Information About Clico

[richard4945]

People do you know why Clico has gone the way it has? It is because some PNM Ministers who had their moneys in Clico decided to withdraw their accounts .

If you have to blame someone blame the board of directors and also PNM for the state that Clico has ended up in.

 

[RauCous]

Whats wrong with drawing out money? The customer has a right to do with thier money what they wish. But financial institutions like that rely on investments and shareholders always fail when the money leaves. It's pretty much the same thing that happen to the HCU. I dont understand how a goverment in a democratic state have anything to do with independent businesses failing.

 

[LadyDeath]

I hear is that they cudn't pay of their debts...

 

[cool3ni]

Just hope Clico's policy holders and all other subsidiaries of CL Financial don't suffer like with the HCU situation.

 

[admin]

What is happening is people are withdrawing money to quickly so their will be less assets in their bank, when people all how clico is having a hard time they will thing about HCU and they are withdrawing all of thier money.

This is bad for the bank because of the less capital it has

 

[RauCous]

What do you guys think of clico being nationalised? Would it help? Is it a good thing?

 

[admin]

It would be good at the present moment but in the long term i don't support clico going to be nationalized, mainly because private owned is best for it always

 

[brbk4498]

wat happen to clico? i havnt read the news in a while... lol ages, maybe never. soo wat happen the recession hit them?

 

[admin]

Goverment stated that we have not been hit with recession as yet so i wonder what really happen, clico has been having some difficult times and has been loosing most of its profits for some time now

 

[Resha]

recession hitting us since last year but everything hush hush.....Im a policy holder of clico and my agent assured me everything will be ok...but then thats what they have say to keep the business alive....Im thinking of surrendering my policy.... also UTC has rumours too

 

[admin]

Of course Clico agents will tell you every thing will be ok if every one from clico started to take out money like crazy the bank will have less capital they are doing that to assure the capitals.

Again I hate when bull Shi* rumors spread about UTC Its just rumours geez

 

[RauCous]

So far its only clico this new arrangement will prevent it from spreading.. cuz clico does inlfuence like 25% of our GDP. This was a preemptive thing so nothing to loss hope for. UTC going fine else we woulda hear something bout it already.. as in from the news.

 

[Resha]

U would not hear anyhting about UTC until something actually happens...But the time is drawing near.....