Over 3000 ResLife Former Policy Holders Receive Bond Payments

Author(s): Central Bank Of Barbados

Created 18 Oct, 2019
Categories General Press Release Investment
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As of 30 September 2019, over 3,000 persons issued Government of Barbados bonds a result of the liquidation of ResLife have received their first quarterly payments. ResLife continues to work closely with the Central Bank of Barbados to keep other bond holders updated on the status of their payments. The Central Bank of Barbados is continuously processing payments to bond holders to ensure that all amounts due for September 2019 are remitted. Central Bank is already in receipt of the information for over 4,000 bond holders who have completed their settlement consultations with ResLife.

Persons who visited our offices between June and August should expect their payments to be lodged to their bank accounts by the end of October. For those who visited in September their payments will follow soon after.

While some persons expressed concern about having to receive 15-year bonds in settlement of small sums, we wish to impress on individuals that unless otherwise indicated, all bond payments regardless of the value will be paid when they become due.

Another common query regarding bonds is if persons will lose their payments if their consultations with ResLife were completed after 30 September 2019 when the first quarterly bond payments were due. ResLife assures these persons that they will receive all amounts due regardless of when consultations are completed.

ResLife is continuously submitting information to the Central Bank for bond holders who visited the office after 30 September, 2019. Therefore, we ask that persons allow 4 - 6 weeks following the completion of consultations for payment to be remitted to the specified bank account.

Until further notice, ResLife will assume responsibility for all queries regarding bond payments, leaving the Central Bank Team free to prioritize payment processing. We will handle all tracing of payments required and advise bondholders of the findings, and manage their expectations.

All queries can therefore be redirected to the ResLife Contact Center 538-8088 or to our email address info@reslifeassurance.com.

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October 18,2019


Copyright 2019 by Central Bank of Barbados