Bridgetown.
British American Insurance Company have laid off its entire sales staff, 24 of its sales agents. According to Judicial Manager of the David Holukoff, some of the agents had already found employment in the industry.
Holukoff disclosed that in another few weeks a report outlining the current status of BAICO will be presented to the High Court.
He said the laying off of the BAICO's sales agents was an historic step for the firm which was once a powerhouse in the local insurance industry for decades.
"The sales agents are moving on, so that is a big change. We laid off the sales agents which I think was the best thing interest of the company, the policy holders and the sales agents because they could not sell new business", Holukoff said.
