In a Trinidad Guardian press release on January 30 2009, it was announced that the TT Government will "bail out" CL Financial, the parent company of Clico, Angostura and several other local and regional businesses.
As far as booze is concerned CL Financial owns amongst others Angostura Bitters, produces some Carribean Rum and owns through a subsidiary the whisky distilleries of Deanston, Bunnahabhain and Tobermory.
CL Financial started out as a holding company for Colonial Life Insurance Company (Trinidad) Limited (Clico) in 1993.
CL Financial has holdings in numerous business categories including banking and financial services, energy and petrochemicals, forestry and agriculture, general insurance, life insurance, manufacturing, retail and distribution, marine services, media and communications, medical services, real estate development and others.
CL Financial is the largest privately held conglomerate in Trinidad and Tobago and one of the largest privately held corporations in the entire Caribbean. Founded as an insurance company, Colonial Life Insurance Company (CLICO) by Cyril Duprey, it was expanded into a diversified company by his nephew, Lawrence Duprey. CL Financial is now one of the largest local conglomerates in the region, encompassing over 65 companies in 32 countries worldwide with total assets standing at roughly TT$100 billion.