The Truth.

THE TRUTH: Absolutely not. Our financial strength and stability are solid, and policyholder and shareholder value are well protected.

To ensure that our 100,000 clients’ policies are safe with us and that we will always be there when they need us, ColinaImperial follows rigorous Canadian standards for maintaining solvency and holding reserves (cash and cash equivalents) that guarantee our liquidity.

Our investment portfolio, which is used to back policy claims, is well diversified with a significant percentage invested in Bahamas Government registered stock. No other investment is more secure. In fact, our investments in Bahamas Government registered stock as a portion of our total invested assets are higher than those of all other local insurance companies combined.

Internationally, the standard of a company’s financial strength is its Minimum Continuing Capital and Surplus Requirements (MCCSR) ratio. At the end of 2007, ColinaImperial’s MCCSR ratio was 178.9% — well above regulatory requirements.

Another financial strength indicator by which the Company is measured is its perception by internationally recognized ratings agencies such AM Best, which has reaffirmed the Company’s A- (Excellent) rating. The A.M. Best report is additional confirmation that policyholder and shareholder value are well protected.

THE TRUTH: Absolutely not. ColinaImperial does not manage pension portfolios.

Despite some reports comparing us to a notorious US pension bankruptcy scandal, we do not manage pension portfolios but have a legal contractual agreement with leading investment and financial analysis firm, CFAL. Like other investment companies, CFAL counsels clients in private banking, investment management, and pension administration. CFAL segregates clients’ assets from its own so that there is no intermingling of funds. Visit www.cfal.com

THE TRUTH: Our size works in your favour. ColinaImperial offers a rock solid foundation.

The story of ColinaImperial’s success is unprecedented and unparalleled in the history of the insurance industry in The Bahamas. In ten years, strategic acquisitions transformed four modest insurance branches, totally dependent on foreign parent companies for technical expertise and direction, into the largest Company of its kind in The Bahamas. The resultant ColinaImperial is financially strong and fully self-sufficient.

Our size works in your favour. With more than $465 million in total assets and over $80 million in total equity, ColinaImperial offers a rock solid foundation to afford our clients rock solid financial footing.

Moreover, because we have been able to localize our operations, we have helped to develop expertise in Bahamian professionals in a number of fields previously outsourced by the entire industry. While we retain independent auditors and actuaries in accordance with the law, and work closely with international technology solutions providers, we are developing Bahamians in the fields of Information Technology, Actuarial Science and executive management.

THE TRUTH: This is unthinkable.

We have made no loans to any such individual, real or imagined. In fact, the Company reports under International Financial Reporting Standards which would require disclosure of loans that would be unsecured such as the above. We are an insurance Company, not a bank or a “money tree”. And the idea that any financial institution would make a transaction on these terms is unthinkable.

THE TRUTH: Absolutely not. Our code of ethics and our professional staff would never allow it.

The principals of ColinaImperial are major shareholders in The Nassau Guardian; however, journalistic integrity prescribes that private entities do not dictate the reporting or non-reporting of news in the national interest. We can’t “stop the press” because it doesn’t suit us. Our code of ethics and our professional staff would never allow it.

Although affiliated, The Nassau Guardian is a separate and distinct entity from Colina Holdings Bahamas Ltd. with completely independent management and operations. The extent of The Nassau Guardian’s affiliation with The Tribune is a Joint Operating Agreement that allows the companies to pool resources and build purchasing power in order to realize certain savings. Both papers need paper and ink so they put their heads together to secure the best price. This keeps operation costs down and keeps the newspaper purchase price down. The editorial departments of these two media houses are separate and distinct.

THE TRUTH: Our restructuring exercise was not merely a “numbers” decision.

Consistent with our strategic plan for organic growth, ColinaImperial began a management and administrative restructuring exercise to enhance our competitiveness in this fast-changing industry. This is a normal exercise for companies in this phase of their growth cycle and, although it yielded some savings benefits, was not merely a “numbers” decision. Other factors, such as our Company’s business strategy, product focus, and external economic conditions were the major factors in the decision to restructure the Company.

Like other forward thinking companies, we are positioning ourselves for global competition, and focusing on our strengths. In the long run, we will look to continuous improvement, efficiency and reinvestment in order to maintain our leading position and maximize value for our internal and external stakeholders.   Our strategy at ColinaImperial includes an intense focus on results, making the most of changing market trends, delivering innovative financial planning products that engender customer loyalty, and listening to our customers in order to anticipate their needs and exceed their expectations.

THE TRUTH: This is simply not true.

No lawsuits have been filed against the Company with respect to its organizational restructuring.

THE TRUTH: As Bahamian citizens we value our opportunity to participate in national development.

ColinaImperial’s principals maintain good working relationships with individuals on both sides of the political divide and, to forward thinking individuals, this is a good thing. Nation building and economic security, of which affordable healthcare and insurance coverage are a part, are national issues, not political footballs to be hogged by one party in five-year intervals. As participants in this society, and as Bahamian citizens, we will continue to play a positive role in the country’s development. We urge all Bahamians to take their country, and the role they can play in its development, very seriously.

THE TRUTH: Mrs. Fields decided to shift gears…

Mrs. Fields, on the cusp of a major milestone in her personal life, decided to shift gears, and made the decision to return to her first love – Accounting – after serving more than 14 years in various capacities at ColinaImperial. She will be missed by management and staff and we wish her the very best in this new phase of her life.