CBL’s downfall: As it happenedThings appeared to be going pretty well for CBL this time last year when it announced its 2016 results.
Angerstein: Gala InvitesFresh from the collapse of his insurance company CBL, will CEO Peter Harris still go to Monte Carlo later this year to represent NZ in the world entrepreneur of the year competition? Angerstein suspects not…
Why Gibraltar’s French construction storm may spread beyond CBLWhy has the French construction class “dommages-ouvrage” blown a hole in CBL’s balance sheet and will other (re)insurers be affected?
Armour Group steels itself for potential CBL regulatory twin fightReinsurance capital likely to be trapped in two regulatory jurisdictions which could complicate collections…
CBL puts itself into administrationEmbattled New Zealand carrier CBL Group has placed itself into voluntary administration in the wake of a High Court order forcing it to put its insurer into interim liquidation late last week.
US tax reforms prompt new James River Bermudian vehicleJames River Group has set-up a new subsidiary - Carolina Re - in response to tax reforms in the US passed by the Trump administration last December.
New Zealand regulator puts CBL into liquidationThe Reserve Bank of New Zealand has won a court order to place CBL Insurance into interim liquidation amid concerns about the adequacy of the construction specialist’s reserving practices.
Regulatory barriersThe Chinese authorities are getting tougher on its insurance industry and its executives…
Chinese authorities take over Anbang as chairman awaits prosecutionThe China Insurance Regulatory Commission (CIRC) has announced it has taken control of the country’s insurance giant Anbang as the company’s chairman An Xiaobohu faces prosecution for alleged “economic crimes”.
Enstar seals deal with Zurich for AUD$350mn legacy motor bookEnstar has entered an agreement with an Australian subsidiary of Zurich Insurance Group to reinsure its New South Wales motor vehicle compulsory third party (CTP) insurance business.
Exin requests extension for EUR720mn Ethniki bid deadline: reportsMatt Fairfield’s Exin has written to the Greek regulator to request a 15 day extension for its deadline to line up backing for its proposed acquisition of state-owned carrier Ethniki as the company fights to secure funding for the deal.
The Swedish Club loses appeal over $15mn Renos lossA cohort of hull and machinery underwriters led by the Swedish Club have lost an appeal looking to dodge a $15mn loss after a freighter ship the MV Renos was destroyed by fire six years ago.
Irish authorities order CBL to halt writing businessThe Central Bank of Ireland has instructed New Zealand-listed construction specialist carrier CBL to stop writing business in the country with immediate effect as concerns over the company’s financial position spread to Europe.
Division where unity is required…The anti-insurer headlines are easy to imagine. A terrorist once again uses his vehicle to maim and kill and – in the aftermath of the atrocity – the notoriously aggressive British tabloid press seize on the revelation that UK motor insurers have recently changed their coverage to exclude liability for terrorist attacks.
Terror cover for UK motor reinsurers in doubt as Swiss Re mulls 1.1 exclusionThe future of terrorism reinsurance coverage available to UK motor insurers is in question as leading reinsurers are close to withdrawing cover at 1.1.19, re-Insurance.com can reveal.
Lloyd’s carriers settle $10mn Kanye West lawsuitA number of Lloyd’s contingency insurers have settled a $10mn lawsuit involving rap star Kanye West who cancelled 21 tour dates claiming he was suffering from a debilitating illness.
Pool Re caught in political tidesAll too often the insurance industry is the whipping boy for headline-grabbing politicians after a catastrophe, and this was evident in the aftermath of the London Bridge attacks last year.
UK political overhaul delays much-needed broadening of Pool Re coverageSupporters fear UK government may miss a golden opportunity to reform state-backed terrorism reinsurer; Labour MP rebuffed in early bid to add legislation.
China regulator slams 19 P&C carriers for 'illegal and disruptive' productsThe China Insurance Regulatory Commission (CIRC) has issued regulatory letters to 19 property and casualty (P&C) carriers chastising the companies for selling products inconsistent with their mandate as insurers.
Marsh criminal complaint puts aviation brokers in the spotlight againNews that four Marsh brokers are the subject of a criminal complaint over use of client information in the Philippines has once again again raised questions around broking practices in the aviation space.