New Zealand
Insurers moving to limit exposure to neuro sports injury litigation
Impending litigation over neurodegenerative conditions suffered by rugby and football players are presenting challenges for the insurance industry to stay on top of.
Howden ready to buy again with £500m of firepower
Howden Group has a £500m warchest for acquisitions and investments, CEO David Howden told Post as the firm reported 6% organic growth in 2020.
AGCS embarks on €200m cost-cutting restructure
Allianz Global Corporate & Specialty will look to reduce its global headcount by a further 400 as it embarks on a transformation programme.
ABI's Huw Evans talks Pandemic Re possibilities
Market discussions around Pandemic Re options are crucial and serve a "noble purpose", Huw Evans director general of the Association of British Insurers told Post, as he confirmed the trade body is in discussion with Lloyd's and anticipates an invitation…
FSCS declares CBL Insurance Europe in default
The Financial Services Compensation Scheme is now stepping in to protect the majority of policies sold in the UK to individuals and small businesses by CBL Insurance Europe having declared the insurer to be in default.
CBL Corporation delists from New Zealand Stock Exchange
CBL Corporation has delisted from the New Zealand Stock Exchange, effective from close of play today.
Insurers paid out NZ$40bn following Christchurch earthquake
Christchurch City Council estimates that insurers have paid out around NZ$35-40bn (£18.6-21.2bn) following the earthquake in 2011.
CBL creditors owed in excess of £90m
Creditors of CBL Corporation, the parent company of CBL Insurance, are expected to be owed in excess of £90m.
CBL Corporation placed into liquidation
The New Zealand high court has placed CBL Corporation into liquidation.
CBL hearing delayed again pending last-minute rescue plan
A hearing over the future of beleaguered insurer CBL has been postponed again in order for creditors to explore a rescue plan.
CBL shareholder in bid to save troubled firm from liquidation
CBL Corporation shareholder Oceanic Securities PTE has filed an opposition to the application to put the company in liquidation, leading to delays for the liquidation hearing.
CBL Corporation expected to be placed in liquidation, sees further delays to watershed meeting
The New Zealand High Court has granted a further application by CBL Corporation administrator Kordamentha to push back a watershed administration meeting to February 2019, though it is expected the corporation will be placed into liquidation.
Blog: How insurance risks exclude victims of domestic abuse
Victims of economic abuse often struggle to access insurance, writes Alice Merry, financial inclusion consultant for Surviving Economic Abuse, explaining what the industry can do about it.
Review into CBL expected to ‘identify lessons’ for both the firm and the regulatory regime
The Reserve Bank of New Zealand has welcomed the liquidation of CBL Insurance and will be publishing a review into it next year.
Insurers ask for two more years to implement IFRS 17
Insurance associations from around the world are asking for a two-year delay in the implementation of the International Financial Reporting Standard 17 for insurance contracts.
Q&A: David Bonehill, Ecclesiastical
Ecclesiastical claims director David Bonehill was awarded the Achievement Award at the eighth Post Claims Awards. As technology is transforming claims, he predicts tech giants will enter the market, probably in the motor or home arena.
CBL director and INEDs resign
Sir John Wells has stepped down as director and chair of CBL, along with two independent non-executive directors.
Lloyd's launches insurance matching site as digital push continues
Lloyd’s has launched Lloyd’s Bridge a digital distribution platform designed to connect insurance businesses with Lloyd’s underwriters.
Watershed CBL meeting delayed over restructure proposals
The directors of collapsed New Zealand-based insurer CBL have proposed a restructure, pushing back the date of its voluntary administration watershed meeting.
CBL-owned broker struggling to get approval in France
SFS France, which is owned by CBL, is having difficulties getting approval from Orias, the French association registering and approving brokers.
Analysis: What happened to CBL Insurance?
Last month once again saw a passported insurer placed into liquidation, with the collapse of CBL causing ripples throughout Europe