CBL Corp says full-year net loss was $75M-$85M on French reserves strengthening

Sun, 04 Feb 2018

By Jonathan Underhill Feb. 5 (BusinessDesk) - CBL Corp said it will post a full-year loss because of an increase in the future claims reserve for its French construction insurance business and a write-off of receivables in that business. As a result it is planning to raise more capital. The loss was $75 million to $85 million in calendar 2017, the Auckland-based credit surety and financial risk insurer said in a statement. It is the second downgrade of its full-year guidance. The company said it expects to make a future claims reserve...

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