CBL to buy Affirmative for US$5.7M, gaining foothold in US insurance market

Fri, 24 Mar 2017

By Paul McBeth March 24 (BusinessDesk) - CBL Corp wants to add US insurer Affirmative Direct Insurance Company in a US$5.7 million deal which would expand its global footprint to the world's biggest economy. The Auckland-based credit surety and financial risk insurer filed a regulatory application to buy the US business, giving it a US insurance vehicle and licences to expand in the US, it said in a statement. Affirmative started running off its business since it stopped underwriting operations in 2007 and has no outstanding claims, and...

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