CBL to exit problematic French unit, takes action against SFS vendors

Tue, 13 Feb 2018

By Paul McBeth Feb. 14 (BusinessDesk) - CBL Corp is hiring advisers to sell the French construction insurance division that's seen it fall foul of regulators over solvency concerns and is pursuing legal action against the vendors of Securities and Financial Solutions Europe SA (SFS). The Auckland-based credit surety and financial insurance risk firm expects to exit the French business within 90 days after a board-led strategic review found the high level of capital needed to meet estimated future claims posed "a disproportionate level of...

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