Irish central bank seeks provisional administration for CBL's European unit

Mon, 26 Feb 2018

By Paul McBeth Feb. 27 (BusinessDesk) - The Central Bank of Ireland sought a court order to appoint provisional administrators to CBL Corp's European unit, following similar action from New Zealand's prudential supervisor, to avoid a "disorderly failure" of the insurer. KPMG's Kieran Wallace was appointed provisional administrator to CBL Insurance Europe dac by the High Court on application from Ireland's central bank, which the regulator said in a statement was to protect the insurer's policyholders. The regulator had been in talks with...

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