New Zealand insurer plans to directly write business in Europe
Posted On: Jan. 18, 2017 8:45 AM CSTNew Zealand-based specialist insurer CBL Corp. Ltd. plans to directly write business in Europe, as its Irish division has been receiving an influx of inquiries amid concerns over how British insurers will restructure to continue operations post-Brexit, The Australian Financial Review reports.
Europe accounts for around 70% of CBL's business. "We have had people from France who have decided that they don't like the uncertainty and can't get any clarity over where their insurance is going to be coming from and they want to change now," said Peter Harris, managing director at CBL.