Provisional administrator appointed to CBL Insurance Europe
The insurer was ordered to stop writing new business by the Central Bank of Ireland last week.
The Central Bank of Ireland has made an application to the High Court to have a provisional administrator appointed to CBL Insurance Europe (CBLIE).
According to the Central Bank its view is that CBLIE is in breach of a number of regulatory requirements and is in a “distressed financial position”.
It detailed that Kieran Wallace of KPMG was appointed as provisional administrator.
This follows the news from last week that that the Cental Bank had ordered CBLIE to stop writing new business with
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