Elite named in CBL Insurance affidavit
The Central Bank of New Zealand has applied for an interim injunction against CBL Insurance.
The Reserve Bank of New Zealand has named Elite Insurance in its affidavit as it seeks an interim injunction against CBL Insurance.
CBL had paid €25m (£22.3m) to Elite despite being ordered not to by the bank.
Danish insurer Alpha Insurance is also named in the document.
Elite went into run off in July 2017 and the legal document noted that at the time PwC, which was conducting a report into Elite, was concerned about CBL’s ability to meet reinsurance obligations to Elite.
Reserves
PwC also
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