CBL Insurance Europe ordered to cease paying claims

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The Central Bank of Ireland has ordered CBL Insurance Europe (CBLIE) to cease making claims payments with immediate effect.

This follows an update from CBLIE’s administrator on 6 December which the Central Bank said indicated a deteriorating financial position.

The insurer was ordered to stop writing business immediately on 20 February 2018.

Kieran Wallace of KPMG was appointed as a provisional administrator a week later. He was confirmed as administrator in March 2018.

CBLIE specialised in

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