FSCS declares CBL Insurance Europe has failed

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CBL Insurance Europe (CBLIE) was declared in default by the Financial Services Compensation Scheme (FSCS) on 24 February 2020.

The Ireland-based insurer was ordered to stop writing business immediately on 20 February 2018 and went into administration a month later.

Last December, the Central Bank of Ireland ordered CBLIE to cease paying claims.

On 20 February 2020 the Central Bank lodged a petition with the Irish High Court to seek a winding-up order and to have a liquidator appointed.

FSCS

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