The Central Bank has directed the Irish administrator who took over the European wing of New Zealand-based insurer CBL Corporation Limited in February to stop making claims payments, pending a review of its finances. The Central Bank has directed the Irish administrator who took over the European wing of New Zealand-based insurer CBL Corporation Limited in February to stop making claims payments, pending a review of its finances. Administrator Kieran Wallace of KPMG was appointed by the Central Bank here in February after the insurer’s New Zealand-based parent, CBL Corporation Limited, went into liquidation in its home market. News of that action is understood to have been communicated to the Central Bank here, as regulator. “The Central Bank took this action in the interest of protecting policyholders.

Source: Irish Independent December 11, 2019 17:48 UTC