CBL Insurance Limited - (in liquidation)
CBL Insurance Limited was placed into liquidation by order of the High Court on 12 November 2018.
CBL Insurance (CBLI) was a provider of insurance and reinsurance, mostly overseas but with about one percent of revenue from New Zealand insurance business. The Reserve Bank is the “home country” regulator and prudential supervisor of CBLI because the company provided insurance cover in New Zealand and is incorporated in New Zealand.
Independent Review
The Reserve Bank has commissioned an independent review of its supervision of CBLI to identify lessons for itself and the insurance regulatory regime. The review is being conducted by John Trowbridge and Mary Scholtens QC and will cover the period from CBLI’s licensing in 2013 through to the interim liquidation. Key findings from the independent review will be made public 1 July 2019.
- Terms of Reference for CBL Insurance review (PDF 434KB)
- CBL RBNZ Final report - An Independent Review for the RBNZ of the Supervision of CBL Insurance Ltd (PDF 1.25 MB)
CBL Insurance chronology
Notes of events covering the period from licensing of CBL Insurance in 2013 through to liquidation in 2018.
High Court Rulings
- 16 Nov 2018 - Judgement of Justice Courtney placing CBL Insurance in liquidation (PDF 401KB)
- 16 Nov 2018 - Reasons for judgement - admissibility of evidence (PDF 243KB)
- 16 Nov 2018 - Order removing confidentiality over evidence to the Court (PDF 296KB)
- 23 Feb 2018 - Court order appointing interim liquidators (PDF 323KB)
Affidavits
- 18 Oct 2018 - affidavit to High Court (PDF 13MB)
- 23 Feb 2018 - affidavit to the High Court (PDF 8.4MB)
News Releases
- 3 July 2019 - Reserve Bank releases independent review of its supervision of CBL Insurance liquidation
- 12 Nov 2018 - Reserve Bank welcomes uncontested liquidation of CBL Insurance
- 1 Oct 2018 - RBNZ comment on CBLI court judgement released today
- 27 Jun 2018 - Serious Fraud Office and Reserve Bank investigating CBL Insurance matters
- 6 Jun 2018 - CBL Insurance hearing date
- 1 Mar 2018 - CBL Insurance Limited interim liquidation
- 23 Feb 2018 - Interim liquidators appointed to CBL Insurance
Responses to OIA requests
Creditors and policy holders
If you are owed money by, or hold a policy issued or underwritten by CBL Insurance, then please contact the liquidators at the following email address [email protected].