CBL Corporation has delisted from the New Zealand Stock Exchange, effective from close of play today.
Christchurch City Council estimates that insurers have paid out around NZ$35-40bn (£18.6-21.2bn) following the earthquake in 2011.
Creditors of CBL Corporation, the parent company of CBL Insurance, are expected to be owed in excess of £90m.
The New Zealand high court has placed CBL Corporation into liquidation.
A hearing over the future of beleaguered insurer CBL has been postponed again in order for creditors to explore a rescue plan.
CBL Corporation shareholder Oceanic Securities PTE has filed an opposition to the application to put the company in liquidation, leading to delays for the liquidation hearing.
The New Zealand High Court has granted a further application by CBL Corporation administrator Kordamentha to push back a watershed administration meeting to February 2019, though it is expected the corporation will be placed into liquidation.
Victims of economic abuse often struggle to access insurance, writes Alice Merry, financial inclusion consultant for Surviving Economic Abuse, explaining what the industry can do about it.
The Reserve Bank of New Zealand has welcomed the liquidation of CBL Insurance and will be publishing a review into it next year.
Insurance associations from around the world are asking for a two-year delay in the implementation of the International Financial Reporting Standard 17 for insurance contracts.
Ecclesiastical claims director David Bonehill was awarded the Achievement Award at the eighth Post Claims Awards. As technology is transforming claims, he predicts tech giants will enter the market, probably in the motor or home arena.
Sir John Wells has stepped down as director and chair of CBL, along with two independent non-executive directors.
Lloyd’s has launched Lloyd’s Bridge a digital distribution platform designed to connect insurance businesses with Lloyd’s underwriters.
The directors of collapsed New Zealand-based insurer CBL have proposed a restructure, pushing back the date of its voluntary administration watershed meeting.
SFS France, which is owned by CBL, is having difficulties getting approval from Orias, the French association registering and approving brokers.
Last month once again saw a passported insurer placed into liquidation, with the collapse of CBL causing ripples throughout Europe
Alpha Insurance has placed itself into solvent liquidation as a “direct consequence” of the failure of CBL Insurance.
The Central Bank of Ireland has appointed an administrator for CBL Insurance Europe.
The High Court of New Zealand has ordered CBL Insurance, the main subsidiary of CBL Corporation, be placed into interim liquidation.
Since packing up his life in London and flying half way across the world to Australia, Mark Searles, CEO of AUB Group, has transformed a broker into the leading equity-based broking, risk management, advice and solutions provider in Australasia.
CBL Insurance Europe has been ordered by The Central Bank of Ireland to bolster its capital and reserves.
Australian insurer IAG has placed 141 jobs in Christchurch under threat of redundancy.
Australian giant QBE is expecting a combined operating ratio of 104% and $1.2bn (£858m) loss for 2017's financial year.
Australian giant QBE has hired a senior manager from Allianz for a newly created SME role.