NZ insurer CBL adds $100mn to reserves as Gibraltar run-off impact spreads

Published: Wed 7 Feb 2018

Credit and financial risk carrier CBL Corporation is set to report a post-tax loss of between NZ$75mn and NZ$85mn ($55mn and $62mn) for 2017 after it said today (5 February) it would book a NZ$100mn reserve strengthening hit from a controversial class of French construction business written out of Gibraltar.