CBL Insurance Europe Dac – FAQ
Fri Mar 13 2020
12 March 2020
The Central Bank of Ireland have issued the following notice regarding the position of CBL Insurance Europe DAC.
On 20 February 2020, the Central Bank of Ireland (“Central Bank”) presented a petition for the winding up of CBL Insurance Europe Dac (Under Administration) (“CBLIE” or “the Company”) to the High Court.
The matter was heard by the High Court on 12 March 2020, where an Order for the winding-up of CBLIE, and the appointment of Mr Kieran Wallace and Mr Cormac O’Connor of KPMG Dublin as Joint Liquidators, was made. This appointment takes immediate effect.
By way of background, CBLIE has been in Administration since 26 February 2018 when the Central Bank made an application to the High Court due to concerns about the Company.
The Central Bank took these actions in the interest of protecting policyholders.
Impacted policyholders are advised to make contact with the Joint Liquidators of CBLIE for ongoing updates with regard to the Liquidation and the status of any remaining policies held. Further information for impacted policyholders can be found here: http://cblinsuranceeurope.com/.