the Gibraltar insurance aithority latest news mentionned that 'the GFSC identified Risk arising from elite's gouvernance delegated underwriting and reserving processes.' Elite is now on a run off process and stop immedialty all business.
Elite is the main insurance company that cbl reinsured and It represents the main revenu of cbl. the undewriting and reserving process is made by sfs ( a cbl subsidiary) that can liable in case of insolvency.
I think that this can have a very big impact on cbl.
Is anybody have information on this important subject.
If somebody knows the cbl business in construction in france, please feel free to give us information. This looks very strange, cbl doesn't have gave us informations on this event.
Add to My Watchlist
What is My Watchlist?