FSCS declares CBL Insurance Europe has failed
The Ireland-based insurer was placed in administration in 2018 and was ordered to stop paying claims last December.
CBL Insurance Europe (CBLIE) was declared in default by the Financial Services Compensation Scheme (FSCS) on 24 February 2020.
The Ireland-based insurer was ordered to stop writing business immediately on 20 February 2018 and went into administration a month later.
Last December, the Central Bank of Ireland ordered CBLIE to cease paying claims.
On 20 February 2020 the Central Bank lodged a petition with the Irish High Court to seek a winding-up order and to have a liquidator appointed.
FSCS
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