New Zealand’s prudential supervisor, the Reserve Bank of New Zealand, in February 2018 placed CBL Insurance under “interim liquidation”. CBL is a P/C insurer specializing in credit surety and financial risk, such as builders risks, sureties, guarantees and contractor bonds. It operates worldwide and in particular in Europe and Scandinavia through an Irish subsidiary, CBL Insurance Europe Designated Activity Company (DAC). It does not underwrite employee benefits or workers’