Dublin
10 July 2017
Reporter: Becky Butcher

CBL acquires stake in Allied Risk Holdings


CBL Corporation has acquired a 40 percent stake in Allied Risk Holdings, a captive insurance management firm in Dublin, for €1.38 million.

As part of the transaction, CBL has also taken on the senior management team of Allied, who will be appointed to CBL Insurance Europe’s senior executive team in Dublin.

The new appointments include Larry Sherin as CEO, Neal Lamont as financial controller, Ronan Ryan as chief operating officer and Oliver Doyle as chief information officer.

Brendan Malley, current CEO of CBL Insurance Europe, is stepping down from the role to retire, but will take on a part-time claims management role within the company.

Both the acquisition and appointments have received regulatory approval from the Central Bank of Ireland.

Allied’s clients include Benteler Re, Continental, Greenlight Re, Porsche and Santander Bank.

Commenting on his appointment and the acquisition, Sherin said: "I am delighted to be running CBL Insurance Europe. We have known the CBL New Zealand team for nearly five years. They are an impressive operation, and I am looking forward to working with Mark Christer, [CEO of CBL Europe], and playing a strong part in the group's growth in Europe.”

He added: "CBL's solid relationships and good underwriting discipline has worked well in Europe in 2016 and their clear strategy of transitioning their European business into CBL Insurance Europe, and taking advantage of Brexit, has proven to be a good one."

More news
The latest news from Captive Insurance Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
XL Catlin appoints new captive director in Asia
17 November 2017 | Hong Kong | Reporter: Becky Butcher
XL Catlin has hired Shiwei Jin as its global programme and captive regional director in Asia
Advantage Insurance hires duo
17 November 2017 | San Juan | Reporter: Becky Butcher
Advantage Insurance has appointed Colin Devine to its board of directors
‘Exciting developments’ in South Carolina’s captive industry
17 November 2017 | Charleston | Reporter: Becky Butcher
Jay Branum of the South Carolina Department of Insurance has revealed the state has “very positive and exciting developments” for its captive insurance industry
‘Explosive growth’ for Tennessee’s captive market
17 November 2017 | Nasville | Reporter: Lorella Fava
After rewriting its captive statute back in 2011, the captive insurance market in Tennessee has seen “explosive growth”, according to the state’s insurance commissioner Julie Mix McPeak
L&C appoints Kate Miller as head of institutions
16 November 2017 | London | Reporter: Lorella Fava
London & Capital (L&C) has appointed Kate Miller as head of institutions
KBRA Europe registered by ESMA
15 November 2017 | Dublin | Reporter: Becky Butcher
Kroll Bond Rating Agency Europe has officially been registered as a credit rating agency by the European Securities and Markets Authority (ESMA), effective 13 November
Captive insurance scholarships awarded in Bahamas
14 November 2017 | The Bahamas | Reporter: Lorella Fava
The Bahamas Financial Services Board (BFSB) and the Insurance Commission of The Bahamas (ICB) has selected two recipients for the Associates in Captive Insurance designation scholarships