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 Industry 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
Advantage opens Vermont office
18 January 2018 | Vermont | Reporter: Ned Holmes
Advantage Insurance has opened a new office in Vermont to support its growing captive insurance services business
Tennessee captive premiums exceed $1 billion in 2017
18 January 2018 | Nashville | Reporter: Ned Holmes
Tennessee-domiciled captive insurance companies exceeded $1 billion in written premiums in 2017 for the first time, according to year-end figures from TDCI
National Interstate establishes group captive
17 January 2018 | Ohio | Reporter: Ned Holmes
National Interstate Insurance has launched TowCap Premier, a group rental captive, designed exclusively for the towing and recovery industry
Martin & Company opens EB division
16 January 2018 | Philadelphia | Reporter: Ned Holmes
Martin & Company has established an employee benefits consulting division and expanded its life, accident and health department
Utah sees 63 new captive formations in 2017
15 January 2018 | Salt Lake City | Reporter: Ned Holmes
The Utah Insurance Department licensed 60 new full captive insurance companies in 2017, in comparison to the 68 that it licensed in 2016
R&Q sells captive operations
15 January 2018 | London | Reporter: Ned Holmes
R&Q has sold its insurance services and captive management operations to Davies Group, a UK-based operations management, consultancy and digital solutions provider
Conyers welcomes new COO
11 January 2018 | Bermuda | Reporter: Ned Holmes
Paul Naylor has been appointed as the new COO for international law firm Conyers Dill & Pearman