CBL Insurance IPO

[winner69]

Nice term that ‘disorderly failure’

[Arbroath]

https://www.nbr.co.nz/article/cbl-ir...tion-th-213132

No results to be released as it sounds like its totally stuffed.

Disc: not a holder but feel sorry for those that are. I hope the Directors/MD are charged if there is evidence of gross negligence or fraud.

[Grunter]

CBL is now an absolute sitter for a securities class action - will it happen though, probably not as NZ investors never want to do anything about it.

A major issue rearing it's head - CBL underwrites a large number of contractors bonds and building warranty products in the NZ market. Now those bonds and warranties are effectively useless.

Will this trigger a call on those bonds where contractors have to front up with cash to replace the bond? Cash that the contractors very likely do not have? Will this impact the construction sector?

And how about those home owners that have bought a new house with a now useless building warranty guarantee?

[stoploss]

CBL is now an absolute sitter for a securities class action - will it happen though, probably not as NZ investors never want to do anything about it.

A major issue rearing it's head - CBL underwrites a large number of contractors bonds and building warranty products in the NZ market. Now those bonds and warranties are effectively useless.

Will this trigger a call on those bonds where contractors have to front up with cash to replace the bond? Cash that the contractors very likely do not have? Will this impact the construction sector?

And how about those home owners that have bought a new house with a now useless building warranty guarantee?

Was anyone ever charged over the AMI debacle , surely insuring roughly 50 % of all the houses in CHCH was not a good spread of risk hence the failure ?

[Balance]

Was anyone ever charged over the AMI debacle , surely insuring roughly 50 % of all the houses in CHCH was not a good spread of risk hence the failure ?

There have been no charges filed against anyone in respect of the 115 deaths due to negligence and incompetence over the CTV collapse from the Christchurch earthquake.

Why would anyone be charged over a 'trifle' matter like incompetence in managing AMI's overexposure to Christchurch?

[Balance]

https://www.interest.co.nz/opinion/9...-its-insurance

Article with some very damning insights into the workings of CBL, NZX and RBNZ.

Best part is the RBNZ's interactions with CBL since July 2017 and directions issued to CBL to fix its financial position.

CBL claims confidentiality, RBNZ will not deny or confirm and the NZX is blissfully unaware of anything going on.

Silence from the NZX re CBL is deafening.

Anyone who is a shareholder in CBL better wake up to the reality that NZX rules and regulations are a sham - there is no enforcement.

[Balance]

https://www.interest.co.nz/insurance...ance-europe-if

Confirmation by another publication that CBL will not be announcing its results toady - advised to NZX but NZX has chosen not to advise the market!

Guess NZX must be pink with embarrassment at how another Feltex, courtesy of Forsyth Barr and UBS, has revisited its listing board?

[Balance]

Anyone observing the share price of CBL will note how its share price started dropping away from end of July 2017.

Coincidental that RBNZ started its 'interactions' into the company's capital adequacy and claims provisioning at that time?

FMA and NZX are asleep at the wheels again or have they finally woken up to actually do some investigation?

[Xerof]

Friends of directors, staff.....pass the word around, ....sell.

Sounds like SCF all over again, with the public service and hangers-on, thinking they can fix it without 'worrying' the community.

[winner69]

If CBL don’t file their report by March 31st the NZX will suspend trading in their shares

That George Kerr of PGC knows all about this

Balance, What’s George up to these days?