CBL Corporation Limited was founded in 2012. This well-known company is a provider of reinsurance services. It offers property deposit bonds, rental guarantee bonds, underwriting, income protection, and brokerage services for building and construction. Based in Auckland, New Zealand, the company conducts financing in the insurance industry and provides these services worldwide.
Former CEO and managing director of this regional insurer, Peter Harris, developed the successful growth strategy that made CBL an international corporation. During his tenure, Harris grew the company from just two employees in Auckland to over 550 across 25 countries. Leading an international team, specialty insurance as reinsurance was provided based on credit and financial risks within the industries of building, construction, and contracting.
Peter Harris earned his Master’s Degree from the University of Auckland. After graduating he began his career as a manufacturing executive and later became an investment banker. Since that time he has been the winner of many prestigious business awards. Concerning annual GWP, he oversaw and contributed to CBLs growth from fledgling to New Zealand’s largest insurance company. The establishment received an investment-grade rating of A under his tenure. As well AM gave them a positive outlook in terms of financial strength.
Recently Peter Harris, CBL’s deputy chairman Alistair Hutchinson, and senior management members generated a total of $65 million with the sell of their CBL shares. The shares were sold at a discounted rate of AU$3.00 per share, down 11% from Tuesday’s AU$3.35 per share. The number of shares sold by Harris was five million. Hutchinson sold 5.4 million shares and senior management sold another 9.6 million shares. Shortly after the company’s fiscal year-end results had been announced and following the release of the shares from escrow, they were snatched up by multiple investors from New Zealand and Australia
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