Internationally experienced insurance industry executive joins CBL board
CBL Insurance Limited (“CBL”) has appointed Paul Donaldson to its board.
New Zealand based, privately owned credit surety and financial risk insurer, CBL Insurance Limited (“CBL”) has appointed Paul Donaldson to its board.
Mr Donaldson has extensive public listed company board experience with European insurance companies and joins the five person board headed by chairman Sir John Wells as an independent non-executive director.
His appointment follows the recent selection of UBS, Forsyth Barr and Bancorp Corporate Finance to assist CBL in assessing growth plans, including its capital structure. It also coincides with CBL’s recent credit ratings upgrade by the US-based ratings agency A.M. Best.
Sir John Wells said: “Paul Donaldson is a great addition to our board and nicely rounds out its skill set. He brings considerable international public company experience to the board as well as bringing extensive knowledge of the insurance industry in Europe where CBL writes a good portion of its insurance and re-insurance business.”
Formerly a senior executive with multinational insurer Royal Sun Alliance Group where he worked for 38 years, Mr Donaldson has been an independent director of CBL’s European subsidiary CBL Insurance Europe (“CBLIE”) since last September and chairs that company’s Risk Committee. He was also a former President of the Irish Insurance Federation.
CBL Managing Director Peter Harris said Mr Donaldson’s experience in driving business growth in the European specialty insurance market would be a significant asset to the company.
“Paul has made a substantial contribution to CBLIE since his appointment, and we are delighted we will now be able to utilise his skills and knowledge across the entire Group,” Mr Harris said.
Mr Donaldson has also been appointed to the board of CBL’s holding company, CBL Corporation Limited. CBL is the principal operating company of the CBL Insurance Group in New Zealand.
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Internationally experienced insurance industry executive joins CBL board
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