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Assetinsure linked with New Zealandís CBL

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Assetinsure has been named as a potential takeover target for New Zealand credit insurer CBL Insurance.

CBL last month announced it has hired advisers to examine growth plans, including “its intentions in Australia”.

Assetinsure CEO Gregor Pfitzer told insuranceNEWS.com.au the company does not comment on market rumours.

CBL specialises in financial risk coverage, including building and construction-related credit and bonds for property buyers and landlords seeking cover in the event of default.

It writes business in 25 countries.

US-based insurer Ironshore attempted a takeover of Assetinsure in February last year, but the deal fell over mid-year by mutual agreement.