The Catholic Church insurer is planning to enter a scheme of arrangement amid uncertainty over the quantum of long-term sex abuse and other claims and to avoid formal insolvency. Catholic Church Insurance chairman Joan Fitzpatrick has written to policyholders proposing a scheme of arrangement, which is a common procedure in global insurance markets amid uncertain Read more
Posts Tagged ‘Joan Fitzpatrick Chair of CCI’
Catholic Church Insurance refuses bailout, winding down
Thursday, June 1st, 2023
Australian firm Catholic Church Insurance (CCI) has announced that it will begin winding down its operations after failing to secure additional financial support. On Monday, the CCI informed shareholders and staff of the decision, which will result in the closure of the insurer for new business. Despite this decision, CCI remains solvent and will honour Read more