In 2017, CBL sold 20 million shares valued at $65 million. The shares represent 8.5% of the company’s issued capital. The sell was made to boost share market liquidity. The shares were sold for AU$3.00 per share. This is an 11% discount from the previous price of AU$3.35. CBL’s managing director at the time, Peter Harris, sold five million shares; the senior management sold 9.6 million, and deputy chairman Alistair Hutchinson sold 5.5 million shares. The shares were sold to a variety of Australian and New Zealand investors. CBL was founded in 2012 and specializes in reinsurance services. The companies services include brokerage services, property deposits, underwriting, rental guarantee bonds, and income protection. CBL provides its services to customers across the globe. The company had its headquarters in New Zealand and had approximately 550 employees. ;
Peter Harris received his master’s degree from the University of Auckland Business School. He started with CBL in 2007. Peter was instrumental in the success of CBL. He is also a board member of 25 other companies, The New Zealand Institute of Management, and the Australian Graduate School of Management. Prior to joining CBL, Mr. Harris served as a director for a number of companies to include Special Risks Insurance Brokers Ltd., Sunshine Nominees Ltd., South British Nominees Ltd., Dominion 114 Ltd., Alliance Investments Ltd., Eurasia Investments Ltd., South British Capital Ltd., General Capital and Commerce Ltd., Boston Marks International Ltd., Deposit Power Ltd., PFP Singapore Pte Ltd., Altares Ltd., and Claims Administration Bureau Ltd.