Entrepreneur of the year
16 Oct 2017
Peter Harris, MD of specialist insurer CBL, has been named EY entrepreneur of the year for New Zealand.
“[Mr Harris] has built a brand with more than 500 employees in eight offices, spread across 25 countries,” EY says.
He led a successful initial public offering in 2015, followed by listing on both the New Zealand sharemarket and Australian Securities Exchange, and in June this year the company entered the S&P/NZX 50 Index.
Mr Harris will compete against more than 60 national winners for the world entrepreneur of the year title in Monte Carlo next June.
In an anouncement last week, CBL said is to become the first non-bank provider of surety and guarantee bonds for infrastructure developments in India, through a joint venture with Indian infrastructure finance company Srei Group.
The proposed partnership was announced at a function in Delhi after year-long talks.
CBL Director of International Business Dean Finlay says the introduction of performance bonds will give Indian businesses greater flexibility in managing working capital, aid the growth of infrastructure companies and allow projects to be completed faster.
Srei Vice-Chairman Sunil Kanoria says while bid bonds, sureties and performance guarantees are available in other countries, no such market exists in India.
CBL provides surety and bonding programs in 15 countries.