Catholic Church’s insurance company in financial trouble over abuse payouts

AUSTRALIA
The Sydney Morning Herald

December 22, 2020

By Chris Vedelago

The Catholic Church’s private insurer spent more than $58 million paying out the victims of sexual abuse last year and the company is being forced to raise fresh capital and liquidate investments to cover a future compensation bill worth at least another $238 million.

Catholic Church Insurance (CCI) has posted nearly a $250 million loss as it struggles to meet a wave of new claims in the wake of the Royal Commission into Institutional Responses to Child Sexual Abuse.

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