New Zealand-based credit and financial risk insurer CBL Corporation has changed its Australian Securities Exchange (ASX) listing category to “foreign exempt issuer”.

It means CBL will be mainly regulated by its home New Zealand Exchange and is exempt from complying with most of the ASX’s listing rules, the company says.

Shareholders can trade their shares on the ASX in the same way, and the exchange ticker code remains unchanged.

CBL completed its dual listing in New Zealand and Australia in October last year, with the initial public offering raising $NZ125 million ($118.8 million).

It also acquired Australian insurer Assetinsure in September last year.

Last month CBL reported net profit for the six months to June 30 fell 18.7% to $NZ18.49 million ($17.6 million), but operating profit grew 44.6% to $NZ35.1 million ($33.3 million).