Hints and tips:
...In March, IAG said it had passed its Greensill exposure that was not covered by reinsurance to Tokio Marine as part of the 2019 sale of BCC. Greensill, IAG and Tokio Marine declined to comment....
...Greensill’s business model ultimately collapsed after it failed to replace Tokio Marine, which told Greensill in September 2020 that it would not renew its cover....
...Those seeking reinsurance in speciality areas such as aviation and marine also had to contend with the “most challenging renewal in a generation, reflecting the potential for large losses from the Russia-Ukraine...
...It expects losses in five areas: aviation claims; credit and surety losses stemming from soured debts and bankruptcies; marine claims, which would encompass damage to ships and ports; and political risk...
...He added that Rolls-Royce was “in pretty good shape” to be competitive in the area, in part thanks to its power systems business, which produces engines for marine and land applications....
...Allianz, BASF, Bayer and Volkswagen, all German companies, joined forces last year to establish a start-up platform called DCSO to increase cyber security awareness and defences....
...The group is also part of broader Japanese efforts to launch an aviation comeback....
...If the bet had gone wrong, Boeing would have gone the same way as the Glenn L Martin Company, one of the pioneers of jet aviation.”...
...James Healy-Pratt, head of the aviation department at the legal firm Stewarts Law in London, estimates that Allianz could eventually pay out as much as €300m....
...However, Allianz said on Friday that the liability claim, covering payments to relatives of the victims, would remain unaffected....
...German insurer Allianz said this week that its unit Allianz Global Corporate & Specialty was the lead insurer for the “hull and liability” policy that covers the Germanwings flight....
...On Saturday, Russian troops used guns, armoured vehicles and stun grenades to storm Ukrainian troops resisting an order to surrender at an air base in Belbek, near Sevastopol, and also seized a naval aviation...
...Duncan Southcott, head of marine UK at Allianz, Europe’s biggest insurer by market capitalisation, said the increasing size of ships “must be a concern …This is the first example of one of these very large...
...Ascend’s report said 2011 could be seen as the aviation industry’s safest ever year....
...There are nearly 70 general insurers operating in the country, including Allianz, Chartis, Axa and Japan’s top three non-life insurers – Tokio Marine, MS&AD and NKSJ Holdings – either independently or in...
...During the global downturn, Chinese banks stepped up their involvement in aviation finance, funding foreign airlines to purchase jets....
...Planes full of supplies arrived faster than they could be unloaded and aviation authorities restricted flights from US airspace for fear planes would run out of fuel while waiting to land....
...Meanwhile, Germany’s Allianz is in the process of unwinding what has probably been the most unhappy bancassurance relationship of the past decade by selling its Dresdner banking subsidiary to Commerzbank...
...One of the insurers, Allianz AG, said it was “disappointed” and pledged it would appeal the verdict if necessary....
...It concluded: “The message from our analysis of the equity risk premium [back to 1968] is that the world is about as gloomy as it can get without actually having a proper crisis.“ Among the insurers, Allianz...
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