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...The UL network traces its roots to a late 19th century effort to help insurance companies save money by testing electrical products for fire risk....
...In the filing, IAG alleges that from the middle of 2019 Tokio Marine failed to ensure that its underwriting unit BCC, and the lead underwriter for Greensill, Greg Brereton, kept within the scope of what...
...Greensill’s collapse also came after Greg Brereton, a Sydney-based underwriter who had funnelled billions of dollars worth of coverage to the group, was fired for allegedly breaching his underwriting limits...
...Tokio Marine served notice on that insurance last year after firing an underwriter at BCC for allegedly exceeding his risk limits with relation to Greensill....
...Corebridge, the life and asset management business of insurance group AIG, went public this week with the help of 43 different banks, the second-highest number of managing underwriters for a US listing on...
...Artificial intelligence and cutting-edge data analysis software mean that underwriters can now make predictions about the weather, natural disasters and senile dementia that previously “only god knew about...
...Japanese underwriter Tokio Marine has accused Greensill Capital of using “fraudulently obtained” insurance policies, firing the latest salvo in the battle over who pays for the collapse of the UK-based supply...
...Investors and underwriters need to work with development banks. And countries need to demonstrate they are serious about ESG by setting goals. “There needs to be an effort from all sides,” she said....
...The same underwriter had previously been personally lobbied by David Cameron, the former UK prime minister who was an adviser to Greensill....
...The underwriter was dismissed. The insurance backed supply-chain financing arrangements, where Greensill made payments to a given company’s suppliers and later received payments from that company....
...The underwriter was dismissed. Failure to continue its insurance cover would be “catastrophic” for Greensill, putting at risk 50,000 jobs among its clients, its lawyers said....
...The underwriter was dismissed....
...The underwriter was dismissed. Tokio Marine has declined to comment on its exposure to Greensill....
...“We plan to continue investigating the validity of the insurance policies,” Endo said....
...The company has not disclosed which underwriters have bought the Tesla policy risks....
...In July 2020, Tokio Marine said it would not extend or renew any Greensill policy — and that it had dismissed the underwriter in charge of the account....
...The biggest deals include the $5.7bn takeover of US-based Protective Life by Dai-ichi Life Insurance in 2014, MS & AD’s $5.3bn acquisition of UK underwriter Amlin and the $5bn takeover of StanCorp Financial...
...That could increase to $2.69bn if the underwriters exercise their option to buy an additional 4.9m shares....
...Insurance brokers queue up to sit on stools at the underwriters’ desks to discuss policies. Much of the work is still done on paper, sometimes with a rubber stamp....
...Now, the company has shifted almost entirely to signing long-term supply deals with institutions such as banks and life insurance companies....
...“A big part of it will be pressure checking the story and working with Dara [Khosrowshahi, Uber chief executive], the team and the underwriters to make sure you have a story that makes sense to take public...
...The rollout to banks, asset managers and insurance companies will accelerate in 2019....
...“I’d love to get the company back to being the underwriter that basically sets the standards in our industry.”...
...More recently, MS & AD, Japan’s largest non-life insurer, agreed in October to invest up to £800m in a UK unit of Swiss Re, following its $5.3bn acquisition of UK underwriter Amlin in 2015....
...Under the tagline “London makes it possible”, the city’s underwriters and brokers hope the campaign will remind companies around the world about the range of risks that can be covered in London....
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