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...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...It launched a new subsidiary in November to provide prevention and mitigation services....
...In late April 2019, just days after Japanese insurance group Tokio Marine announced it had acquired BCC, Lex Greensill requested that Brereton confirm the arrangement in a letter to be shared with BaFin,...
...Ingosstrakh separately confirmed that it reserved the right to cancel cover for vessels caught selling oil above the price cap — even if vessels had avoided using western services....
...Proponents of deep-sea mining would also have to overcome staunch opposition from environmental groups, who argue that exploiting the seabed could harm marine ecosystems including rare species that have...
...“The BMA would not approve any transaction that the [insurance company’s home] regulator does not support,” said the BMA....
...Among the latest actions, the PCAOB found that PwC ignored red flags in its audit of Aegean Marine Petroleum Network, one of the world’s largest traders of shipping fuel, which went bust in 2018 as a result...
...Lloyd’s boss John Neal told the Financial Times that the incident had the potential to produce the largest marine insurance claim in history, topping the crash of the cruise ship Costa Concordia in 2012,...
...Jonathan Dixon, secretary-general at the International Association of Insurance Supervisors, told the Financial Times that while the sweep of private capital groups into the life insurance sector helped...
...services in the Danish Straits, and urged coastal states to be vigilant....
...Marine insurance experts told the Financial Times that the accident would probably lead to a substantial claim, including for damage to the bridge and disruption to the port....
...Insurance Australia Group, one of the main insurers to Greensill Capital, has said that rival Tokio Marine and broker Marsh McLennan should share in any liability if investors in the failed lender win a...
...Hakluyt has named Bharti Enterprises founder Sunil Bharti Mittal and the senior vice-president of corporate development at Mars, Valerie Mars, to its international advisory board....
...One marine insurance expert said the liability insurance payout, including bridge damage, could rival the approximately $1.5bn paid after the crash of the Costa Concordia cruise ship in 2012, a record....
...The marine insurance market has also seen a sharp rise in the cost of travelling through the Red Sea and Suez Canal as a result of a wave of attacks by Iran-backed Houthi rebels....
...Both are alumni of consultancy McKinsey and came to insurance as outsiders — Wilson’s first job in insurance was at L&G, joining from events company UBM....
...has £73bn in private assets under management across fixed income, alternatives, real estate and infrastructure, a small slice of overall private capital markets which hit $13tn in 2022 according to the International...
...The line had been one of the few big international container lines still sailing through the area....
...One person familiar with the investigation said the IS had been focused on a decision by insurance company Tokio Marine to cancel its insurance contract and efforts by Lex Greensill to get them to extend...
...For example, CetoAI will look to marry its services, which provide live data analytics regarding a ship’s systems, with an insurance policy covering the vessel....
...David Henig, UK director at the European Centre for International Political Economy, said the deal was “broadly good news” and exploited Britain’s global weight in financial services....
...The intention is to make it more difficult for Russia to take advantage of services such as insurance without complying with the price cap....
...In August, the US International Development Finance Corporation supported $500mn of insurance for Gabon’s ocean territory, in a deal that helps lower the interest rate on the African nation’s debt....
...Additional reporting by Ian Smith, Insurance Correspondent...
...Sea open for international trade”....
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