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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....
...“There is a lot of cover for the [protection and indemnity] element to address,” said Neal, citing the $3bn of liability reinsurance that the ship has access to through the International Group of P&I Clubs...
...When insurance companies cede risk to reinsurers, they heavily scrutinise them either directly or via careful monitoring of their credit rating reports....
...Some reinsurers had argued for exclusions of these countries from framework contracts, they added, but had limited success....
...In July B3i, a consortium of 15 insurance and reinsurance companies, ceased activities and filed for insolvency....
...In response, the Treasury has limited the scope of its data collection to insurance providers that write 1 per cent or more of the US homeowners insurance market....
...The UK’s market is centred on Lloyd’s of London, which is a hub for negotiation of these policies, while Switzerland is host to big insurance and reinsurance groups such as Zurich and Swiss Re....
...So they are an insurance company for insurance companies. They do have a primary property casualty insurance unit, but mostly they’re reinsurance....
...The “live events reinsurance scheme”, which was set up in September 2021 and wound up a year later, paid out to the organisers of an electronic music festival after it was cancelled because the venue was...
...Some senior figures in London’s specialist market for insurance and reinsurance, centred around Lloyd’s of London, have warned for years that sluggish regulators and crudely drawn rules are causing it to...
...And at certain points I’ve had to step in and support more. So that’s probably for me, it’s having that room within my budget as a limited company director....
...This isn’t a trend that’s likely to be limited to the US either....
...The controversy comes as Lloyd’s last year reported its best underwriting performance since 2015 as a sustained upswing in commercial insurance and reinsurance prices more than made up for big claims from...
...As we argued yesterday, the main source of discipline in any company comes from management’s fear and greed. Suppose all of SVB’s depositors had been guaranteed....
...coverage against the risk of default on Greensill Capital’s supply chain lending — with the financial risk held by the big global insurance and reinsurance firms sitting behind BCC....
...Goldsmith called on the government to change the insurance scheme to avoid putting companies at risk of collapse....
...and reinsurance market....
...Besides Hiscox, he has served other prominent roles in the sector, including as deputy chair of Lloyd’s of London, and is currently the chair of Placing Platform Limited, a not-for-profit company set up...
...Lloyd’s of London, the specialist market for insurance and reinsurance, said it expected “multibillion-dollar losses” from the Ukraine crisis but was confident they would be manageable and that some predictions...
...“Targeting insurance isn’t a silver bullet, but things like that show us that the insurance angle is having an impact and is putting pressure in a meaningful way on these companies.”...
...They partnered with the World Bank, reinsurance company Munich Re and local business groups....
...This includes a prohibition on insurance and reinsurance and maintenance services. Further restrictions on the export of dual-use goods and technology, including semiconductors....
...Yet high-profile insurance company bankruptcies are nowhere to be seen....
...The insurance backed supply-chain financing arrangements, where Greensill made payments to a given company’s suppliers and later received payments from that company....
...Tokio Marine argues that its potential exposure to Greensill was limited because a significant proportion of the risk was covered by reinsurance....
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