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...The head of Tokio Marine has said the Japanese insurance company “cannot run away from” natural catastrophe risk despite deepening concerns among investors and policymakers over rising industry losses linked...
...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,...
...Tokio Marine & Nichido Fire, which is one of Japan’s largest underwriters of corporate insurance against cyber attacks and a prime target for ransomware gangs, acknowledged to customers last month that it...
...The Bond and Credit Company’s parent company Tokio Marine earlier this year accused Greensill Capital of having “fraudulently obtained” these insurance policies....
...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...
...In recent years, 44 of the world’s biggest insurers, including five that have previously insured Carmichael — Brit, Apollo, Tokio Marine Kiln, Aspen and Ascot — have said they will not provide coverage to...
...IAG added that if the court ruled it had to pay out on the insurance, it would rely on the 2019 agreement to pass the credit insurance exposure to Tokio Marine....
...Greensill’s insurers, which include BCC’s former parent Insurance Australia Group, Tokio Marine and Zurich are refusing to pay out on the company’s credit cover....
...Some bulk annuity providers such as Aviva and Legal & General are part of broader groups offering other types of insurance and investments but PIC, founded in 2006, is a privately owned specialist in the...
...Tokio Marine has accused Greensill Capital of using “fraudulently obtained” insurance policies....
...In the UK asset manager’s latest annual review (out last week but we only got around to reading it) co-CIO Maxey revisited his 2022 prediction, and mused on whether the danger has “been averted, or merely...
...But Greensill’s insurers have questioned the validity of the insurance and argued that the lender misled them....
...and co-ordination” played a role in runway incursions....
...“This historic high seas treaty creates a co-ordinated approach to establishing marine protected areas on the high seas, a critical step to conserving ocean biodiversity,” said US secretary of state Antony...
...The company also began making plans to go public, following US peers such as Blackstone and KKR, in a move that would help Mackenzie and other co-founders cash out....
...Tokio Marine’s Australian subsidiary Bond & Credit Co arranged $10bn of insurance coverage for Greensill in happier times, back when the then heavily hyped start-up had backing from SoftBank’s Vision Fund...
...Tokio Marine, Credit Suisse, Scor, and Greensill’s administrator declined to comment on the proceedings....
..., such as is the case for other lines of business such as marine and aviation....
...One option would be for the insurer to keep holding executives’ feet to the fire while shifting its focus, ramping up pressure for it to appoint more senior executives and board members from the ranks of...
...IAG, whose subsidiary Insurance Australia Limited is named on the key insurance policies, told investors last year that the sale of its 50 per cent stake in BCC to Tokio Marine in 2019 had eliminated its...
...The Greensill policies were underwritten by an Australian subsidiary of Tokio Marine named The Bond & Credit Co....
...The Financial Times Ltd and the authors are not responsible for any direct or indirect result arising from any reliance placed on replies, including any loss, and exclude liability to the full extent....
...Tokio Marine and Insurance Australia Group, which insured the bulk of Greensill’s riskier lending, have both accused Greensill of making “fraudulent” misrepresentations and declined to pay out on any claims...
...“Today juniors who join us think ‘I can start in Paris and build a career there’,” said Thierry Sancier, one of the co-heads of Goldman Sachs’s office by the Arc de Triomphe....
...The court papers say that Yasuda Fire and Marine Insurance “recklessly, if not purposefully, ignored the provenance of Sunflowers that Christie’s published”....
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