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...Tokio Marine is being sued by investors seeking payouts on the credit insurance, but expects no material financial impact....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...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,...
...It has also rebranded another subsidiary, MSI Europe, as MSIG UK to help build up its position in the company market outside of Lloyd’s and reduce the unit’s traditional reliance on serving Japanese clients...
...“The response from Tokio Marine is very significant....
...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...
...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,...
...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....
...Earnings: Japanese insurance companies Tokio Marine, MS&AD and Sompo will publish their fiscal second-quarter results....
...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....
...He has already been turned down by 30 entities, including Berkshire Hathaway, Allianz, Munich Re, Swiss Re and Tokio Marine HHC....
...Tokio Marine has accused Greensill Capital of using “fraudulently obtained” insurance policies....
...Lloyd’s insurers Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among those that have pledged to hold the risk for a total of £500mn of insurance coverage written in partnership with these...
...IAG, alongside Tokio Marine and Zurich, are refusing to pay out on Greensill’s credit cover....
...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...
...Denmark has long provided specialists in marine navigation who are familiar with the narrow channels, sandbars and strong currents of the Danish Straits to any large vessel carrying oil or other dangerous...
...risks that at the moment they are charging an awful lot of money for, and we’re asking them to do it for less because of the support that the Ukrainians are [providing],” said Marcus Baker, global head of marine...
...Lloyd’s of London and Arch Insurance are listed as representative defendants on behalf of the multiple insurers on the policies....
...The centuries-old market has been at the heart of the marine insurance sector since its inception....
...unravel. 777 Re, a Bermuda-based reinsurer, has enabled 777 Partners to pursue an ambitious dealmaking spree that has included trophy sporting assets and football clubs from Genoa and Hertha Berlin in Europe...
...Far-right leader Marine Le Pen has at times made ambiguous comments about the procedure, such as in 2012 when she criticised so-called “abortions of convenience” and questioned whether national health insurance...
...own insurance cover in an attempt to prevent cancelled orders....
...Those firms have attracted funds as more stringent regulation following the financial crisis meant banks pulled back from lending to small and medium-sized businesses in the US and Europe....
...Neil Roberts, head of marine insurance at the Lloyd’s Market Association, said it still made economic sense at present for insurers, cargo owners, charterers and shipowners to continue shipments....
...The three companies were listed for “operating or having operated in the marine sector of the Russian Federation economy”....
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