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...Tokio Marine is being sued by investors seeking payouts on the credit insurance, but expects no material financial impact....
...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,...
...“The response from Tokio Marine is very significant....
...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...
...Shilpa Strong, chief innovation officer at the insurer’s Houston-based operation Tokio Marine HCC, will take up the chief executive role at Tokio Marine Management Australasia early next month, replacing...
...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...
...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...
...White Oak argues that from at least July 2020, Marsh was aware that Tokio Marine, Greensill’s lead insurer, had taken the decision not to extend further insurance to the group....
...That’s exactly the scenario a unit of Japanese insurance firm Tokio Marine is trying to persuade a court in Australia occurred in the case of collapsed finance firm Greensill Capital....
...Insurance Australia Group, 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...
...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...
...The original loan was flagged as part of an internal investigation by the insurance group Tokio Marine, whose decision to pull coverage of Greensill helped trigger its collapse....
...In just six US states that collected the data in 2020, more than 10,000 were on Medicaid, the medical insurance system for those on low incomes....
...Having previously written policies on behalf of its parent Insurance Australia Group, BCC was acquired by Tokio Marine in 2019....
...It works with dozens of insurers worldwide including the UK’s Aviva, Geico in the US and Japan’s Tokio Marine....
...Insurance broker Marsh, together with banking group Citi, designed the scheme, which is being underwritten by six global insurers including Chubb in the US, Japan’s Tokio Marine and France’s Axa....
...This week, Greensill took the desperate step of suing its existing insurers — BCC Trade Credit, Tokio Marine and Insurance Australia — in an attempt to force them to restore coverage....
...Insurers including Tokio Marine of Japan and Insurance Australia Group were involved in providing cover....
...group Tokio Marine in April 2019....
...Tokio Marine has declined to comment on its remaining exposure to Greensill....
...Those funds have insurance written by the likes of Insurance Australia Group and Tokio Marine....
...It said it was also co-operating with the prudential regulator to understand whether Australian insurers QBE and Insurance Australia Group, as well as Japan’s Tokio Marine, had exposure to the collapsed...
...Yet last year Tokio Marine, the Japanese insurance group that acquired BCC in 2019, said that Brereton had been fired after he insured credit to Greensill “in excess of his delegated authority”, with the...
...The main original insurance policy was written by The Bond & Credit Company, an Australian insurer that was acquired in 2019 by Tokio Marine....
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