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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...
...MS Amlin is targeting growth in areas such as marine insurance, one of its specialities....
...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,...
...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,...
...He has already been turned down by 30 entities, including Berkshire Hathaway, Allianz, Munich Re, Swiss Re and Tokio Marine HHC....
...Earnings: Japanese insurance companies Tokio Marine, MS&AD and Sompo will publish their fiscal second-quarter results....
...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....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...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....
...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...
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...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...
...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....
...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....
...Tokio Marine has accused Greensill Capital of using “fraudulently obtained” insurance policies....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Volkswagen had already put the marine terminal for its car carriers outside the Key Bridge....
...’s largest banks to rebuild its depleted deposit insurance fund....
...Private capital investors have acquired more than $900bn in life and annuity assets in western Europe and North America, according to McKinsey & Company....
...IAG, alongside Tokio Marine and Zurich, are refusing to pay out on Greensill’s credit cover....
...The 20 vessels identified by the FT and Danwatch were carrying a total of about 10mn barrels of oil, according to Kpler, a data and analytics company....
...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....
...The mechanics of the NAIC’s rule change (as described by Barclays, Bank of America, regulators, industry groups and various other sources) are . . . not especially simple....
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