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...One of Tokio Marine’s acquisitions, highlighted in a recent investor deck, was its April 2019 deal to buy the Bond & Credit Co, which provided $10bn of credit cover to Greensill Capital....
...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...
...Geico and Berkshire Hathaway Specialty Insurance declined to comment. Gen Re did not respond to requests for comment....
...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...
...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....
...He has already been turned down by 30 entities, including Berkshire Hathaway, Allianz, Munich Re, Swiss Re and Tokio Marine HHC....
...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....
...Its founder, Lex Greensill, told MPs in London this year that Tokio Marine’s decision not to renew his firm’s insurance cover “ensured” its collapse....
...Tokio Marine has accused Greensill Capital of using “fraudulently obtained” insurance policies....
...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...
...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...
...“I am optimistic that we will bring a [damages] case and we’ll be successful,” says Martyn Day, co-founder of law firm Leigh Day....
...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...
...What are the impacts of any efforts associated with things like ocean fertilisation [adding iron to the ocean to stimulate marine growth to absorb CO₂] or ocean colonisation [building human settlements on...
...“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 certificates were fraudulent because DGS Marine was not licensed to issue insurance in any of the jurisdictions from which it operated....
...Risk appetite, geopolitics, charter party obligations, insurance costs and arbitrage economics, not just the naval presence, are driving their decision-making....
...“It feels good to be a part of that tradition and to carry it on,” says Cox who, with his father, co-owns the decorating business Inside Out Painting which has been operating for more than two decades on...
...Have rising insurance premiums become a de facto carbon levy for consumers? A Big Read looks at the spiralling cost of insuring against climate disasters....
...Tokio Marine has said it does not expect any material financial impact from Greensill....
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