Bond & Credit Company News

Insurer Tokio Marine Expects No Material Impact on 2021 Results from Greensill Collapse

TOKYO – Japanese insurer Tokio Marine Holdings Inc said on Tuesday it currently expects no material impact on its results for the fiscal year starting next month as a result of its exposure to the fallout of Greensill Capital’s collapse. …

Greensill Capital Collapse Exposes Less-Than-Adequate Technological Capabilities

Lex Greensill promoted his business as the future of finance, talking up a technology superior to Wall Street rivals that allowed him to lend at super-low rates based on real-time information. But former staff at Greensill Capital, as well as …

Greensill Capital Creditors, Led by Softbank, Submit More Than $1.4 Billion in Claims

SYDNEY – Thirty-four creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, submitted over A$1.75 billion ($1.35 billion) in claims to the company, administrators said on Friday. About $1.15 billion of that was made …

Tokio Marine Faces Larger-Than-Expected Exposure to Greensill Capital Meltdown

Tokio Marine Holdings Inc. is facing a larger-than-expected exposure to the Greensill Capital meltdown after finding that reinsurance contracts intended to limit losses didn’t cover its unit that did the most business with Greensill. Tokio’s Australia Bond & Credit Co. …

Credit Suisse Investors Express Concern About Fallout from Greensill Collapse

ZURICH — Credit Suisse warned it may have to book a charge over its dealings with Greensill, as scrutiny grows over its relationship with the British finance firm that collapsed into insolvency. The Swiss bank has had to close around …

Credit Suisse Risk Officer Discovered in February Greensill’s Insurance Would Expire

ZURICH – Credit Suisse’s Chief Risk and Compliance Officer Lara Warner was not aware until late February that insurance related to British finance firm Greensill could expire on March 1, a spokeswoman said on Tuesday. “Contrary to certain reports, the …

Credit Suisse Freezes More Supply Chain Finance Funds as Greensill Scandal Widens

Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Lex Greensill’s failed empire. The additional funds have about $1.2 billion …

Credit Suisse Faces Questions from Regulators, Insurers After Collapse of Greensill Funds

ZURICH/TOKYO – Credit Suisse faces questions from regulators and insurers as it grapples with the fallout from the collapse of $10 billion worth of funds linked to British financial services firm Greensill Capital. The Swiss bank has hired external firms …

Tokio Marine Examines Validity of Greensill Insurance Policies Provided by Australia Unit

TOKYO – Japanese insurer Tokio Marine Holdings Inc. said on Wednesday it is investigating the validity of insurance policies provided by its Australian unit to speciality finance firm Greensill. Greensill filed for insolvency on Monday after losing insurance coverage for …

Here’s a Rundown of How Greensill Unraveled, the Key Players, and What Could Be Next

Lex Greensill’s business has unraveled at a blistering pace, leaving a tangled trail of destruction all around it. On Monday, Greensill Capital filed for administration in the UK, capping a stunning collapse for its founder. The bank that he owns …