Australia’s Largest P/C Insurer Says It Has No Net Exposure to Greensill Capital March 9, 2021 Insurance Australia Group, the country’s largest general [P/C] insurer, said on Tuesday it had no net exposure to supply chain...
Greensill Files for UK Insolvency After Losing Insurance for Debt Repackaging Business March 8, 2021 LONDON – Greensill Capital filed for insolvency on Monday after losing insurance coverage for its debt repackaging business and said...
Credit Suisse Knew Frozen Greensill Funds’ Insurance Cover Relied on One Insurer: Report March 8, 2021 By Lucca de Paoli, Luca Casiraghi and Donal Griffin Long before Credit Suisse Group AG was forced to wind down a $10 billion group of funds it ran with...
Greensill Downfall Began with Firing of Insurance Manager at Sydney Unit of Tokio Marine March 5, 2021 By Donal Griffin and Jonathan Browning The debacle that led to the unraveling of Lex Greensill’s trade-finance empire began with the firing of a manager at...
Greensill Capital’s Funding Crisis Could Lead to Losses for Insurers, Banks: Analysis March 4, 2021 By Tom Bergin LONDON – A funding crisis at Greensill Capital could spill over to some of its high-risk borrowers and lead to...
Seeds of Greensill Capital’s Swift Fall Triggered When Credit Insurer Balked at Renewal March 3, 2021 By Lucca de Paoli and Nabila Ahmed The seeds for the rapid disintegration of Lex Greensill’s empire were sown eight months ago, when a little-known Australian insurer...
UK Broker Specialist Risk Group Buys Trade Credit Specialist, The Channel Partnership February 10, 2021 Specialist Risk Group (SRG), a London-based specialist insurance broker, has announced the acquisition of a UK trade credit specialist, The...
UK Businesses Face Miles of Red Tape with New Brexit Border Rules January 12, 2021 By Lucy Meakin, Lizzy Burden and Deirdre Hipwell While the mile-long lines of trucks have dissipated at ports, UK businesses are waking up to less visible forms of...
Germany Extends $37B Backstop for Credit Insurers to Keep Pandemic Trade Flowing December 4, 2020 Germany agreed to extend a backstop for commercial credit insurers by six months to keep trade flowing and prevent bankruptcies...
Pullback by Wary Credit Insurers Leaves Suppliers, Retailers in Bind September 8, 2020 By Anne D'Innocenzio Gold Medal International is sitting on millions of dollars worth of socks at its North Carolina warehouse that it can’t...