Tokio Marine hikes full-year outlook due to rate growth Tokio Marine Holdings has revised its full-year forecast with an increase of £205m to £5.1bn, due to accelerated sales
UBS offers to repay former Credit Suisse clients 90 per cent of Greensill funds Banking Swiss banking giant UBS has offered to repay former Credit Suisse clients 90 per cent of the funds they invested with specialist finance firm Greensill Capital, which collapsed in 2021.
City braces for day of carnage as XR and Palestine protestors descend on Square Mile – with not even a pint safe PROTEST The Square Mile is set to play host to a raft of climate and pro-Palestine protests today, with one insurer's building already covered in red paint.
Leadenhall Market: Security ‘fully briefed’ on eco-activists plan to hassle Thursday drinkers February 28, 2024 Extinction Rebellion protesters brought chaos to the Square Mile yesterday, blockading a host of insurance industry buildings.
Extinction Rebellion blockades Lloyd’s of London building as City police make arrests February 28, 2024 Extinction Rebellion posted an image of a van full of equipment, including a megaphone and paint-covered items.
Nine arrests made after XR activists occupy four City insurance HQs including the Walkie Talkie February 27, 2024 The climate group says they 'occupied' lobbies of the various offices and buildings in protest of their profits from drilling for new oil and gas licences.
Howden seals £500m support to turn tech start-ups into underwriters October 16, 2023 Howden has secured £500m of delegated underwriting capacity backed by a group of Lloyd's of London firms for a newly launched division that aims to turn tech start ups into underwriters.
Plane crash victims seek £750m damages from insurers via High Court lawsuit September 22, 2022 Survivors of a plane crash that killed 71 people have filed a High Court lawsuit against insurers Aon and Tokio Marine Kiln seeking $844m in compensation over the 2016 disaster that caused the deaths of 19 members of Brazil’s Chapecoense football team. Victims of the 2016 LaMia crash that killed almost all of the [...]
Greensill Capital: The financial scandal that just won’t go away July 5, 2021 On Friday, it was announced that Credit Suisse will pay out a further $750m to backers of its Greensill-linked supply chain finance funds. Thus far, the lender has clawed back $6.1bn of the $10bn of its funding supported by collapsed supply chain finance firm Greensill Capital, up $200m on its previous update. The news follows, [...]
Lex Greensill apologises for Greensill Capital collapse as he faces ‘fraudster’ allegations May 11, 2021 Lex Greensill has apologised for the collapse of Greensill Capital and has blamed it on the firm’s insurance provider Tokio Marine pulling its coverage in March this year. Speaking to a Westminster committee today, Greensill said that “I bear complete responsibility for the collapse of Greensill Capital”, while also apologising to its clients and the [...]