Xenia Broking Group Ltd., the credit insurance and surety specialist broker, announced it has acquired a majority stake in Capstone Insurance Brokers Ltd., a Hong Kong-based insurance broker with specialist expertise in financial lines and digital asset insurance. This acquisition …
Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would “vigorously defend” itself against any legal claims. Greensill’s supply chain …
Italy approved a long-awaited decree needed for the Treasury to buy credit insurance agency SACE from state lender Cassa Depositi e Prestiti (CDP) in a deal expected to be worth around 4.25 billion euros ($4.81 billion), sources told Reuters. The …
Willis Towers Watson announced it has launched a new risk and analytics model for the trade credit market. The model analyzes clients’ trade receivables to predict potential losses over a range of statistical scenarios. A typical model run covers: Rating …
Global re/insurance adviser Pro Global Holdings Ltd. announced the incubation of environmentally focused managing general agent, Tierra Underwriting Ltd., by its independent managing general agent incubator subsidiary, Pro MGA Solutions (Pro.MS). Launched in 2016, Tierra is an MGA that underwrites …
The business model used by collapsed supply chain financing firm Greensill Capital is causing a “high level of harm” and tighter rules are needed, Britain’s Financial Conduct Authority said on Friday. The watchdog set out proposals for public consultation to …
These international People Moves detail appointments at three insurance brokers: TigerRisk Partners, Lockton Re and Miller. A summary of these new hires follows here. TigerRisk Partners LLC, the Stamford, Conn.-based global insurance and reinsurance broker, announced it will appoint James …
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, has formed a partnership with green finance managing general agency, Tierra Underwriting Ltd. ArgoGlobal is providing $25 million in underwriting capacity to support the MGA, supporting Tierra Underwriting in transactions that …
Xenia Broking Group, the London-based credit insurance and surety specialist, announced it has entered into an agreement to acquire Credit Insurance Alliance (Brokers) Ltd. (CIA). An independent trade credit insurance broker based in the West Midlands, England, CIA specializes in …
Credit Suisse told investors the debt in its $7.3 billion finance fund was low risk because it was insured but the bank failed to ensure the policies would pay out, two sources told Reuters. When Japan’s Tokio Marine, the company …
