Tokio Marine could face larger claims for Greensill collapse
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Japanese insurer Tokio Marine Holdings Inc. could be reportedly exposed to larger-than-expected claims resulting from the collapse of Greensill Capital Pty Ltd., due to the lack of reinsurance coverage for the unit which wrote the insurance policies, BNN Bloomberg reported. Tokio Marine’s Bond and Credit Company Pty Ltd. wrote around $10 billion Australian ($7.7 billion) worth of policies for Greensill at one point.
