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TOKYO – Japanese insurer Tokio Marine Holdings Inc. said on Wednesday it is investigating the validity of insurance policies provided by its Australian
Credit Suisse said on Friday it is winding down its $10 billion supply chain finance funds, which were mostly invested in notes backed by speciality finance firm Greensill.
8 Min Read (This March.4 story corrects paragraph three to make clear that GAM Holdings closure of the fund related to concerns about perceptions of supply chain finance rather than about asset valuations) LONDON (Reuters) - A funding crisis at Greensill Capital could spill over to some of its high-risk borrowers and lead to losses for insurers and banks that have done business with the UK-based supply chain finance firm if its clients default, according to several industry experts and a review of public filings. Greensill, backed by Softbank Group Corp’s Vision Fund, helps companies spread...
Germany's financial watchdog warned of "an imminent risk" that Greensill Bank would become over-indebted on Wednesday as it imposed a moratorium on the lender making disposals or payments.
(This March.4 story corrects paragraph three to make clear that GAM Holdings closure of the fund related to concerns about perceptions of supply chain finance rather than about asset valuations)