Insurer Tokio Marine accuses Greensill of fraud

By Najiyya Budaly (April 4, 2022, 4:37 p.m. BST) – Insurer Tokio Marine said on Monday it would not pay out on several insurance policies linked to Greensill Capital, the financial firm that collapsed more one year, alleging that they were obtained fraudulently.

Tokio Marine Holdings Inc. said in a statement it would not honor insurance policies held by companies linked to Lex Greensill and his supply chain finance group after conducting a thorough investigation.

The Tokyo-based insurer said it discovered that Greensill had fraudulently misrepresented matters important to underwriting policies at BCC Trade Credit Pty Ltd., the Tokyo-based Australian…

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