TOKYO -- The decision by Japanese insurer Tokio Marine Holdings to limit its exposure to Greensill Capital came more than a year after taking on problematic policies covering the British financial group, underscoring shortcomings in risk management.
Greensill, a SoftBank-backed company that specializes in supply-chain finance, filed for insolvency Monday after Credit Suisse Group suspended $10 billion in funding. The suspension was apparently triggered by Tokio Marine's refusal to renew insurance policies protecting Greensill against payment defaults, thrusting the provider into the spotlight.
