IAG Settles Credit Suisse Greensill Lawsuit
Insurance Australia Group agreed to settle a nearly 2 billion dollar lawsuit with Credit Suisse over losses from the Greensill Capital collapse. The confidential settlement will not materially impact financial results.
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INSURANCE AUSTRALIA GROUP agreed to settle an A$2.8 billion ($1.96 billion) lawsuit with Credit Suisse on Friday morning over losses linked to the collapse of Greensill Capital. The settlement resolves a major legal dispute stemming from policies issued by the Australia-based insurer's trade credit unit. It follows a separate A$4 billion settlement reached earlier with Greensill Bank administrators.
