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Australia's IAG Settles AU$2.8 Billion Lawsuit with Credit Suisse Over Greensill Policies

MT Newswires·09/25/2026 09:35:03
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09:35 AM EDT, 09/25/2026 (MT Newswires) -- An Insurance Australia Group unit agreed to settle an over AU$2.8 billion lawsuit brought by UBS Group's (UBSG.SW) Credit Suisse related to policies issued to failed finance firm Greensill Capital. The settlement between Insurance Australia Ltd. and Credit Suisse will not have a material impact on IAG's financial position or full-year 2027 results, according to a Friday release. Terms of the settlement were not disclosed. IAG said its unit continues to defend against separate claims for AU$170 million brought by White Oak. The Australian insurance group previously settled a separate lawsuit filed by Greensill Bank and its insolvency administrator in late May.