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Insurance Australia Group's Unit Settles Federal Court Dispute With Greensill Bank

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Insurance Australia Group (ASX:IAG) said its subsidiary, Insurance Australia, has reached a confidential settlement with Greensill Bank and its insolvency administrator, resolving Federal Court proceedings relating to allegedly issued trade credit insurance policies, according to a Friday filing with the Australian bourse.

The company said the settlement is not expected to materially affect its financial position or fiscal year 2026 results, the filing said.

The Greensill Bank case was part of wider litigation involving policies allegedly issued through BCC Trade Credit, with claims in that segment amounting to around AU$4 billion plus interest, per the filing.

Remaining proceedings initiated by Credit Suisse and White Oak entities, involving claims of around AU$3 billion plus interest, are still ongoing and are being defended by Insurance Australia, the filing added.

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