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Insurance Australia Group Says Credit Suisse Settlement Not Finalized, Disputing Media Report

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Insurance Australia Group (ASX:IAG) said a settlement of the proceedings brought by Credit Suisse entities against Insurance Australia Limited has not been finalized, responding to an Australian Financial Review article published on Sept. 21 that reported the parties had reached a settlement, according to a Monday Australian bourse filing.

The company said it does not comment on confidential discussions between parties to litigation, with the proceedings relating to trade credit insurance policies purportedly issued by BCC Trade Credit.

IAG said its position remains that any settlement of the Credit Suisse proceedings is not expected to have a material impact on its financial position or fiscal 2027 results, based on anticipated recoveries including from insurance and reinsurance arrangements and other indemnities.

What else is happening in Asia?

Asia

Newlink Technology's Potential Acquisition of HK Ant Global Investment Falls Through

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HKG:9600
Asia

New Concepts Raises HK$4.9 Million from Share Issue

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HKG:2221
Asia

Eternity Investment Unit, Director Dispose Of Stake in China Healthwise

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HKG:0348HKG:0764