Insurance Australia : Greensill Litigation Update

About this update from Insurance Australia Group Ltd

Company news Greensill Litigation Update 29 May, 2026 4 Share this story: IAG today announced that Insurance Australia Limited ( IAL ) has agreed to a settlement of the proceedings brought by Greensill Bank AG and Dr Michael C. Frege in his capacity as Insolvency Administrator of Greensill Bank AG against IAL and other parties in the Federal Court of Australia (the Greensill Bank Proceedings ). IAG said the settlement will not have a material impact on its financial position or FY26 financial results, based on the settlement terms and anticipated recoveries. The terms of the settlement are confidential. The Greensill Bank Proceedings are a subset of the litigation against IAL and other parties in the Federal Court of Australia relating to policies purportedly issued by BCC Trade Credit Pty Ltd on behalf of IAL to Greensill entities. The aggregate face value of the claimed amounts in the Greensill Bank Proceedings was approximately A$4 billion plus interest. The remaining proceedings brought by Credit Suisse and White Oak entities against IAL and other parties remain on foot. The aggregate face value of the claimed amounts in those proceedings is approximately A$3 billion plus interest and IAL continues to defend those proceedings. Tags: Share this story: Media enquiries Contact IAG media team Related Stories 12 May, 2026 Company news IAG unveils its Ambition 2030 refreshed strategy Strategy Financial Performance 23 February, 2026 Company news IAG Group Leadership Team update Financial Performance 12 February, 2026 Company news IAG Half Year 2026 Results Financial Performance

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