Insurance Australia Group rises after Credit Suisse lawsuit settlement clears overhang
25/09/2026 02:01
BUZZ-Insurance Australia Group rises after Credit Suisse lawsuit settlement clears overhang ** Shares of Insurance Australia Group IAG.AX rise nearly 2% to A$7.95, marking their biggest intraday pct gain since September 11
** Insurer says its unit, Insurance Australia Limited, agreed to settlement with Credit Suisse entities related to losses linked to finance firm Greensill Capital
** Says aggregate face value of claimed amounts in Credit Suisse proceedings about A$2.8 billion ($1.96 billion)
** Citi sees this as a welcome end to what has been potential stock overhang for some time
** Stock trims YTD losses to about 0.7%
($1 = 1.4271 Australian dollars)
(Reporting by Sneha Kumar in Bengaluru)
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Insurance Australia Group rises after Credit Suisse lawsuit settlement clears overhang