Berlins TodaySept 25 (Reuters) - Insurance Australia Group said on Friday its unit had agreed to settle a A$2.8 billion ($1.96 billion) Credit Suisse lawsuit over losses linked to finance firm Greensill Capital. Here are some key details: • The insurer did not disclose the terms of the settlement citing confidentiality. • The aggregate face value of the claimed amounts in the Credit Suisse Proceedings was about A$2.8 billion plus interest, Insurance Australia said. • The proceedings relate to policies issued by Insurance Australia's unit BCC Trade Credit to Greensill entities. • The settlement comes just months after Insurance Australia agreed to settle a A$4 billion lawsuit by the administrators of Greensill Bank. • The 2021 collapse of Greensill Capital led Credit Suisse to wind down $10 billion in funds linked to the firm. • Last year, Credit Suisse had lost a $440 million lawsuit against SoftBank Group Corp over funds Greensill had lent to Katerra, a construction company backed by the Japanese group. • UBS Group, which took over Credit Suisse after its 2023 collapse, did not immediately respond to a Reuters request for comment. • Insurance Australia said the remaining proceedings brought by White Oak against its unit Insurance Australia Limited remain ongoing, with the aggregate face value of claim amounts at nearly A$170 million. • The insurer said the Credit Suisse settlement would not have a material impact on its 2027 financial results. ($1 = 1.4261 Australian dollars) (Reporting by Nichiket Sunil in Bengaluru; Editing by Jonathan Ananda)
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