Insurance Australia Group rises after Credit Suisse lawsuit settlement clears overhang

By Reuters News01:01 (UTC), 25 September 2026 Updated

** 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)

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