Insurance Australia Group stock closes final Greensill proceeding

Insurance Australia Group's subsidiary Insurance Australia Limited has settled the final Greensill-related proceeding, closing the remaining Federal Court litigation tied to the collapse of the supply-chain financier. Insurance Business reported that IAG told the ASX on October 28 that the White Oak claim had been resolved.

White Oak claim ends litigation

The proceeding had an aggregate claimed face value of A$170 million plus interest. The settlement terms remain confidential, so the immediate cash effect cannot be quantified from the announcement.

The case was brought against IAL and other parties over policies purportedly issued by BCC Trade Credit Pty Ltd to Greensill entities. It was the last outstanding matter among the Greensill-related proceedings involving IAG, following earlier settlements with Greensill Bank's administrator and Credit Suisse entities.

Limited FY27 earnings impact

IAG said the Greensill settlements would not have a material impact on its financial position or fiscal 2027 financial results. The insurer has pointed to expected recoveries from insurance, reinsurance arrangements and other indemnities in its earlier disclosures.

Insurance Australia Group stock traded at 5.55 euros on Lang & Schwarz at 21:09 CET on Friday, November 6, 2026; the real-time quote of Insurance Australia Group stock is available here.

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