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Japanese Insurer Tokio Marine Settles Australian Lawsuit With UBS' Credit Suisse

MT Newswires·09/28/2026 05:20:14
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05:20 AM EDT, 09/28/2026 (MT Newswires) -- A unit of Japanese insurer Tokio Marine Holdings settled an Australian lawsuit filed by Credit Suisse, now part of UBS Group (UBSG.SW), over insurance policies linked to failed supply chain finance company Greensill Capital. Credit Suisse Virtuoso SICAV-SIF and Credit Suisse Nova (Lux) units sued Tokio Marine & Nichido Fire Insurance Co., Insurance Australia, BCC Trade Credit and others in the Federal Court of Australia over insurance policies allegedly issued to Greensill, according to a Monday release. The settlement terms are confidential and do not constitute any admission of the plaintiffs' claims or liability by Tokio Marine & Nichido Fire Insurance.