Insurance Australia Group said its unit Insurance Australia Ltd agreed to settle proceedings brought by Credit Suisse entities over insurance policies linked to Greensill. The claims had an aggregate face value of about A$2.8 billion ($2.0 billion), plus interest, although the settlement terms are confidential. IAG said anticipated recoveries from insurance and reinsurance arrangements and other indemnities meant the agreement would not materially affect its financial position or fiscal 2027 financial results. Citi analysts said the settlement appeared to resolve the dispute for a relatively minimal amount and could remove an obstacle that had deterred some investors from buying the stock. Citi has a last-published buy rating and an A$8.80 target price, while IAG shares were at A$7.80 ahead of the open. The proceedings formed part of broader Federal Court litigation involving policies purportedly issued by BCC Trade Credit on behalf of Insurance Australia Ltd to Greensill entities. IAG previously disclosed a May settlement with Greensill Bank and its insolvency administrator. White Oak’s separate proceedings, involving claims of about A$170 million plus interest, remain ongoing and are being defended by Insurance Australia Ltd. The litigation followed the 2021 collapse of Greensill, a supply-chain finance firm that caused losses for investors and lenders.