AIRLINK 74.15 Decreased By ▼ -0.45 (-0.6%)
BOP 5.09 Decreased By ▼ -0.05 (-0.97%)
CNERGY 4.43 Decreased By ▼ -0.07 (-1.56%)
DFML 34.25 Increased By ▲ 1.25 (3.79%)
DGKC 88.75 Decreased By ▼ -0.15 (-0.17%)
FCCL 22.26 Decreased By ▼ -0.29 (-1.29%)
FFBL 32.40 Decreased By ▼ -0.30 (-0.92%)
FFL 9.77 Decreased By ▼ -0.07 (-0.71%)
GGL 10.84 Decreased By ▼ -0.04 (-0.37%)
HBL 115.76 Increased By ▲ 0.45 (0.39%)
HUBC 136.74 Increased By ▲ 0.11 (0.08%)
HUMNL 9.81 Decreased By ▼ -0.16 (-1.6%)
KEL 4.60 Decreased By ▼ -0.03 (-0.65%)
KOSM 4.73 Increased By ▲ 0.03 (0.64%)
MLCF 39.85 Increased By ▲ 0.15 (0.38%)
OGDC 138.49 Decreased By ▼ -0.47 (-0.34%)
PAEL 25.83 Decreased By ▼ -1.06 (-3.94%)
PIAA 26.21 Increased By ▲ 1.06 (4.21%)
PIBTL 6.68 Decreased By ▼ -0.16 (-2.34%)
PPL 122.81 Increased By ▲ 0.07 (0.06%)
PRL 26.70 Decreased By ▼ -0.31 (-1.15%)
PTC 13.98 Decreased By ▼ -0.02 (-0.14%)
SEARL 58.85 Decreased By ▼ -0.62 (-1.04%)
SNGP 70.32 Decreased By ▼ -0.83 (-1.17%)
SSGC 10.37 Decreased By ▼ -0.07 (-0.67%)
TELE 8.56 Decreased By ▼ -0.09 (-1.04%)
TPLP 11.34 Decreased By ▼ -0.17 (-1.48%)
TRG 64.20 Decreased By ▼ -0.93 (-1.43%)
UNITY 26.15 Increased By ▲ 0.35 (1.36%)
WTL 1.39 Decreased By ▼ -0.02 (-1.42%)
BR100 7,829 Increased By 10.3 (0.13%)
BR30 25,442 Decreased By -134.5 (-0.53%)
KSE100 74,919 Increased By 255.1 (0.34%)
KSE30 24,144 Increased By 72.1 (0.3%)
Markets

Credit Suisse prepares insurance claims on Greensill Capital losses

  • Credit Suisse is attempting to recoup billions of dollars owed to the group of supply-chain finance funds, which it was forced to close in March, the report added.
Published June 16, 2021

Swiss bank Credit Suisse has prepared its first insurance claims on losses stemming from its $10 billion of funds tied to collapsed finance group Greensill Capital, the Financial Times reported on Wednesday.

Credit Suisse is attempting to recoup billions of dollars owed to the group of supply-chain finance funds, which it was forced to close in March, the report added.

The bank has started the process of claiming on the related insurance, primarily from Japanese group Tokio Marine, the newspaper said, citing people with knowledge of the process.

"While it is our general policy not to comment on individual policyholder relationships or policy terms, we currently do not anticipate any material impact on our financials for the 2021 fiscal year and onwards," Tokio Marine said in an emailed statement.

Comments

Comments are closed.