Sources said IAG was quick to assure APRA that while its name appears on the insurance paperwork, the risk of those policies was transferred to its former partner Tokio Marine in 2019 during its exit from its joint venture BCC Trade Credit. APRA and IAG declined to comment.
Greensill and its insurers ,Tokio Marine and IAG, settled their dispute in the NSW Supreme Court late yesterday. Earlier on Thursday, Justice James Stevenson threw out a request by one of the parties to suppress court documents relating to the case. The court documents laid bare Greensill’s problems but also allegations by IAG that the policies were signed off by an employee of an IAG subsidiary without designated authority.
Greensill’s court filings revealed it received formal notice its insurance would not be renewed in September last year and has been unable to get new cover from different insurers.
Sources said IAG was quick to assure APRA that while its name...
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$7.31 |
Change
0.060(0.83%) |
Mkt cap ! $17.42B | |||
| Open | High | Low | Value | Volume |
| $7.30 | $7.37 | $7.29 | $10.41M | 1.422M |
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| No. | Vol. | Price($) |
|---|---|---|
| 20 | 19460 | $7.30 |
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| Price($) | Vol. | No. |
|---|---|---|
| $7.31 | 12098 | 9 |
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| IAG (ASX) Chart |