Articles by Brenna Hughes Neghaiwi

Zurich Insurance to Sell Russian Business to Local Team

Zurich Insurance has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest Western firm to exit Russia. It joins a list of companies that have quit …

Credit Suisse Investors Push for Faster Climate Action

A group of Credit Suisse investors pushing for faster climate action at the Swiss bank has more than doubled in size, raising pressure on its board ahead of its annual shareholder meeting on Friday. Credit Suisse, along with other major …

Credit Suisse Shareholders Advised Against Clearing Board of 2020 Liability

Proxy advisers Glass Lewis and ISS have recommended Credit Suisse’s shareholders vote against discharging the bank’s board and management from liability for the 2020 financial year at its annual general meeting on April 29. Glass Lewis said in a report …

Credit Suisse Faces $500M-Plus Bill After Ex-Georgian PM Wins Bermuda Court Case

A Bermuda court on Tuesday ruled former Georgian Prime Minister Bidzina Ivanishvili and his family are due damages “substantially in excess of $500 million” from Credit Suisse’s local life insurance arm in a costly setback for the bank. The court …

Credit Suisse Faces Charges It Let Alleged Bulgarian Cocaine Traffickers Launder Money

Credit Suisse faced charges in a Swiss court on Monday of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros, some of it stuffed into suitcases. In the first criminal trial of a major bank in Switzerland, …

Update: Credit Suisse Files 5 Insurance Claims Related to Greensill-Linked Funds

ZURICH — Credit Suisse has filed five insurance claims related to $1.17 billion in exposure across two of its Greensill-linked supply chain finance funds, the bank said on Thursday. As of Dec. 31, it had filed five claims related to …

Credit Suisse Begins Filing Insurance Claims Over Greensill-Linked Funds

A first insurance claim has been filed and more are being prepared in Credit Suisse’s efforts to recover funds from its insolvent supply chain finance linked to Greensill, the Swiss bank said on Tuesday. The collapse of Credit Suisse’s $10 …

Credit Suisse Investors Express Concern About Fallout from Greensill Collapse

ZURICH — Credit Suisse warned it may have to book a charge over its dealings with Greensill, as scrutiny grows over its relationship with the British finance firm that collapsed into insolvency. The Swiss bank has had to close around …

Credit Suisse Faces Questions from Regulators, Insurers After Collapse of Greensill Funds

ZURICH/TOKYO – Credit Suisse faces questions from regulators and insurers as it grapples with the fallout from the collapse of $10 billion worth of funds linked to British financial services firm Greensill Capital. The Swiss bank has hired external firms …

Zurich 2020 Profit Drop of 8% Reflects Pandemic, Catastrophe Claims

Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected into full-year earnings. Insurers have faced hefty claims from event cancellations and …