Inovio Stock – Credit Suisse prepares insurance claims on Greensill Capital losses
June 16 (Reuters) – 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 https://on.ft.com/3gv5dOZ.
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. (Reporting by Kanishka Singh in Bengaluru; Editing by Muralikumar Anantharaman)