Credit Suisse flags $500m hit to life arm over Bermuda oligarch case judgement

Mark Battersby
clock • 1 min read

Bermuda's Supreme Court is "shortly expected" to issue a judgment against a local life insurance subsidiary of the Credit Suisse banking group, costing more than $500m, the Zurich-headquartered group said in a statement on the evening of 23 March.  The judgment is likely to affect Credit Suisse Life Bermuda, it said. "Credit Suisse Group announces that a court in Bermuda is expected to publish shortly a judgment against a local life insurance subsidiary of Credit Suisse AG, Credit Suisse Life Bermuda, potentially totalling in excess of USD 500 million. "Credit Suisse has previously...