Lex Greensill’s finance empire formally enters administration; insurer IAG denies exposure

Australia’s biggest insurance company has had a rocky day on the sharemarket, as the collapse of Lex Greensill’s finance empire continues to ricochet.

After intense speculation over its solvency, administrators have formally been appointed to Greensill Group.

In the UK, Grant Thornton have formally been appointed to the two major entities that trade as Greensill Group, while its Australian parent company is also in voluntary administration with local counterparts.

“Greensill…