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Lex Greensill’s finance empire formally enters administration; insurer IAG denies exposure – ABC News
Australia’s biggest insurance company has a rocky day on the sharemarket, as the collapse of Lex Greensill’s finance empire continues to ricochet.
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.
Key points:
- The finance firm headed up by Australian billionaire Lex Greensill is in administration
- It follows speculation that insurance companies were refusing to renew policies
- Australia’s biggest insurance company says it is not exposed to the company’s collapse
After intense speculation over its solvency, administrators have formally been appointed…
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