Credit Suisse Life Insurance Subsidiary in Bermuda Awaits Judgement of Possible Write-off of $500 Million
25th March 2022 | Hong Kong
Credit Suisse local life insurance subsidiary Credit Suisse Life Bermuda, is awaiting judgement of a possible write-off in excess $500 million, a charge on reserves that had previously been taken. Credit Suisse:” Credit Suisse has previously taken reserves against this matter and intends to pursue all available legal actions. We will consider whether any further reserves are required as part of our first-quarter results due to be published on April 27, 2022.”
“ Credit Suisse Life Insurance Subsidiary in Bermuda Awaits Judgement of Possible Write-off of $500 Million “
Credit Suisse is one of the world’s leading financial services providers. Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 50,110 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.