The hub has succeeded in attracting capital and reinsurers; now the challenge lies in developing the expertise needed to underwrite complex risks locally.
Following multiple Greensill-related settlements this year, the White Oak agreement closes IAG's final outstanding case, involving claims of approximately A$170m (US$119.5m) excluding interest.
The resolution comes days after Insurance Australia Group disclosed a similar settlement of Credit Suisse-related claims arising from the Greensill collapse.
Better underwriting in key segments and favourable reserve development have given the Indian export credit insurer strong technical earnings, though geopolitical risks remain.
The cases have drawn attention to K-SURE's buyer-screening processes, with lawmakers urging a reassessment of underwriting standards and coverage approval practices.
The insurer said any settlement would not be expected to have a material impact on its financial position or FY2027 results, based on anticipated recoveries.
The Singapore-based post goes to a graduate programme hire who has served as the insurer's multinational trade credit lead for EMEA and the UK since 2022.
Both insurers responded to a Financial Times report on their cover for the trader, which is accused of raising bank credit against invoices for trades that did not exist.
