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.
The deal covers claims with an aggregate face value of about A$2.8bn (US$1.96bn) plus interest, leaving only White Oak's claims of about A$170m outstanding.
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 sentencing includes a HK$3.7m (US$471,626) restitution order in favour of CCB Asia, reflecting the value of cryptocurrency bribes accepted by the former banker.
The insurer's potential exposure will hinge on legal and contractual proceedings following the project's termination over force majeure and war-risk circumstances.
