Settlement of Lawsuit in Favor of Insurance in Switzerland
Qiyas summary
EFG settles Kuwait Insurance lawsuit for 5 million francs
Translated by Qiyas from النهار — Original source
Swiss banking services group EFG International announced a final and comprehensive settlement of the legal case filed against it by Kuwait’s Public Institution for Social Security, thereby ending the litigation in the United Kingdom. The settlement will have a limited additional financial impact, estimated at around 5 million Swiss francs, within the net profits for the second half of 2026, to close out the previous litigation files. The Kuwaiti pension fund accused Man Group, the asset management firm, EFG, and other parties of laundering bribe money.
