Marsh books $425M charge

Marsh McLennan set aside a $425 million charge in the first quarter as it heads toward a major Greensill-related trial in Australia. (sec.gov) The company disclosed the charge in results released April 15, saying first-quarter operating income fell 12% to $1.8 billion and included the Greensill litigation hit. Revenue still rose 8% to $7.6 billion. (sec.gov) Global Trade Review reported April 17 that Marsh described the amount as a gross liability for possible losses and legal costs tied to Australian proceedings. Those cases are set to test claims by Greensill’s administrators and investors worth about $5 billion, plus interest and costs. (gtreview.com) At the center of the dispute is trade credit insurance, which works like a backstop if borrowers do not pay. Greensill used that insurance to support financing products sold to lenders and fund investors. (insurancejournal.com) Greensill collapsed in March 2021 after Bond & Credit Company did not renew policies covering billions of dollars of loans linked to the firm. Credit Suisse then froze four supply-chain finance funds with about $10 billion invested. (insurancejournal.com; finma.ch) The Australian litigation has widened beyond the insurer itself to include Marsh, which acted as broker on the policies. Plaintiffs allege Marsh made misrepresentations to lenders about the insurance cover, an allegation Marsh disputes. (gtreview.com) The case has also spread across jurisdictions. Australian and English courts have been dealing with related fights over where claims against Marsh should be heard and how documents from one case can be used in another. (millsoakley.com.au; claytonutz.com) Marsh has already resolved at least one separate Greensill-linked claim outside Australia. In May 2025, White Oak said it reached a settlement during a London fraud trial in which it had sought more than $140 million from Marsh. (taylorwessing.com) For Marsh investors, the new charge puts a concrete dollar figure on a legal overhang the company had previously flagged. For the broader Greensill fallout, it shows how a 2021 collapse tied to insurance wording and renewals is still producing multibillion-dollar claims in 2026. (sec.gov; gtreview.com)