Insurer IAG is bearing the brunt of $3 billion in insurance claims filed by Credit Suisse following Greensill Capital’s collapse, the Swiss bank has revealed.

Almost 90 per cent of the $US2.2 billion ($3 billion) in claims made by Credit Suisse – as it tries to recover money for investors in its supply chain finance funds – are against IAG, which previously owned half of trade credit specialist Bond & Credit Co (BCC), the bank said in a briefing to investors this month.