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Press Release

Decision by a Court in Bermuda

Credit Suisse Group takes note of the Bermuda Supreme Court’s judgment against a local life insurance subsidiary of Credit Suisse AG, Credit Suisse Life Bermuda, and refers to its press release of March 23, 2022.

The judgment relates to life insurance policies of one client of Credit Suisse Life Bermuda. The life insurance subsidiary has been closed to new business and in wind-down for more than seven years and has no other material business that will be affected by this judgment.

The judgment is not yet final and is subject to appeal, which Credit Suisse Life Bermuda intends to vigorously pursue.