shutterstock_1220932669_resized

1 August 2023Alternative Risk Transfer

Vesttoo cuts staff to ‘regain our footing’ from collateral fiasco

Troubled alternative risk transfer and insurance-linked investment platform Vesttoo will slash staff in a cost-cutting move while management “returns its focus to core services” to get through a fiasco concerning allegedly fraudulent collateral backing deals the group organized.

Already registered?

Login to your account

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Vesttoo liquidating Bermuda collateralised insurer after fraud scandal

9 August 2023 Crisis-hit insurtech wants to focus on ‘limited number’ of markets amid shake up at the top.

Scandal-hit Vesttoo: ‘significant’ senior execs exit, 50 ‘focused’ remain

7 August 2023 Vesttoo says KYC check was conducted on all parties internally and by external organisations.

article

Vesttoo looks to remove CEO after scandal, says ‘no plans to liquidate’

4 August 2023 Vesttoo considering removing CEO and another leader after placing them on forced leave.

More articles

US state insurance commissioners urge Musk to scrap Federal Insurance Office

Lockton Re reveals new US segment for programmes and MGAs

Talanx terminates agreement with Meiji Yasuda

Acrisure snags industry veteran to bolster expertise

MGA Alta Signa taps talent pool to bolster cyber division

Volante builds out board with former Helios, Ascot CEO

BMS swoops for UK broker in largest acquisition yet

Zurich partners with Blink to expand parametric offering

Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze