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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.

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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.

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

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

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