4 August 2023

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

In the aftermath of the fake collateral scandal, Vesttoo has placed its chief executive officer and chief engineering officer on paid leave and is considering removing them from their posts. The insurtech has recently announced the closure of certain offices but insists that it has no intention to liquidate.

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

Alternative Risk Transfer

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

1 August 2023 The firm must ‘return its focus to core services’ and slash costs for survival.

Alternative Risk Transfer

Aon faces first client lawsuits on Vesttoo collateral fiasco

1 August 2023 Aon may question 'alleged duty to procure appropriate letters of credit' for clients.

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.

More articles

Delegated business must ‘course-correct’ to avoid suboptimal underwriting: Lloyd’s

Troubled insurtech unicorn lures Allianz AGCS CEO for top role

Moody’s raises AXA outlook on earnings improvement

Miller targets reinsurance expansion with big swoop from Price Forbes Re

Mosaic unveils $200m terrorism coverage for fine art & specie market

Ascot secures ex-Carlyle chief as board chair with minority investment

Swiss Re expands GenAI-powered partnership to P&C reinsurance operations

Aon taps ex-Swiss Re insider for top global claims role

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