Vesttoo
-
The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff. -
A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.
-
The Official Committee of Unsecured Creditors is turning the spotlight on Vesttoo’s current board and management.
-
Most of the broker’s clients have incurred losses below or about equal to ceded premiums and only one with losses exceeding ceded premiums.
-
The company also said that it has secured the replacement of all reinsurance on its ongoing portfolio of business through third-party reinsurers and an affiliated reinsurer.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Yu Po provided 79% of supposed capacity behind the 65 transactions closed by Vesttoo since 2020.
-
Since 2020, Vesttoo has quoted 96 and closed 65 transactions with collateral totaling roughly $3.9bn, according to a court filing.
-
Through legal representatives, Bertele “strongly” rejected all allegations made against him by Vesttoo in a Thursday statement.
-
Court filings indicate use of “phony phone numbers” and creation of a “wholly fictitious person” in the letters of credit fraud that has engulfed Vesttoo.
-
-
HOA has secured approximately $147mn in supplemental reinsurance coverage, replacing 84% of what was in place under a terminated agreement with Aon White Rock.
Most Recent
-
Need to Know: Markel, Cadence
September 25, 2023 -
M&A weekly roundup: Gallagher, Inszone, Risk Strategies and more
September 22, 2023 -
Miami MGA Redline secures Lloyd’s coverholder status
September 22, 2023 -
AM Best goes negative on Shelter Mutual’s Long-Term ICR
September 22, 2023
