Best’s Commentary: AM Best to Review Collateral Arrangements at Rated Fronting Insurance Companies
- July 25, 2023 08:54 AM (EDT)
Oldwick //BestWire// - With the recent published news reports on Vesttoo, an insurtech platform, AM Best is monitoring the rapidly evolving situation and reviewing its rated fronting carriers and other insurers that have material amounts of reinsurance counterparty credit risk and reliance on various forms of collateral. Based on this review, rating actions will be taken as warranted.
Additional details can be found in the Best’s Commentary, “AM Best to Review Collateral Arrangements at Rated Fronting Insurance Companies,” available at http://www3.ambest.com/bestweek/purchase.asp?record_code=333866 .
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.