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Best’s Commentary: AM Best to Review Collateral Arrangements at Rated Fronting Insurance Companies

OLDWICK, N.J.--(BUSINESS WIRE)--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. For more information, visit www.ambest.com.

Copyright © 2023 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Sridhar Manyem
Director, Industry Research and Analytics
+1 908 882 2087
sridhar.manyem@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Industry:

AM Best

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English
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#insurance

Contacts

Sridhar Manyem
Director, Industry Research and Analytics
+1 908 882 2087
sridhar.manyem@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

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