-

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

Release Versions
English
Hashtags
#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

Social Media Profiles
AM Best / LinkedIn
More News From AM Best

Best’s Special Report: Non-Life Run-Off Insurers Illustrate a Changing Reinsurance Landscape

OLDWICK, N.J.--(BUSINESS WIRE)--The role of companies specializing in run-off transactions has morphed into being a key strategic capital partner for the insurance sector, helping companies to optimize capital, simplify operations and refocus on core business, according to a new AM Best report. While the non-life run-off insurance sector continues to exhibit a healthy volume of transactions, its composition has grown increasingly concentrated among a handful of dominant players. Historically, r...

Best's Review Looks at What’s Next in 2026

OLDWICK, N.J.--(BUSINESS WIRE)--The January issue of Best’s Review offers a variety of viewpoints about key issues for 2026: “Forward Thinking: Executives Discuss AI, Regulation, Secondary Perils” features insight from leaders across the insurance spectrum on emerging trends, organizational goals and recent successes that are shaping the industry’s future. “Forward Thinking: Views From the Top” presents opinions from executives and brokers about the significant issues they believe are being ove...

AM Best Assigns Credit Ratings to Aspida Re Cayman Ltd.

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Aspida Re Cayman Ltd. (AReC) (Cayman Islands). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect AReC’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). AReC provides rein...
Back to Newsroom