Vesttoo’s planned ILS deal was running credit risk and Root exposure
AM Best analysis of Vesttoo’s planned cat bond has underscored a high degree of structural and credit risk, along with a large exposure to auto risks from InsurTech Root Insurance, according to documents seen by this publication.
AM Best had given a preliminary bbb private rating to the Vescor transaction, through which the InsurTech ILS platform had hoped to raise $109mn.
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