BMA and White Rock Bermuda to take joint action against Vesttoo cells over alleged fraud
The Bermuda Monetary Authority (BMA) and White Rock Bermuda have agreed jointly to act against the alleged fraud involving letters of credit (LOCs) pledged on Vesttoo (re)insurance deals.
Liquidators have been appointed to recover assets from Vesttoo segregated account cells operated by White Rock Bermuda, which is Aon’s ILS transformer vehicle that provides reinsurance coverage on behalf of external investors.
Uncover exclusive insights tailored for insurance leaders
- Stay Informed: Access exclusive industry insights
- Gain a competitive advantage: Hear first about tactical developments
- Make better decisions: Understand market dynamics in crucial lines of business