Vesttoo
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The firm said it had identified two specific transactions in which “collateral inconsistencies” were in question. -
The firm’s statement followed allegations in Israeli tech media of missing collateral linked to deals it was concerned in.
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The non-catastrophe ILS platform hit a valuation of $1bn after a Series C funding round.
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William Cheney is set to join the firm as head of insurance US later this month.
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The company will use the funds to expand its global presence, enhance its marketplace platform and widen its offering.
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The incoming CFO brings with him more than 15 years of experience in financial services, insurance and capital markets.
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Acrisure Re brokered the deal.
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Brian Kirwan, Douglas Min and Omar Ali have been appointed as general managers of Europe, Korea and the UAE, respectively.
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The insurance marketplace aims to bridge the gap between insurance and capital markets.
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Daniel Butzbaugh will work at the company’s New York office and lead its cat and industry loss warranty transactions.
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