Vesttoo saga highlights importance of managing counterparty credit risk: AM Best
Reinsurance News - Aug 18, 2023
The Vesttoo saga, which entails allegations of fraudulent letter of credit (LOCs), “highlights the importance of carefully managing counterparty credit risk,” as it has now become clear that the bank at the heart of the situation grew LOC issuance significantly in 2022, according to anal...
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