Emerging risks | Growth Opportunities | APAC Insurance

Thursday, June 4, 2026

Insight by…

Insight by type

Insurtech Vesttoo cuts staff by 75%, shuts down Asian operations following fake letters of credit crisis: report

In the wake of the US$4bn credit letter scandal, the insurtech said it was taking measures to reduce costs and focus on core services.
Insurtech vesttoo cuts staff by 75 shuts down asian operations following fake letters of credit crisis report  rein asia
August 2, 2023

 • 

2 min read
MEMBERS ONLY
Continue reading with a free account.
Get access to in-depth analysis, breaking news, and exclusive features across APAC insurance.
• Free daily briefing in your inbox each morning
• 7-day trial of premium intelligence
• No credit card required
Existing user?

Sign in here

Read next

japans-paypay-to-acquire-70-2-stake-in-td-financial-life-for-us840-2m
oic-cuts-thai-insurance-growth-outlook-as-middle-east-conflict-raises-costs
thailands-oic-puts-insurers-at-centre-of-resilience-push-as-risks-and-costs-rise
chinas-nfra-issues-new-regulatory-framework-for-insurance-asset-management-firms