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.

Share

Insurtech vesttoo cuts staff by 75 shuts down asian operations following fake letters of credit crisis report
Picture of Editorial team

Editorial team

THIS PREMIUM INSIGHT IS FOR SUBSCRIBERS ONLY.

Stay ahead with precise, independent journalism of APAC's insurance markets.

Unlocked access today:

Already subscribed? Log in here

Read next

new-engineering-risks-underscore-importance-of-tailor-made-coverage
funding-question-slows-repurchase-of-parametric-cat-cover
ReinBrief-2024-09-24
bancassurance-to-benefit-from-economic-growth-in-asean
insurers-poised-to-capture-asias-us60bn-data-centre-opportunity
chinas-motor-insurers-need-to-ramp-up-risk-management-amid-rise-of-self-driving-cars-china-taiping
asia-pac-reinsurers-post-strong-set-of-first-ifrs-17-results
investing-in-ai-boundaries-key-to-incorporating-genai-across-insurance-value-chain
small-and-medium-chinese-p-and-c-insurers-face-profitability-challenge
monte-carlo-reflections-flatter-rates-shifts-focus-to-long-term-stability

Share this article