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Letters of Discredit: $4.8bn Vesttoo fake LoC sets stage for 2024 court drama

Lloyd’s tightens counterparty risk standards following scandal which rocked the (re)insurance sector.

By Aaron Woolner

January 24, 2024

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7 min read

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Market conditions continue to evolve as businesses review their priorities and plans for growth. The pace of change varies across the region, with local factors shaping how organisations respond.

Attention is turning to the balance between near-term opportunities and longer-term objectives. Decisions made today will help determine how businesses adapt as conditions develop.

While the outlook remains varied, the broader direction reflects a market adjusting to new demands. The implications will become clearer over time as plans move into practice.