Clear Blue sues Aon over alleged involvement in Vesttoo collateral fraud

04 December 2023

X
LinkedIn
Show more sharing options

Clear Blue has sued Aon in a Manhattan court, alleging the broker facilitated the fraudulent activity conducted by ILS InsurTech Vesttoo, which provided letters of credit (LOCs) as collateral to Aon’s ILS transformer platform White Rock.

The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on Vesttoo, and that it falsely represented each insurance and reinsurance transaction as fully collateralized and compliant.

“Aon/Aon

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

Gain a competitive edge and accelerate decision-making
Be empowered by insights that transform confusion to clarity
Uncover growth opportunities and prepare for potential threats

Request a free trial Already a subscriber? Login now

Clear Blue sues Aon over alleged involvement in Vesttoo collateral fraud

Clear Blue has sued Aon in a Manhattan court, alleging the broker facilitated the fraudulent activity conducted by ILS InsurTech Vesttoo, which provided letters of credit (LOCs) as collateral to Aon’s ILS transformer platform White Rock.

Fuel a smarter strategy with our actionable market intelligence

Topics

Most Recent

GIE Gareat’s terrorism bond prices near top end of guidance at 5.25%

American Coastal targets $100mn of Florida named storm coverage

Twia to target 43% more limit at $5.8bn on exposure growth and Beryl losses

Allstate pegs October cat losses at $226mn post-tax

Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM

Clear Blue sues Aon over alleged involvement in Vesttoo collateral fraud

Clear Blue has sued Aon in a Manhattan court, alleging the broker facilitated the fraudulent activity conducted by ILS InsurTech Vesttoo, which provided letters of credit (LOCs) as collateral to Aon’s ILS transformer platform White Rock.

Login to continue

Fuel a smarter strategy with our actionable market intelligence

Topics

GIE Gareat’s terrorism bond prices near top end of guidance at 5.25%

American Coastal targets $100mn of Florida named storm coverage

Twia to target 43% more limit at $5.8bn on exposure growth and Beryl losses

Allstate pegs October cat losses at $226mn post-tax

Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM