Fronting companies are facing challenges and greater scrutiny amid the recent Vesttoo scandal and Trisura matter with rating agencies and other stakeholders taking a closer look at the use of LOCs for reinsurance collateral. Following is an overview of the fronting market and what happened over the last several months to put this insurance model in the news.
Tag: KBRA
Lloyd’s Appoints New Rating Agency and Receives AA- Financial Strength Rating
Lloyd’s, the world’s leading insurance and reinsurance marketplace, today announced that it has appointed Kroll Bond Rating Agency (KBRA) to provide an additional independent opinion of Lloyd’s financial strength and further demonstrate the market’s exceptionally strong financial position to investors and customers. KBRA has assigned an AA- insurance financial strength rating (IFSR) to Lloyd’s with… Continue reading Lloyd’s Appoints New Rating Agency and Receives AA- Financial Strength Rating