US insurers had $1.3bn LOC exposures to CCB at the end of ‘22

AM Best says the Vesttoo situation highlights the importance of carefully managing counterparty credit risk, as it notes the US insurance industry’s exposure to letters or credit purported to have been issued by China Construction Bank leapt to $1.3bn at the end of 2022.


Want to read this article?


For details on how to subscribe or for all commercial opportunities, including advertising, please contact:

Spencer Halladey

Commercial director

+44 (0) 7540 000929

    Andy Stone

    Sales manager

    +44 (0) 7834 843176