Aon Vesttoo litigation highlights growing scrutiny on due diligence responsibility

Published: Mon 31 Jul 2023

As multiple investigations seek to confirm the circumstances around alleged fraud on collateral posted in Vesttoo-related reinsurance transactions, counterparties are beginning to take a stance on where responsibility may rest for any failures in due diligence of letters of credit (LOCs) purported to have been issued by China Construction Bank (CCB).