Wells Fargo has announced the expansion of its insurance trust product to the UK and EU.
The product is an extension of the US version of the Wells Fargo insurance trust and offers an alternative to letters of credit (LOC).
"We are excited to be able to offer UK-based corporate insurers a lower-cost, more efficient alternative to addressing their collateral needs," said Brian Bartlett, head of Corporate Trust Services.
"Insurance trusts provide a number of advantages over LOCs. Customers will enjoy a high level of service when accessing this innovative product."
To continue reading, you need a subscription to Intelligent Insurer. Start a subscription today for £655.
In-house feature articles, the archive and expert comment require a paid subscription. Subscribe now.
Want to give it a try? We are offering a two week free trial to the Intelligent Insurer website – register and select “Two Week Free Trial” to begin access to the full Intelligent Insurer archive and read the latest news, features and expert comment. Begin your free trial here.
Is your 2 week free trial about to end? Upgrade to a 12 month subscription for £655 now.
If you have already subscribed please login.
If you have any technical issues please contact support.
Wells Fargo, UK, EU, Europe, insurance trust, Brian Bartlett