Consortium to provide capacity for online trade credit platform Toredo

Consortium to provide capacity for online trade credit platform Toredo

Consortium to provide capacity for online trade credit platform Toredo

A consortium has been formed to provide capacity for Toredo, an online platform for single situation trade credit insurance. The consortium comprises The Channel Syndicate, Canopius and Liberty Specialty Markets. The London Market Credit Consortium (LMCC) will provide up to $75m of capacity per risk with a maximum two-year period. Chris Hall, who was hired by Liberty Speciality Markets in…

XL Catlin launches political risk, credit and bond insurance in France

XL Catlin launches political risk, credit and bond insurance in France

XL Catlin launches political risk, credit and bond insurance in France

XL Catlin has started a local political risk underwriting operation in France and Benelux, with the appointment of Eric Zandvliet as head of political risk, credit and bond (PRCB) for the region, based in Paris. Mr Zandvliet has held the role of senior underwriter, PRCB, at XL Catlin since 2014. Bruno Laval, regional manager, France and southern Europe, said: “Large…

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Specialty insurer Ironshore has expanded its political risk business lines in Asia-Pacific, by increasing capacity for its Singapore-based political risk and trade credit unit from $15m to $50m and hiring a new underwriter. Sam Lim joins from AIG and will report to Boo Hui Yun, managing director of Ironshore Asia-Pacific. The extra capacity is a result of greater concern about…

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Global business leaders have named economic risks – specifically unemployment in first place, followed by fiscal crises – as the top threats facing their organisation for the next ten years, according to a new survey by the World Economic Forum (WEF). Publishing its Global Risks Report in partnership with Zurich Insurance and Marsh & McLennan, the WEF said societal risks…

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

The ongoing escalations between North Korea and the rest of the world took another step when the United Nations (UN) voted to impose further sanctions on the rogue nation after its sixth and largest nuclear test. The measures were voted for unanimously by the 15 states that sit on the UN Security Council (including Russia and China). As a result,…

JLT acquires Belgian specialty broker to boost EU platform

JLT acquires Belgian specialty broker to boost EU platform

JLT acquires Belgian specialty broker to boost EU platform

Broker JLT has joined London market insurers in establishing a platform for EU business post-Brexit. JLT said it has acquired Belgian specialty broker Belgibo from EXMAR Group to complement its existing Benelux operations, but also to support its service to clients in all 26 EU states and three European Economic Area states, after the UK has left the EU. Based…

Euler Hermes hires new execs to lead APAC expansion

Euler Hermes hires new execs to lead APAC expansion

Euler Hermes hires new execs to lead APAC expansion

Credit insurance company Euler Hermes has made two senior appointments as part of its expansion plan for the Asian insurance market. Clemens Philippi has been recruited as chief executive of Euler Hermes ASEAN with responsibility for its activities Vietnam, Thailand, Singapore, Malaysia, Indonesia and the Philippines. He will be based in Singapore. Prior to the new position, Mr Philippi was…

Markel opens new trade credit office in Chicago

Markel opens new trade credit office in Chicago

Markel opens new trade credit office in Chicago

Markel Corporation has announced the launch of a new trade credit and political risk operation in Chicago. Christen Mizell will transfer to Chicago from New York to take on trade credit and political risk underwriting responsibility for the Midwestern states. Her role is to broaden Markel’s geographic footprint, with special focus on developing strategic broker relationships, supporting the existing client…

Sompo Canopius hires new credit and political risk analyst

Sompo Canopius hires new credit and political risk analyst

Sompo Canopius hires new credit and political risk analyst

Sompo Canopius has announced the appointment of Bruce Shepherd as credit and political risk analyst. He will head the credit analysis function in the group’s credit, political and crisis division. Mr Shepherd is an experienced credit analyst with experience in complex, structured credit risk in industrialised and emerging markets, as well as an underwriting background. He joins from QBE and…

Nexus Group acquires trade credit MGA Equinox

Nexus Group acquires trade credit MGA Equinox

Nexus Group acquires trade credit MGA Equinox

Specialty managing general agent (MGA) Nexus Group has acquired Equinox Global Ltd, the Lloyd’s coverholder, along with all other Equinox group companies. Established in 2009, Equinox is a fast-growing specialist trade credit MGA with offices in London, New York, Paris, Hamburg and Amsterdam. The company’s founding shareholders and management team of Steen Parsholt, Mike Holley, Rob Crampton and Vicki Harrison…