Pol risk, credit & surety
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The new hire joins from Axis’ capital risk solutions team.
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The broker is looking to expand its footprint in a market where credit insurance policies and banks’ credit risk methods are converging.
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The collapse of the supply chain finance business was prompted by the removal of its trade credit cover. -
The carrier has also promoted internally for a new leader of its US political risk, credit and bond team as it continues to staff up the division.
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Funding from the UK and Germany will support early action and the managing of disaster risks in less wealthy countries.
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The advisory firm’s appointment cements plans for a global political risk, surety and trade credit business.
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The firm is working with Canaccord Genuity to explore options for the business.
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The Japanese carrier seeks to allay fears of higher-than-indicated losses arising from the collapse of the supply chain financier.
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The division will have a maximum capacity of $50mn for any one risk, with up to $250mn of syndicated capacity via the US.
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The Australian carrier says the sale of its stake in MGA BCC to Tokio Marine eliminated its exposure to the supply chain financier.
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Chancellor Rishi Sunak announces the extension in his budget.
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The move follows the departure of two senior PV specialists to ERS.
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