New trade credit MGA launches

Equinox Global, a new managing general agency (MGA) for trade credit insurance, was launched today.

Equinox Global's current carrier panel is divided between Lloyd's (54.25%), Aspen Insurance (30%) and Liberty Mutual Insurance Europe (15.75%).

The Lloyd's portion is shared between Beazley Syndicate AFB 2623/623 (31%) and Pembroke Syndicate 4000 (23.25%).

Equinox Global, which is dedicated to the trade credit market, provides a mono-line platform backed by multi-line capital.

Steen Parsholt has been appointed as non executive chairman and Mike Holley is chief executive.

Parsholt said: “International trade with a minimum of friction is the backbone of economic growth in the globalised economy. In uncertain economic times it is more important than ever that trade is encouraged and it is here that the credit insurance industry has a central role to play.

"Trade partners need certainty; they need to know that payments will be made and they need certainty that their insurer is going to be reliable when the need is there. With a fresh approach Equinox Global will provide a new level of reliability and transparency to an existing rather traditional market."

Holley said: “We are taking a fresh approach to trade credit insurance. Our team of underwriters understand what is important to our customers, particularly transparency, security and accessibility.

"With excellent security and a talented and well known underwriting team we are pleased to be open for business and look forward to considerable growth over the next 12 months."