Broker network launches trade credit practice

Brokerslink has launched a trade credit insurance (TCI) practice to meet demand from its international network of independent brokers.

The TCI will provide partners and affiliates access to expertise in the trade credit sector, helping them bolster propositions for clients.

The practice also aims to increase access to credit and surety capacity, as well as enable new opportunities for international business.

Brokerslink chairman José Manuel Fonseca said:“Our latest dedicated knowledge hub will share the immense wealth of specialist knowledge we have across our broking community.

”This, along with our employee benefits and risk management practices, allows us to pool this knowledge for the mutual benefit of our network.”

Leaders

The practice comes after a survey conducted within the network revealed that 75% of brokers were interested in expanding their remit to trade credit insurance.

Of those, half have identified existing accounts in their regions for which they need international support.

The trade credit practice will be led by five regional ambassadors, including Miguel Carranza from Alliant for the Americas, Phillip Krinker from MDS Group for LATAM, Frantz Bouchereau from Filhet-Allard Credit for Europe, Amine Bengraiou from Alpha Assurances for Africa and Dongmin Lee at LK Insurance Services for APAC.

“The trade credit insurance market already sees global premiums in excess of $11bn with an annual growth rate in the region of 10-30%,” Krinker said.

”Whilst the sector is currently dominated by large corporates in Europe and Asia, the opportunities globally are substantial. We’ve recognised this opportunity and responded to the demand coming from the network.”