Establishes U.S. Trade Credit Foundation by Markel
Markel Corporation, a leading global insurance provider, is set to commence underwriting trade credit insurance from its New York office as of July 2025. This move marks a significant expansion of the company's trade credit operations in the United States.
The new trade credit team in New York will work in parallel with similar teams in London, Munich, and Singapore. Heading this new team will be senior underwriter Philip Amlot, who is relocating from London to take up the position.
Markel American Insurance Company and Markel Insurance Company will be the insurance companies responsible for underwriting admitted policies for trade credit insurance. This move will enable Markel to cater to the growing demand for trade credit insurance in the US, particularly for capital relief related solutions, where the company has a particular expertise.
Ewa Rose, managing director of Markel's trade credit unit, commented on the expansion, stating that the US economy and local interest in credit insurance solutions are growing. She further added that this expansion presents an opportunity for Markel to deliver products that cater to this growing demand.
With a base in New York, Markel can make best use of its established and proven relationships with US brokers. The products Markel delivers will suit the needs of these brokers' clients, further broadening Markel's trade credit offerings to US clients and their brokers.
The trade credit insurance market in the US is growing and becoming increasingly sophisticated, making it an ideal market for Markel's expansion. This expansion gives Markel a truly global presence and positions the company to meet the evolving needs of its clients in the US and around the world.
[1] Markel American Insurance Company and Markel Insurance Company will be involved in underwriting admitted policies for trade credit insurance.
[1] With the expansion, Markel American Insurance Company and Markel Insurance Company will not only be underwriting admitted policies for trade credit insurance but also contributing to the growing demand for trade credit insurance in the US, particularly for capital relief related solutions, where the company has a particular expertise.
[2] Heading the new trade credit team in New York, senior underwriter Philip Amlot will work in parallel with similar teams in London, Munich, and Singapore, enabling Markel to deliver products that cater to the growing demand for trade credit insurance in the US and broaden its trade finance offerings.
