Brokerslink launches credit insurance business to meet growing global demand

Brokerslink, a network of independent brokers, has launched a specialist Trade Credit Insurance (TCI) practice to meet growing demand from its international subsidiaries.

This new TCI practice will give Brokerslink partners and affiliates access to a shared pool of expertise in the commercial credit sector, enabling brokers to enhance their services for local and multinational clients.

The commercial credit practice will be led by five regional ambassadors: Miguel Carranza of Alliant for the Americas, Phillip Krinker of MDS Group for Latin America.

Frantz Bouchereau of Filhet-Allard Crédit for Europe, Amine Bengraiou of Alpha Assurances for Africa and Dongmin Lee of LK Insurance Services for APAC.

José Manuel Fonseca, Chairman of Brokerslink, said: “Our new dedicated knowledge centre will enable us to share our immense wealth of specialist knowledge within our brokerage community. This, combined with our benefits and risk management practices, allows us to pool this knowledge for the mutual benefit of our network.”

The move follows a recent network survey showing that 75% of brokers were keen to expand into trade credit insurance, with half of these brokers identifying existing regional accounts that require international support, which Brokerslink is well placed to provide.

In addition to sharing trade credit knowledge across the global network, the new practice aims to increase access to credit and bonding capacity and create opportunities for international business and broader market reach.

Krinker commented: “The trade credit insurance market already has global premiums in excess of $11 billion with annual growth rates in the range of 10-30%. While the sector is currently dominated by large corporates in Europe and Asia, the global opportunity is significant. We have recognised this opportunity and responded to the demand from the network.”

“The new TCI practice has been designed to facilitate the transfer of knowledge between brokers, share best practices and help them strengthen their proposals.”

Brokerslink’s objective is to support the management of new global trade credit accounts from brokers’ existing portfolios and to generate new trade credit insurance premiums for the market.

This launch is part of Brokerslink’s broader strategy to share specialist market expertise and foster cross-border collaboration and growth, similar to its employee benefits practice launched last year.