Insurance broker Marsh announced Wednesday that it has acquired Trade Insure NV, a leading distributor of credit insurance policies in Belgium.
Terms of the transaction were not disclosed.
Founded in 1990, Trade Insure specializes in trade credit insurance, which can help to improve cash flow, reduce costs, lower borrowing rates and increase funding, as well as protect against bad debts.
Starting in January 2015, the combined entity will trade under the name Marsh Trade Insure and include all members of Marsh’s existing trade credit team in Belgium and all colleagues from Trade Insure, according to a statement from Marsh. The Aalst-based team will also serve clients through Marsh’s offices in Brussels, Antwerp, Roeselare, Liège and Luxembourg.
Marsh Trade Insure will offer a broad range of insurance solutions and advisory services to clients, Marsh said in the release. Alongside traditional insurance design, placement and claims handling, the company will provide specialty solutions for political risk and structured credit, as well as other services such as non-financial bonds.
Henri Steyaert, CEO of Marsh Belgium and Luxembourg, commented: “The combination of Trade Insure’s broad Belgian client base with Marsh’s regional and global capabilities will enable us to deliver an unparalleled range of solutions to clients in Belgium and abroad at a time when many of them are looking for the protection trade credit insurance can offer.”