Equinox increases insurance capacity
Specialist trade credit insurer Equinox Global has increased its available capacity to underwrite US$30mn-worth of trade credit insurance per buyer.
More than US$30mn in cover will be offered to buyers by special acceptance, Equinox says.
Mike Holley, CEO of Equinox Global tells GTR that the firm’s increased capacity is down to extra demand from clients and that it is “likely that there will be further increases in the reasonably near future”.
Holley tells GTR that the main types of business clients are needing insurance for are companies who want non-cancellable credit limits; companies who use the policy to support trade finance, and where their bank is looking for a credit insurer with a strong credit rating; and companies who want to syndicate large exposures rather than leave them in the hands of a single insurer.
“The deals themselves are wide and varied, often linked to providing trade finance to support the exporter’s customer to finance inventory. And often export , about 75% of our book is outside UK.”