Global advisory and broking firm WTW has acquired Invoice Cover, a Québec-based specialist in trade credit insurance.
WTW told GTR that the firm was acquired into Willis, its broking business, in December 2025 and will “significantly” strengthen Willis’ presence in the Canadian trade credit market.
David Lousky, president of Invoice Cover, will join the Willis team as growth leader for credit risk solutions, Canada, based in Montreal.
Founded in 2019, Invoice Cover provides expertise in receivables protection and counterparty risk, as well as solutions for political risk, working capital finance and factoring.
WTW said it had been “very impressed” with Lousky’s experience and his development of the business in a short space of time.
This year, the broker said it is aiming to grow its trade credit book, focus on its natural resources vertical with both credit and political risk, and introduce its in-house credit reporting agency, ProfitGuard, to the hard commodity sector in Canada.
The acquisition of Invoice Cover builds on WTW’s previous purchase of Detroit-based Global Commercial Credit (GCC), a broker specialising in credit and political risk insurance, and its sister company ProfitGuard last year.
WTW also bought CFS International, an LA-based trade credit insurer, in May. At the time, Todd Lynady, head of Willis financial solutions for North America, said: “Bringing CFS into WTW further demonstrates our commitment to building the leading trade credit platform in North America.”
