UK-based trade credit insurtech Bondaval has announced that former Markel International director Simon Philpin will join as group chief commercial underwriting officer, effective from December.

Philpin has spent nearly 12 years at Markel, most recently as director of trade credit, and has held senior underwriting roles at Equinox Global and Atradius. He has also served as a member of the Association of British Insurers’ trade credit committee for 11 years, including two as chairman.

Bondaval, which provides technology-based trade credit insurance and non-payment guarantees, says Philpin will “spearhead the next stage of its commercial expansion”.

He will be responsible for expanding the firm’s global commercial footprint, driving growth in premiums across all sectors and geographies, and strengthening relationships with Bondaval’s broker partners, the company says.

Philpin reports to chief executive Tom Powell, based in London.

“As we expand globally, his vision and energy will play a central role in helping us transform not only our business, but also the wider credit insurance industry,” Powell says.

Philpin adds that Bondaval “is not only redefining how trade credit insurance is delivered but also reshaping the global market for the long term”.

“We have the chance to build a truly industry-leading business with unmatched reach, capability, and innovation,” he says.

Meanwhile, Bondaval announced last week it is partnering with Zurich-headquartered reinsurance giant Swiss Re.

Through the partnership, Bondaval’s technology platform will be used to underwrite and issue credit insurance policies, while Swiss Re provides insurance capacity.

“This allows Swiss Re Corporate Solutions to scale its global credit insurance business, while enabling Bondaval to continue to grow and expand across UK, EU, US and Canadian markets, with planned geographic expansion in the future,” the company says.