The insurer Markel Corporation will begin underwriting trade credit insurance from its New York office in July.

A new trade credit team will be managed by senior underwriter Philip Amlot, who relocates from London to New York.

Markel plans to further establish its trade credit portfolio in the US, which has so far been underwritten from London. The New York team will work in parallel to similar trade credit underwriting teams in London, Munich and Singapore.

Two of Markel’s insurance companies – Markel American Insurance Company and Markel Insurance Company – will be used to underwrite admitted policies.

“Our ability to write in the US broadens the scope of our trade credit offerings to US clients and their brokers, at a time when the US economy and local interest in credit insurance solutions are growing,” comments managing director of Markel’s trade credit unit, Ewa Rose.

She says: “The trade credit insurance market in the US continues to grow and is becoming increasingly sophisticated. There has been a marked increase in demand for trade credit insurance to support capital relief related solutions, an area where Markel has a particular expertise.”

“The US launch gives us a truly global presence. With a base in New York we can make best use of our established and proven relationships with US brokers delivering products that suit their clients’ needs.”