Nationwide Excess and Surplus/Specialty has hired Jackie Magana to head its US trade credit business.

Magana starts at the firm on May 8 and reports to Nationwide’s global head of credit and political risk insurance, Lillian Labbat, who joined in late 2023 to lead the newly launched division.

Her primary responsibilities will include building a short-term, multi-buyer trade credit book, with an emphasis on both domestic and international corporate receivables and payables, as well as facilitating bank receivables programs.

According to Nationwide, Magana will oversee an “important segment” in the firm’s credit insurance offering.

“Jackie has nearly 20 years of industry experience, working with clients all over the world. Her expertise will be invaluable to our customers and to Nationwide as we offer a diversified product offering bringing structured, tailored solutions to both corporate and bank customers,” Labbat says.

For the past four years, Magana served as a senior underwriter at AIG, managing a portfolio of complex credit insurance transactions across a broad range of industries.

She also previously worked as a financial consultant and spent seven years at Zurich Insurance Group as a senior portfolio manager in credit and political risk.

A Nationwide spokesperson says the firm expects to start writing credit and political risk business by the end of Q2.