Euler Hermes expands XoL unit with former AIG execs as co-heads

Trade credit insurer Euler Hermes has appointed Alexia Parmentier and Tim Hoggarth as co-heads of its London-based excess of loss (XoL) unit with immediate effect.

Parmentier joins the company as the head of XoL Northern Europe and will be responsible for growing the business in the region.

Hoggarth has been appointed as the head of special products. He will focus on the development of new services for the London market, including securitisation and the insurance of portfolios of medium term and leasing assets.

The duo helped to build company’s XoL business since its creation in 2012.

Parmentier has previously worked for the trade credit division of AIG as a corporate manager. Prior to this she was a broker at Aon, and began her career as a senior underwriter at Euler Hermes.

Prior to joining Euler Hermes, Hoggarth was the head of international trade credit at AIG London from 2001 to 2012, and was a broker at Aon before that.

Fabrice Desnos, chief executive officer of Euler Hermes Northern Europe, said: "Clients and brokers are showing increasing interest in non-traditional trade credit insurance cover and we are keen to help develop the market.

“Since launching our XoL service in 2012 we have developed a profitable portfolio and are now building upon this by expanding the team’s remit and underwriting capacity."

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