Marsh acquires trade credit insurer

Broker Marshhas acquired Aalst-based Trade Insure, a distributor of credit insurance policies in Belgium.

Founded in 1990, Trade Insure is focused mainly on the provision of trade credit insurance, a solution that can help to improve cash flow, reduce costs, lower borrowing rates and increase funding, as well as protect against bad debts.

The combined entity will trade under the name of Marsh Trade Insure and include all members of Marsh’s existing trade credit team in Belgium as well as all colleagues from Trade Insure. The Aalst-based team will also serve clients through Marsh’s offices in Brussels, Antwerp, Roeselare, Liège and Luxembourg.

Flavio Piccolomini, chief executive officer (CEO) of Marsh Continental Europe, said: “I am delighted to welcome the experienced team from Trade Insure to Marsh. Trade Insure has developed a compelling credit insurance offering for both SME and multinational clients across Belgium. When combined with Marsh’s capabilities, we will be able to offer them world-class services and solutions.”

Luc Gillijns, managing director of Trade Insure, added: “This transaction is exciting news for both our clients and colleagues. Our clients will have access to a wider range of products and services and our colleagues will have enhanced career opportunities.”

Henri Steyaert, CEO of Marsh Belgium and Luxembourg, said: “The combination of Trade Insure’s broad Belgian client base with Marsh’s regional and global capabilities will enable us to deliver an unparalleled range of solutions to clients in Belgium and abroad at a time when many of them are looking for the protection trade credit insurance can offer.”