Sompo Canopius taps AIG exec to head trade credit business

Specialty re/insurer Sompo Canopius has hired Will Clark to head a new trade credit insurance team.

Clark joins Sompo from AIG, where he was the head of trade credit UK for over five years, growing the team, opening new markets and developing new products.

In his new role, Clark will report to global head of specialty Bernie de Haldevang, and will focus on establishing a new book of excess of loss short term trade credit business, forming part of a global market of some $9 billion of trade credit insurance premium.

Continuing its overall strategy of diversifying its business, Sompo Canopius stated that it has been targeting areas where it believes there is room to expand profitably and where it can offer additional value and variety of coverage to brokers and clients.

The group has made four more hires for the trade credit insurance team including Yvonne McCormack, Scott Morrison, Claire Davenport and Daina Muceniece.

Haldevang commented: "We have expansion plans for our specialty lines and establishing an experienced team with someone of Will's calibre as its leader is both a significant commitment and a noteworthy step.

"With only a few people writing this kind of trade credit business in London in a meaningful way, we believe that our offering will be immensely valuable to new and existing clients, providing sophisticated insurance buyers a tailored and high service level approach and giving them the backing and certainty that they need in difficult global market conditions."

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