Sompo Canopius bolsters trade credit team with new hire

Sompo Canopius, which has a significant presence on Bermuda, has appointed Will Clark as the head of its new trade credit insurance team.

The company said that Clark is a prominent figure in the trade credit insurance industry with over thirty years' experience in banking and trade credit insurance.

“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,” said de Haldevang. “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.”

Clark was previously at AIG and will report to Bernie de Haldevang, global head of specialty. The company said that Clark will complement its existing portfolio 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.

In addition, as it continues its overall strategy of diversifying its business, Sompo Canopius 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 – Yvonne McCormack, Scott Morrison, Claire Davenport and Daina Muceniece, who bring with them over 60 years’ combined experience in trade credit and trade finance - and will be further adding to its credit & political risk team as well.