US-based insurance services firm Amynta has formed an alliance with French reinsurance major SCOR on trade credit managing general agent (MGA).
The partnership will see SCOR support the newly launched Amynta Trade Credit platform by providing a ‘responsive and focused’ approach to the trade credit insurance business in the US.
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The trade credit insurance offering protects the company’s receivables from the risk of non-payment.
Amynta has appointed Harpreet Mann, who has over 15 years of experience in the insurance industry, as the president of Amynta Trade Credit.
Mann joins from QBE Insurance, where she served as head of credit and surety in North America.
Mann said: “Amynta Trade Credit is being formed to bring a singular focus in providing a strong trade credit solution with unsurpassed service to the market. We are excited to partner with SCOR to provide excellent security to meet the needs of customers.”
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By GlobalDataOthers joining the team include Matthew Herzog, executive vice president, and Donna Messick, senior vice president.
SCOR global head of MGA chief underwriting officer Benjamin Auray said: “Our strategic partnership with Amynta demonstrates our continued commitment to trade credit insurance and to supporting best-in-class business partners. It also contributes to SCOR’s long term ambition to grow a diversified and profitable portfolio.”
Amynta MGA chief operating officer Anthony Slimowicz said: “This is an ideal time to launch a trade credit business, with significant opportunities for profitable growth.
“Harpreet brings exceptional leadership to the trade credit market, with a strong underwriting track record. SCOR is a great partner that provides highly-rated capacity with deep expertise in trade credit.”
In July 2021, Amynta bought Scion Underwriting Services, an MGA offering speciality casualty insurance to excess and surplus (E&S) lines market.
