Trade finance and trade credit insurance exchange LiquidX has appointed Alex Bursak as Director and Regional Head of Insurance for the Asia Pacific (APAC) region.
In his new role, Bursak will be based in Singapore to help with LiquidX’s strategic expansion in Asia, as well as in the broader trade credit insurance market.
He has over 15 years of experience in trade finance and has held roles in corporate banking and trade credit insurance.
Bursak joins LiquidX from Euler Hermes Asia Pacific, where he most recently served as Head Distribution for Singapore.
Ali Hackett, Chief Revenue Officer of LiquidX commented: “LiquidX’s insurance business is surging, driven by a substantial increase in demand for insurance and receivables puts from asset managers and trade finance banks. In addition, we’ve seen a huge rebound in interest for trade finance and working capital assets in Asia from our growing base of 50+ funders.
“Alex will be instrumental in strengthening our position as the leader in digitising the trade credit insurance market and will accelerate the reach for all LiquidX trade finance solutions in the APAC region.”
Jim Toffey, CEO of LiquidX added: “By 2025, upwards of 30-50% of trade credit insurance will be originated, managed, and transacted online. These capabilities are built into our pioneering LiquidX 360 platform, which already serves the majority of carriers in the North American market with an aim of 15 carriers globally by the end of the year.
“With Alex joining our Singapore team, on top of tremendous 2020 insurance growth and our recent multi-year investment from Broadridge Financial Solutions, we are very well-positioned for market leadership in 2021 and beyond.”