LiquidX, the international network for illiquid assets, has announced the addition of Great American Insurance Group and subsidiary FCIA Management to its trade credit insurance marketplace.
The recently-launched platform enables insureds to electronically and directly access the trade credit underwriting market for their insurance requirements, and is open to any interested insured party, providing them with market value transparency.
Great American issued its first policy to Highmore Group Advisors, a global alternative asset management firm.
LiquidX says the insurance transaction involved underlying assets that Highmore purchased on the accounts receivable marketplace and subsequently insured with Great American via the trade credit insurance marketplace.
These are reportedly the first linked transactions executed by either party on the LiquidX network and highlight the value of being able to transact across trade finance, insurance and working capital all on one screen.
“Great American is a market-leading Specialty P&C insurer and we’re very pleased to have them join the LiquidX network,” explained Glenn Kocher, Co-Head of Sales at LiquidX.
“With Great American and FCIA now joining the platform, trade credit insurance buyers have electronic access to additional capacity on any single risk.”
Dipak Jogia, Founder and Managing Partner at Highmore Group Advisors, commented, “Through LiquidX we are able to make short-term, high-yielding investments and seamlessly insure them with the leading trade credit insurers, such as Great American, all on the same platform. We value our partnership with LiquidX and look forward to working with Great American.”
Phil Lally, President of FCIA, added, “The insurance market will continue to move toward digital solutions such as the LiquidX trade credit marketplace and we are excited to be one of the first participants. Through the LiquidX platform we can offer clients a streamlined way to purchase trade credit insurance.”