Navitas Assurance Partners has announced its launch as a managing general underwriter to provide alternative energy assurance solutions through investment-grade trade credit and commercial surety providers.
Founder and Managing Director of Navitas Assurance Partners, Jay Rose, commented, “We are working to change the paradigm for alternative assurance.
“Our team is here to provide the resources necessary to meet the market demand and advance the utilisation of insurance balance sheets as alternative forms of assurance.
“We are working diligently with our credit insurance and surety broker partners to ensure Navitas resources are widely available to the market.”
The firm explains that the use of trade credit insurance and commercial surety as alternative assurance for energy commodity is growing fast, as it provides easily integrated, higher quality credit and commercial assurance tools designed for North American energy market participants.
Navitas adds that its team has more than 120 years of combined energy industry and insurance underwriting experience, and is set on delivering solutions that add liquidity, expand counterparty optionality, simplify assurance policy compliance, and unlock opportunity.
Navitas alternative energy assurance solutions will be available to a range of end-users across the energy spectrum, including producers, marketers, pipelines, power, processors, refiners, and renewables.
Before the formation of Navitas, Jay Rose worked for more than 16 years in a variety of roles with a global provider of trade credit.
In 2015, Rose launched a dedicated industry vertical practice in the trade credit community, which attained a market-leading position and headed the acceptance of demand bonds and fronting solutions to provide letter of credit equivalent instruments for energy commodity.
