Trade Credit Underwriters

Svensk & Company has recently organized a Bermuda-based Segregated Account Cell for underwriting trade credit insurance known as TCU.

The TCU cell has been organized under R&Q Quest’s Segregated Account Company with initial funding from Svensk & Company.

Supported by an A-Rated reinsurer, TCU is focused on underwriting one-off medium size trade transactions and has been accepting submissions since August 1, 2017.

In additional to our reinsurance facility, capital to support risk retentions under insurance policies issued by the TCU Cell is provided by each Member in amounts equal to their retentions. As such, the venture has elements of a group captive insurer without the need to purchase shares.

This captive structure has several benefits for the Insured Members including:

  • Easy entry and exit procedures
  • No commingling of risk with other Members
  • Access to a new source of trade credit insurance
  • Enhanced policy wordings (100% indemnity and Basel III compliant)
  • Active Participation in and access to the insurer and reinsurers

Segregated Accounts Companies are established and regulated pursuant to the Bermuda Segregated Accounts Companies Act 2000 (the “SAC Act”) and the Insurance Act 1978.

For Additional information or an NBI on a transaction, contact one of the Svensk & Company Principals.