Great American Insurance Company Joins LiquidX Network, Completes First Insurance Transaction with Highmore Capital
22 11월 2019 - 1:14AM
LiquidX, the global network for illiquid assets, today announced
Great American and its subsidiary FCIA Management Company, Inc.
(“FCIA”) have joined the LiquidX network as the third insurer on
the trade credit insurance marketplace. Great American issued
its first policy to Highmore Capital, a global alternative asset
management firm. The insurance transaction involved
underlying assets that Highmore purchased on the LiquidX accounts
receivable marketplace and subsequently insured with Great American
via the trade credit insurance marketplace. These are 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.”
The LiquidX trade credit insurance marketplace is the first
electronic platform to provide direct access to a collection of the
leading insurers in the world. Since launching in early 2019,
the platform has facilitated insurance on over $1B of assets across
1,000+ credits.
About LiquidX
Through its leading technology and diverse network of global
participants including major corporations, banks, institutional
investors, and insurance providers, LiquidX provides an efficient
and flexible platform for participants to transact across the trade
finance, working capital and trade credit insurance asset classes
in one place. LiquidX has executed over $24B of trade volume
since 2016. For more information about LiquidX, please visit
www.liquidx.com.
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the
founding of its flagship company, Great American Insurance Company.
Based in Cincinnati, Ohio, the operations of Great American
Insurance Group are engaged primarily in property and casualty
insurance, focusing on specialty commercial products for
businesses, and in the sale of traditional fixed, fixed-indexed and
variable-indexed annuities in the retail, financial institutions,
broker-dealer, registered investment advisor and education markets.
Great American Insurance Company has received an “A” (Excellent) or
higher rating from the A.M. Best Company for more than 100 years
(most recent rating evaluation of “A+” (Superior) affirmed
September 11, 2019). The members of Great American Insurance Group
are subsidiaries of American Financial Group, Inc. (AFG), also
based in Cincinnati, Ohio. AFG’s common stock is listed and traded
on the New York Stock Exchange under the symbol AFG.
Coverage is subject to underwriting and to the terms and
conditions of the policy. Great American Insurance Company, 301 E.
Fourth St., Cincinnati, OH 45202.
Contact:
Brad Tabor, +1 347-859-8068btabor@liquidx.com
American Financial (NYSE:AFG)
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American Financial (NYSE:AFG)
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