Credit insurer Atradius Cyc and Toronto-based Red Rock Insurance Services have announced a partnership, with the goal of expanding the companies’ North American reach and improving their broker and client services.
In a joint statement, the firms said that the arrangement would help them to expand their competitive advantages and offer a higher capacity level and risk tolerance “driven by local expertise and existing scale, increased flexibility on wording considerations, [and] a potential hybrid product offering.”
“This is a tremendous opportunity for Red Rock Insurance Services to be aligned with one of the premier global trade credit insurance providers committed to growing their market share in North America while allowing us to maintain our entrepreneurial identity,” said Peter Graham, president of Red Rock Insurance. “We are excited by what we believe we can achieve together.”
“This strategic partnership provides a welcome addition to Atradius’ suite of product offerings,” added Chris Short, country manager for Canada at Atradius. “This unique and dynamic agreement will utilize the strengths of each organization to provide exceptional service to new and existing brokers and clients.”