Three underwriters have come onboard the trade credit team at business insurance specialist QBE European Operations.

Moving from QBE’s trade credit team in Sydney is James Robertson, who will now be in charge of developing new opportunities in London and the South-East in his capacity as new business commercial underwriter. Joining the Coface alumnus in London is John Lott, who brings extensive experience from previous trade credit roles to serve as risk underwriter.

Meanwhile Harry Bennion, who made the switch from JLT where he was a credit and political risk broker, has taken on the position of new business underwriter at the Birmingham office. Bennion will be responsible for looking after Midlands-based brokers and tapping prospects in the region.

“Lack of clarity on Brexit, greater levels of competition, and escalating costs are affecting businesses from multiple sectors, and the importance of trade credit insurance is more pronounced,” said Trevor Williams, head of credit and surety at QBE European Operations.

“Our new underwriters are bringing specialist experience to the team and will be integral to the further development of our portfolio and the delivery of enhanced levels of service to our customers at a time when they need it most. QBE is Brexit-ready and our industry experts are well placed to support our customers through these challenging times.”

In September the Association of British Insurers (ABI) reported that trade credit insurance payouts reached £92 million in the second quarter – the highest quarterly figure since the ABI began monitoring trade credit insurance data more than a decade ago.