UPDATE: Great American Insurance Company Joins LiquidX Network, Completes First Insurance Transaction with Highmore Group Advisors
-- Great American Insurance Company (“Great American”) is the third insurer that is actively writing trade credit insurance policies on the LiquidX Trade Credit Insurance Marketplace -- Their first policy on the LiquidX platform was written for Highmore Group Advisors, a global alternative asset management firm
NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- 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 Group Advisors, 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.
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.
Brad Tabor, +1 347-859-8068 firstname.lastname@example.org