Marsh L.L.C. has acquired Aalst, Belgium-based trade credit insurer Trade Insure N.V., Marsh announced Wednesday.
Terms of the deal were not disclosed.
The combined entity will trade as Marsh Trade Insure and serve clients through Marsh’s Benelux offices in Antwerp, Brussels, Liege, Luxembourg and Roselare as well as Aalst.
“I am delighted to welcome the experienced team from Trade Insure to Marsh,” said Flavio Piccolomini, CEO of Marsh Continental Europe, in a statement.
“Trade Insure has developed a compelling credit insurance offering for both small and medium enterprises and multinational clients across Belgium. When combined with Marsh’s capabilities we will be able to offer them world-class services and solutions,” he added.
ACA, association of insurers based in Luxembourg, said claims worth a total of €5 million ($6.8 million) have been filed following the July 6 storm that hit the country, Luxemburger Wort reported.