PIB Insurance Brokers establishes Credit & Surety division

PIB Insurance Brokers is delighted to announce the formation of its specialist Credit & Surety division to deliver client-centric services in these specialist areas.

The division will provide solutions to UK businesses, global corporates, commodity traders and financial institutions, to strengthen and enhance receivables and encourage growth, with specific focus on UK exporters.

The team is headed by Richard Miller who has numerous years’ experience in the trade and structured credit market space dealing with SME’s, banks/financial institutions and global corporations.  Richard has structured appropriate policy programmes & facilities to meet the business and banking/finance needs of a wide range of individual clients.  In addition, he also worked in partnership with banks to create solutions for their insurance needs, in respect of client financing facilities, as well as their own internal requirements.

Richard is joined by Iain Gunn who has over 30 years’ experience in the Trade Credit, Political Risk and Surety broking markets covering clients ranging from global corporate’s and financial institutions to SME’s.  He has also been a purchaser of Credit Insurance within trade and invoice finance, utilising it as risk mitigation, and has worked with underwriters to develop Basel III compliant wordings.

Commenting on the appointments, Brendan McManus, CEO of PIB Insurance Brokers remarked: “PIB is an established and growing broker with high quality expertise in various sectors.  Credit & Surety are two such sectors where our quality and depth of service enhance the solutions we provide to benefit our client to the fullest extent.  I am delighted to welcome Richard and Iain to PIB to grow and develop this important product offering.”