Texel Completes Acquisition of Meridian Finance Group
AUG 12, 2020 - 7:20 am
The Texel Group completed its acquisition of Meridian Finance Group by purchasing the remaining 50% of Meridian’s shares to bring together a global credit and political risk insurance brokerage. Texel acquired a 50% interest in Meridian in 2017.
Meridian specializes in brokering trade credit insurance, as well as arranging export financing for cross-border transactions. In business since 1993, the Meridian team will continue to operate from its headquarters in Los Angeles and other offices nationwide under the leadership of Gary Mendell, founder and president of Meridian Finance Group.
Meridian’s specialty lines team in New York will begin to transact as Texel Americas and will be led by Ben Roberts, president, who previously gained experience with Texel in the London market. Texel Americas brokers credit and political risk insurance for commercial and investment banks, developmental financial institutions and commodity traders, and multinational corporations.
Texel is a privately-owned and independent Lloyd’s insurance broker, with offices in London, Brussels, Singapore and the U.S., specializing in the fields of credit and political risk insurance. The firm was founded in 1997 to deliver solutions that mitigate its clients’ exposures to payment, project and political risks.
“We’re delighted to welcome Meridian fully into the Texel family,” Andy Lennard, chairman of the Texel Group, said. “Our team is now truly global, providing our clients with the ability to place insurance anywhere in the world. We’re extremely excited with this expansion and look forward to integrating Meridian into the Texel Group and growing our presence in the Americas.”
“The Meridian team and I are thrilled to join forces with Texel, one of the most accomplished credit and political risk insurance brokers in the world,” Mendell said. “Working with our Texel colleagues, we’ll be able to provide our clients with the broadest coverage options and the most comprehensive customer service in the market.”
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