ITFA NEW MEMBERS, November 2024

ITFA is pleased to welcome three institutions to its growing family:

Cultivar Insurance Ltd, a leading Managing General Agent (MGA) specializing in commercial and political trade credit risk insurance, surety, and financial guarantees across emerging markets, is pleased to announce its membership with the International Trade and Forfaiting Association (ITFA). Headquartered in the Dubai International Financial Center (DIFC) and regulated by the Dubai Financial Services Authority (DFSA) under License No. F009387, Cultivar joins ITFA with a commitment to foster growth in credit and political risk insurance for the Middle East, Asia Pacific, and other emerging economies.

With a focus on bridging the supply gap for Credit and Political Risk Insurance solutions, Cultivar collaborates with banks and financial institutions to offer capital relief products designed to enhance capital efficiency and risk management. This partnership with ITFA aligns with Cultivar’s mission to expand the availability and impact of insurance solutions that mitigate trade credit risks, fostering stability and growth for businesses in underdeveloped markets.

Hussein Khalil Deputy CEO and Chief Underwriting Officer at Cultivar Insurance Ltd, will act as the primary contact for ITFA matters. 

Mr. Khalil brings extensive expertise and dedication to advancing Cultivar’s goal of increasing market penetration for credit and political risk insurance solutions. He notes, “Cultivar Insurance Ltd aims to be a transformative player in the Credit Insurance Industry for emerging markets. Our membership in ITFA reflects our commitment to innovation and leadership, harnessing advanced technology, product expertise, and local knowledge to create robust, reliable insurance solutions.” Through its strategic initiatives, Cultivar aspires to be the “apple moment” for the Credit Insurance Industry in emerging markets, advancing access to essential risk mitigation tools and ultimately becoming a market maker. Cultivar’s membership in ITFA will further solidify its role in promoting sustainable trade finance solutions, strengthening resilience in emerging economies, and providing substantial capital relief products to banks across the Middle East and Asia Pacific regions.

About Cultivar Insurance Ltd
Cultivar Insurance Ltd is a DIFC-incorporated MGA with a paid capital of USD 2.5 million, specializing in the management of commercial and political trade credit risks, surety, and financial guarantees in emerging markets. Leveraging market-leading technology and extensive local knowledge, Cultivar partners with local cedents to address the supply gap in Credit and Political Risk Insurance. Cultivar is committed to delivering innovative capital relief products that help banks in the Middle East and Asia Pacific optimize capital allocation and manage risk effectively.

Mills & Reeve is a leading UK law firm that provides a wide range of legal services across various sectors, including healthcare, education, real estate, insurance and technology.

Senior Finance Knowledge Lawyer, Ms. Jacqueline Cook, will be the main contact for ITFA matters.

Jacqueline Cook stated that their expertise spans key legal sectors, covering finance and restructuring, employment, corporate law, tax, property, insurance disputes, intellectual property, health and safety, and more. The Finance and Restructuring team, twice nominated for Finance Team of the Year by the Financial Times, advises on asset-based lending, corporate lending, real estate finance, and debt capital markets. They manage complex domestic and international financing transactions, serving clients such as UK and international lenders, debt funds, and major corporates. The Asset-Based Lending team provides services across a range of receivables financing and lending products, including recourse financing, supply chain finance, and trade finance. Their clients include UK clearing banks, overseas financial institutions, independent lenders, and alternative credit providers.

Trade Technologies is a provider of trade finance automation, connectivity, and transaction management services.

The Company was founded in 1999 and so far has supported over 1,500 exporters with successful trade transactions. Trade Technologies’ innovative solutions, including TradeSharp™ and TradeBridge API, automate and digitize the creation, management, and delivery of data and documents (i.e. LC documents) between corporates and banks. With a global presence in 16 offices across Asia, EMEA, and North America, the company offers a blend of technology and expert services that optimize transaction processing, enhance cash flow, and provide end-to-end visibility. Clients benefit from faster, more reliable payments and reduced costs.

Key contacts at Trade Technologies for ITFA matters are Joicy Chakola, Global Head of Sales, Ken Kolchier, CTO and Alexander Paetzold, COO.

Interested in joining our growing institution? Please click here » Membership Benefits (itfa.org) for more information or send us an email on info@itfa.org.