With credit insurance partners since 1990, LTR Global as an independent specialized broker, combined with TCU's global insurance capacity in Bermuda, offers banks, factoring companies and investment funds innovative credit insurance solutions unavailable elsewhere in the region.
LTR Global and TCU have built an exclusive strategic alliance combining the regional depth of an independent broker with the underwriting capacity of a regulated structure in Bermuda.
An independent intermediary with no ties to any insurer, guaranteeing objective advisory services and exclusive client representation at every stage of the process.
A specialized insurer in commercial and financial credit risk, founded by former AIG, Allied World and LAU executives. Operates as a Segregated Accounts Company (SAC) in Bermuda, regulated by the BMA.
In credit insurance in Chile since 1995, as Manager of Continental Trade Credit Insurance (Atradius). In 2001 founded LTR Global, Latin America's first specialized broker, serving as President. TCU Partner since 2021.
In credit insurance since 1970. Former President of AIG Trade Credit and founder of Latin American Underwriters (LAU). Previously at OPIC (Washington DC). Global reference in ECPRI.
The LTR Global × TCU structure offers substantially superior technical and commercial terms across every dimension relevant to banks, factoring companies and investment funds.
| Dimension | Traditional Insurance | LTR Global × TCU ✓ |
|---|---|---|
| Structure | Standard Multibuyer policy, shared generic portfolio | Individual coverages and Top-Up · Reinsurance Rating (A) |
| Geographic Coverage | Domestic market or low-risk conventional exports | Global emerging markets · 40+ countries |
| Capacity | Limited by local balance sheet, subject to regulatory restrictions | Bermuda SAC + Global Reinsurance · no geographic restriction |
| Flexibility | Predefined conditions, limited adaptability to client needs | 100% bespoke policy · short and medium term up to 5 years |
| Speed | Weeks — no direct access to risk analysis team | Direct access to TCU underwriters · response within days |
| Claims | Insurer defends its own interests · complex and slow process | LTR Global actively advocates for the insured at every stage |
| Documents Covered | Commercial invoices · short term only | Promissory Notes · Invoices · Short & Medium Term |
Designed for banks, factoring companies, investment funds, lenders and commodity producers operating in emerging markets.
Credit asset coverage issued through a Segregated Accounts Company (SAC) in Bermuda, regulated by the BMA. Integrates commercial and financial risk under a single legal structure.
TCU establishes a personalized cell for the insured within weeks, using a Segregated Account or Incorporated Cell Company. Optimal for companies with large volumes seeking greater control and program efficiency.
Each debtor has individual coverage conditions: approved limit, maximum tenor, premium rate, waiting period and extension period. The structure allows coverages to be adapted and expanded transaction by transaction.
Comprehensive coverage for Trade Finance, Confirming and Supply Chain Finance operations. Protects Promissory Notes, instruments typically excluded by traditional credit insurance. Tenors from short to medium term (up to 5 years).
Tailored coverage solutions designed for unique exposures or non-standard structures. Bespoke coverages for specific industry, geography or financial instrument risks that do not fit conventional products.
Backed by TCU in Bermuda — rated (A) by AM Best, the world's leading insurance rating agency — and by LTR Global, with over 25 years of track record in the Latin American market. Our reputation is the most valuable asset we place at the service of every client.
Bermuda is not merely an offshore financial center — it is one of the most regulated, supervised and respected insurance and reinsurance centers in the world, with legislation that equals or surpasses the standards of London, Zurich or New York.
The Bermuda Monetary Authority (BMA) is the single integrated supervisor of the banking, insurance and capital markets sectors. Recognized by the IMF, OECD and FSB as a top-tier regulatory authority, the BMA applies standards equivalent to the EU's Solvency II — the world's most demanding framework for insurers.
In 2016, the European Union granted Bermuda Solvency II equivalent jurisdiction status — a distinction shared by only a handful of countries worldwide. This means Bermudian insurers operate under capital requirements, corporate governance and risk management frameworks identical to those required across Europe.
Bermuda is an active member of the International Association of Insurance Supervisors (IAIS) and fully implements its Insurance Core Principles (ICP). Bermudian insurers are subject to mandatory external audits, annual stress tests, quarterly solvency reports and world-class corporate governance requirements.
Bermuda is fully compliant with FATF standards on anti-money laundering and counter-terrorism financing. It has been favorably assessed by the IMF in multiple FSAP reviews and maintains information exchange agreements with over 100 jurisdictions through its network of TIEAs and DTCs.
Trade Credit Underwriters (TCU) is domiciled and regulated in Bermuda precisely because of the strength and credibility of its regulatory framework. An (A) rating from Bermuda carries the same weight as an (A) rating from London or New York — and is recognized by banks, investment funds and financial institutions worldwide as a guarantee of solvency and compliance.
Complementing our Bermuda structure, LTR Global × TCU has recently established an insurance structure in Vermont, USA — one of the most sophisticated and regulated captive insurance domiciles in the world — specifically designed to meet the needs of American financial institutions and banks with US operations.
Vermont is recognized as the number one captive domicile in the United States, with over 1,000 active captive companies and a world-class regulatory framework overseen by the Vermont Department of Financial Regulation (DFR). This regulatory strength makes Vermont ideal for risk mitigation structures recognized by major banking supervisory bodies — including the Fed, the OCC and the FDIC.
Through this structure, banks can transfer selected credit exposures to a regulated insurance entity in Vermont, achieving favorable treatment under Basel III/IV and Federal Reserve capital standards — reducing Risk-Weighted Assets (RWA) and freeing up regulatory capital for new lending and investment activities.
We offer a complimentary initial technical consultation to analyze your portfolio and determine the most suitable credit insurance solution.