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Performance update and announcement changes to the Cartan Trade Executive Committee
Paris, November 27, 2024 – Cartan Trade, the insurtech specializing in credit insurance, announces solid results for 2024 and unveils its strategy for the period 2025-2027, while adapting its Executive Committee.
2024 Performance
In line with its objectives, Cartan Trade’s results meet expectations in all its markets (France, UK, Benelux, Italy) both in terms of gross written premiums (GWP) and the claims/premiums ratio (Loss Ratio).
The company’s portfolio now includes nearly 300 clients, divided into 38% global policies, 34% Top up and 28% Single Risk, with a total commitment of €10 billion, reflecting the growing interest in its innovative solutions in a rapidly changing market.
2025-2027 Strategic Plan: The 3Ds
To accelerate its growth, Cartan Trade is focusing on three strategic axes:
Drive: Continue the sustainable growth of premiums and EBITDA while maintaining control of the Loss Ratio and developing the quality of services.
Disrupt: Accelerate investments in new technologies and data to enrich underwriting and risk monitoring, while focusing on innovative partnerships, in particular to address the SMEs needs.
Develop: Attract and integrate diverse talents to support its growth model and promote credit insurance as an attractive and innovative sector.
Changes within the Executive Committee
To support this strategy, Cartan Trade announces a new organization on of its Executive Committee:
◆ Christophe Pennellier (Director of Risks, Claim and Collection) strengthens his role in managing coverage and relations with capacity providers (insurers and reinsurers).
◆ Islam Madani (CTO) and Julien Madec (CFO), who recently joined the team, will lead innovation and operational excellence projects.
◆ Anne Smadja (Director France), Matthew Wells (Director UK, Ireland and Benelux), and Paolo Cioni (Director Italy) also join the Executive Committee. After successfully developing their markets, they, will play a key role in the growth and consolidation of Cartan Trade in Europe.
◆ Finally, Alice de Brem, Sales, Distribution and Marketing Director, will leave the company to take on new challenges after having contributed significantly to its success.
These changes, which are effective immediately, aim to support the growth of Cartan Trade while strengthening its position as a key player in the market.
A renewed commitment to our partners
After nearly 3 years, Cartan Trade reaffirms its commitment to its partners and customers, with a solid and optimized organization to meet the needs of the market and offer ever more adapted and innovative solutions.
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About Cartan Trade:
Created at the end of 2021, Cartan Trade, the new insurtech specializing in trade credit insurance, was born from a strong conviction: to democratize credit insurance among companies, most often uninsured, by offering solutions combining traditional and more modern solutions.
With the support of recognized financial partners, SV One SAS (SCOR Group’s venture fund), Bpifrance, through its Large Venture fund, Quattro Holding (an investment holding company bringing together several qualified credit insurance personalities in Europe) and Intact Financial Corporation, one of the leading providers of specialized insurance in the world, Cartan Trade is an entrepreneurial, collective and sustainable project.
After its launch in France in January 2022, Cartan Trade has grown very quickly with the opening of new locations in Benelux (November 2022), Italy (December 2022), and the United Kingdom in February 2023.
Partner of more than 70 brokers, Cartan Trade supports nearly 300 companies of all sizes in Europe, generating their turnover in France or internationally, with a complete range of fully digitalized solutions.
Find out more about Cartan Trade here