Bondaval has appointed Alexia Parmentier (pictured) as co-chief underwriting officer, the company announced. The hire comes as rising corporate insolvencies and credit risk put fresh pressure on trade credit markets.

Parmentier, who is based in London, will work alongside Ewa Rose, the company’s group chief underwriting officer. Her brief covers underwriting discipline, risk governance, and market engagement as Bondaval grows its international footprint.

Parmentier spent nearly 14 years at Allianz Trade, where she co-founded the insurer’s excess-of-loss trade credit platform. That unit scaled into a 9-figure premium income business with more than 30 underwriters. She also held earlier roles at AIG, Aon, and Hermes Credit Services.

In her new role, she will work with capacity partners to optimise program structures and develop new initiatives with broking partners. She will also lay the risk groundwork for Bondaval’s commercial push across new geographies and product lines.

Tom Powell, CEO and co-founder of Bondaval, said the company sought someone with deep experience and the mindset of a builder. “We found that in Alexia, and we’re delighted to welcome her to the business,” Powell said.

Rose said she looked forward to working alongside the incoming co-CUO. “Alexia brings exceptional experience that will be a vital contributor to our global expansion,” Rose said.

Parmentier said the company’s culture and approach to the market drew her to the role. “I’m looking forward to partnering with Ewa to further develop and refine our underwriting strategy from its already strong foundations.”

Trade credit demand is rising

Bondaval, founded in 2020, provides trade credit insurance through a technology platform that integrates directly with corporate systems and is licensed across 34 countries.

Its underwriting capacity is rated S&P AA- and backed by a global partnership with Swiss Re Corporate Solutions, which took effect January 1, 2026. The platform gives credit managers real-time visibility of exposures and risks.

The hire arrives as demand for trade credit coverage grows. Marsh’s Trade Credit Report 2025 found 80% of manufacturing businesses said growth was harder in 2025 than in 2024. Credit risk was a key constraint, with around half of those firms monitoring counterparty ratings more closely.

Insolvencies rise as credit stress spreads

That demand is backed by hard data. UK company insolvencies reached 2,343 in May 2026, well above pre-pandemic norms. The UK trade credit insurance market generated approximately US$734.8 million in revenue in 2025, with a forecast compound annual growth rate of 11.7% through 2033.

The risk environment is also shifting in character. Intact Insurance’s Pablo Brando said middle-market firms are showing rising insolvencies and payment delays as geopolitical tensions, tariff uncertainty, and supply chain disruptions overlap.

Global business insolvencies rose 10% in 2024 and around 6% in 2025, with a further 6% increase forecast for 2026, according to Allianz Trade.

A string of senior hires

The Parmentier appointment is the latest in a series of senior hires at the firm. Simon Philpin joined as group chief commercial officer from Markel, where he served as director of trade credit. Ryan Wimberly and Daniel Hoyt both joined from Allianz Trade to build out the firm’s US commercial presence.

Bondaval also expanded into the DACH region this year. Anke Uebele, formerly of Allianz Trade, joined as head of trade credit. Christoph Dautenheimer, from Credendo, took on the role of head of commercial underwriting and development for the region.