Markel Taps Veteran Phil Amlot to Lead Global Trade Credit Division

LONDON – February 10, 2026 – In a move signaling a strategic reinforcement of its specialty insurance capabilities, Markel Insurance has promoted 16-year company veteran Phil Amlot to Head of Trade Credit for Markel International. The appointment, effective immediately, places a seasoned leader at the helm of a critical division as businesses worldwide grapple with unprecedented economic and geopolitical volatility.

Amlot will now be responsible for steering the long-term strategy and profitable growth of Markel's international trade credit operations. Reporting to Carl Titterton, Divisional Managing Director for Trade Credit, Political Risk and Surety, his role is pivotal as the company aims to enhance its global reputation and support clients through an increasingly treacherous landscape for global trade.

A Strategic Move in a Turbulent Market

Amlot’s promotion comes at a time when the trade credit insurance industry has never been more essential. The global market, valued at nearly $14 billion in 2024, is projected to surge to over $33 billion by 2033, driven by a surge in demand for risk mitigation. This growth is a direct response to a "dynamic environment," as described by Markel executives, shaped by persistent geopolitical tensions, fractured supply chains, and unpredictable economic conditions.

Businesses are increasingly turning to trade credit insurance to shield themselves from the risk of non-payment by their customers, a threat magnified by rising corporate insolvencies. In the US alone, business bankruptcies saw a 23.5% increase in 2025 over the previous year. This climate of uncertainty has created a record demand for the kind of protection Markel provides. The role of insurers is expanding beyond simple non-payment coverage to address broader supply chain vulnerabilities, including disruptions caused by cyberattacks, natural disasters, or political upheaval. Amlot is tasked with navigating these challenges, driving innovative underwriting solutions that can offer businesses the confidence to trade and grow.

"Today's dynamic environment – shaped by evolving geopolitical landscapes, shifting supply chains, and changing economic conditions – presents significant opportunities for businesses that are well-supported and well-informed," commented Carl Titterton. "The credit insurance industry's role has never been more valuable, and we're committed to providing the insight, capacity and long-term partnership that enables businesses to seize opportunities and achieve sustained success."

A Career Built on Growth and Leadership

Amlot's appointment is a clear example of Markel's philosophy of cultivating talent from within. With over three decades of experience in the London insurance market, his 16-year journey at Markel is a story of progressive responsibility and significant achievement. He joined the company in 2010 as a senior underwriter and quickly distinguished himself.

A pivotal moment in his career came in 2014 when he was tasked with establishing Markel's US Trade Credit operation. Relocating from London to New York, he built the division from the ground up, a move that was instrumental in expanding the company's footprint in the Americas. His success in that role led to his promotion in 2020 to Head of Underwriting for Trade Credit, where he focused on driving profitable growth and elevating the division's market profile.

Titterton praised Amlot's contributions, stating, "Over his 16 years with us, Phil has embodied Markel's people-first approach as both a leader and mentor, building strong relationships across the team. His deep expertise and vision will be instrumental as we continue to develop our global capabilities to deliver even greater value to our clients and broker partners."

In his new role, Amlot will lead teams based in key global hubs, including London, the US, and Asia. He acknowledges the weight of this responsibility and the strength of the team he inherits. "After 16 years at Markel, I have a deep appreciation for the expertise within our team and look forward to leading them as we navigate the evolving global trade landscape," Amlot stated. "Our strength lies in our disciplined underwriting and our commitment to understanding our clients' risks and delivering solutions that support their growth, even in uncertain conditions."

Competing in a Concentrated Market

While Markel is a significant force in specialty insurance, its trade credit division operates in a highly competitive and concentrated market. The industry is dominated by three European giants—Allianz Trade, Atradius, and Coface—which collectively control over 70% of the global market share. These leaders leverage vast data networks, sophisticated AI-driven risk analysis, and extensive global footprints to maintain their dominance.

Allianz Trade, the market leader with a 32% share, processes thousands of credit decisions daily and monitors nearly 300 million companies worldwide. Atradius and Coface similarly lean on technology and vast data pools to offer customizable policies and real-time risk insights. In this environment, niche insurers like Markel, Chubb, and AIG must differentiate themselves through specialized expertise, superior service, and strong relationships.

Amlot’s leadership is central to Markel's strategy to thrive in this landscape. His focus on "solution-led underwriting" and supporting global broker partners is designed to solidify Markel's position as a go-to insurer for complex and specialized risks. By combining deep underwriting discipline with a client-centric approach, Markel aims to offer a level of partnership that larger, more commoditized players may not be able to match. Amlot's proven ability to build and grow operations, particularly in the competitive US market, will be crucial as he works to elevate Markel's international profile.

Fortifying Global Capabilities for Future Growth

The promotion of Phil Amlot is more than a personnel change; it is a clear statement of Markel's global ambitions in the trade credit sector. His mandate extends beyond managing risk to actively developing the division's global capabilities and strengthening partnerships that are vital for sustained success.

A key part of his role will be to ensure that Markel’s teams in London, the US, and Asia work cohesively to deliver a seamless global service while retaining the local expertise that clients and brokers value. This involves fostering a culture of innovation within the underwriting teams to create products that are responsive to the fast-changing risk environment. By empowering his teams and leveraging Markel's "people-first" culture, Amlot is positioned to enhance the division's reputation and capacity.

As Titterton noted, "With his exceptional strategic leadership and management... I'm confident his appointment places Markel Trade Credit in an excellent position to deliver continued success." In a world where supply chains are fragile and economic certainties are few, the stability and expertise offered by seasoned leaders and their dedicated teams become an invaluable asset for businesses seeking to navigate the path to growth.