Navitas Assurance Partners Launches, Providing Alternative Energy Assurance Solutions
New managing general underwriter blending investment grade trade credit and commercial surety providers with energy expertise to service the alternative assurance markets
HOUSTON–(BUSINESS WIRE)–#AlternativeEnergyAssurance—Navitas Assurance Partners today announced its formation as a managing general underwriter to provide alternative energy assurance solutions through investment grade trade credit and commercial surety providers. The use of trade credit insurance and commercial surety as alternative assurance for energy commodity is fast growing; providing off-balance-sheet, easily integrated, higher quality credit and commercial assurance tools specifically designed for North American energy market participants.
“We are working to change the paradigm for alternative assurance,” says Jay Rose, founder and Managing Director of Navitas Assurance Partners. “Our team is here to provide the resources necessary to meet the market demand and advance utilization of insurance balance sheets as alternative forms of assurance. We are working diligently with our credit insurance and surety broker partners to ensure Navitas resources are widely available to the market.”
Prior to the formation of Navitas, Rose worked with a global provider of trade credit for more than 16 years in various roles. In 2015, Rose launched the first dedicated industry vertical practice in the trade credit community. Under his management, the practice attained a market-leading position and spearheaded the acceptance of demand bonds and fronting solutions to provide letter of credit equivalent instruments for energy commodity.
Navitas alternative energy assurance solutions will be available to a breadth of end-users across the energy spectrum, including producers, marketers, pipelines, power, processors, refiners, and renewables.
The Navitas team has more than 120 years of combined energy industry and insurance underwriting experience, and will focus on the delivery of solutions that add liquidity, expand counterparty optionality, simplify assurance policy compliance, and unlock opportunity.
About Navitas Assurance Partners
Navitas Assurance Partners is a managing general underwriter (MGU) representing some of the strongest balance sheets in North America. Created for an evolving market and tapping into more than 100 years of operational development and risk management experience from the energy and insurance industries, Navitas is built for today’s changing marketplace. Navitas acts as the leading conduit among the energy markets, their broker-partners, and carrier-partners—specializing in the energy assurance markets and offering a new approach that brings additional capacity, unrivaled speed, and exceptional broker support. To learn more, visit www.navitasassurance.com or contact us via info@navitasassurance.com.
Contacts
Patrick McKinnon
Navitas Assurance Partners
(832) 606-9319
