California-based Trade Finance and Insurance Firm with International Reach Honored by EXIM for Fourth Time as Broker of the Year
FOR IMMEDIATE RELEASE: September 22, 2021
WASHINGTON –Today the Export-Import Bank of the United States (EXIM) again recognized Meridian Finance Group(link is external), headquartered in Los Angeles, California, as EXIM’s 2021 Broker of the Year. Meridian also received EXIM’s Broker award in 2000, 2003, and 2013—making this broker the second four-time award winner. The award was presented today during EXIM’s 2021 Annual Conference being held virtually September 21-23.
“EXIM appreciates our extensive collaboration with Meridian Finance Group over our many productive years collaborating on behalf of America’s exporters and workers. We look forward to the future as we continue working to ensure the success of U.S. exports—especially from small businesses—to markets across the globe while providing support for American jobs at home,” said EXIM Broker Account Manager Ursula Wegrzynowicz, who presented the award.
“While most of Meridian’s business is underwritten by insurance companies in the private sector, we broker EXIM Bank policies for hundreds of exporters who would not find the credit insurance they need anywhere else,” said Meridian President Gary Mendell. “We value our partnership with EXIM and are proud of the work we do together to support U.S. exports. Exporting represents a key component of our nation’s economic recovery, so we need to keep reaching out and help even more U.S. exporters begin taking advantage of EXIM programs.”
Meridian Finance Group specializes in trade credit insurance, with representatives in locations across the United States as well as—with its parent company Texel Finance—offices in London, Brussels, and Singapore. An EXIM-registered broker for many years, Meridian is one of EXIM’s 19 platinum-tier brokers and has been one of EXIM’s top three producers by authorization count and authorization amount.
In FY 2020, Meridian produced 235 authorizations—the second-highest number among all brokers. Of these authorizations, 93 percent for small businesses. Of new EXIM policies, Meridian produced the second-highest number and the fourth-highest authorization amount.
Meridian has been a strong supporter of EXIM’s ongoing efforts to improve and expand the agency’s products and services to customers, including serving on the 2020-2021 EXIM Chairman’s Council on China Competition and EXIM’s inaugural Broker Advisory Council.
Established in 1993, Meridian Finance Group was organized to help equipment manufacturers increase their export sales, primarily by arranging cross-border financing for their customers in emerging foreign markets. The firm’s activities soon expanded to include short-term trade credit, leading Meridian to enter the business of brokering trade credit insurance. Over the past 28 years Meridian has helped hundreds of companies nationwide to protect their receivables against nonpayment risks, expand their U.S. and international sales, and arrange financing using trade credit insurance. The Meridian team also still arranges cross-border financing.
Acquired by The Texel Group(link is external) in 2017, Meridian works with every insurer in the credit insurance market worldwide. Beyond negotiating effective terms and conditions for policyholders, Meridian provides comprehensive support for every policy they sell, including in the event of claims.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.