Intact takes majority stake in Cartan Trade

Cartan Trade  is deepening its relationship with Intact Insurance, which is set to become the majority shareholder as part of its European expansion strategy.

Effective May 1, Cartan Trade will serve as the underwriting platform for Intact’s trade credit insurance business across Europe, combining its underwriting and technology capabilities with Intact’s balance sheet and AA- rating.

The move formalizes an existing relationship, with Intact increasing its investment following an earlier undisclosed round, while SCOR remains a shareholder.

Founded in 2022, Cartan Trade focuses on trade credit insurance for corporates and financial institutions, offering digital underwriting and risk management tools. The company raised $6.4 million in 2022 and has since grown to a team of 35, reporting 6% growth over the past year. It works with over 70 broker partners, supporting around 450 companies across Europe.

The structure gives Intact a dedicated platform for trade credit in Europe, while positioning Cartan Trade to scale through additional capital and distribution.

Bottom Line: This is the first insurtech exit recorded this month.