The Bond & Credit Co.

What The Bond & Credit Co. does

The Bond & Credit Co. (BCC) is a Sydney-based private Australian bancassurance provider operating as a Corporate Authorised Representative of Tokio Marine & Nichido Fire Insurance Co. Ltd. The company offers Trade Credit Insurance products — Whole of Turnover Cover, Multi-Buyer Cover, Single Risk Cover, Specific Risk Policies, and a Master Risk Participation Agreement (MRPA) for banks — designed to protect Australian mid-market businesses (annual turnover above $2.5 million) against customer insolvency and late-payment risk on accounts receivable. A Surety Bonds product line was discontinued on 2 May 2023 by Tokio Marine Management Australasia; runoff servicing continues, and clients are referred onward for new bond needs. Underlying technology is a proprietary 24/7 online portal used by insurance advisors to upload client details, obtain quotes, track decisions, access policy documents and credit limits, and lodge/process claims, supplemented by an integration with illion Australia Pty Ltd for credit-bureau status checks and identity verification.

The business model is bancassurance-style commission economics: pricing is quote-based and tailored per client, billed annually, with risk and claims ultimately borne by Tokio Marine under its AFSL. Go-to-market is channel-led through insurance brokers and advisors, who are described in source material as 'key business partners' and supported with a single point of contact, quick credit-limit responses, and binding 3-month contracts for eligible clients. There is no public pricing, no disclosed policy count, and no published revenue. Operations are confined to Australia with headquarters at Level 17, 60 Margaret Street, Sydney; no international offices or global footprint claims exist.

The legal entity structure is the BCC Group: Bond and Credit Company Pty Ltd (ABN 71 609 018 840) as the primary entity, with wholly-owned subsidiaries BCC Trade Credit Pty Ltd (trade credit) and BCC Surety Pty Ltd (surety, now in runoff; previously known as NewSurety Pty Ltd). Senior leadership is small and specialised: Chris Blake (Head of Trade Credit, joined January 2019, ex-QBE and Euler Hermes/Allianz Trade), Andrew Kennedy (Head of Risk, joined May 2019, ex-ANZ and HSBC), plus claims and surety-runoff staff. The company reports 11-50 employees, no venture capital or public ownership, and operates entirely within the Tokio Marine Group's distribution structure.

Name

The Bond & Credit Co.

Legal name

Bond and Credit Company Pty Ltd

Website

https://tbcco.com.au

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

The Bond & Credit Co. is a Sydney-based bancassurance provider operating as a Corporate Authorised Representative of Tokio Marine & Nichido Fire Insurance Co. Ltd., offering trade credit insurance (Whole of Turnover, Multi-Buyer, Single Risk, Specific Risk, and bank MRPA products) to Australian mid-market businesses with $2.2M+ annual turnover through insurance broker/advisor channels.

Ownership category

akta.pro rank

Product category

Trade Credit Insurance

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Captive Insurance Advisory & Management (FSAEADAF)

akta.pro secondary industry

Credit & Surety Treaty Reinsurance (FSAOAEAI)

Keywords

• Trade credit insurance
• Surety bonds
• Bancassurance services
• Accounts receivable protection
• Credit risk management

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Trade Credit Insurance Products: The company operates as a Corporate Authorised Representative of Tokio Marine & Nichido Fire Insurance Co. Ltd., offering trade credit insurance products including Whole of Turnover cover, Multi-Buyer cover, Single Risk cover, and Specific Risk policies. Revenue is generated through insurance premiums underwritten by Tokio Marine.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

The Bond & Credit Co. is a boutique bancassurance provider that offers trade credit insurance products (Whole of Turnover, Multi-Buyer, Single Risk, and Specific Risk policies) to businesses with over $2.5 million annual turnover to protect their accounts receivable against customer insolvency and late payments. The company operates as a Corporate Authorised Representative of Tokio Marine & Nichido Fire Insurance Co. Ltd., underwriting policies on behalf of Tokio Marine and distributing through insurance brokers and advisors across Australia.

Product overview

The Bond & Credit Co. operates as a bancassurance provider offering two main product lines: Surety Bonds (now in runoff as of May 2023) and Trade Credit Insurance. The Surety Bonds product provides various bond types including Advance Payment, Bid, Maintenance, Performance, and Retention Release bonds. The Trade Credit Insurance suite includes Whole of Turnover Cover, Multi-Buyer Cover, Single Risk Cover, Specific Risk Policies, and a Master Risk Participation Agreement (MRPA) for banks. These products are designed to protect businesses' working capital and accounts receivable against insolvency and late payment risks. The company operates as part of the Tokio Marine Group and issues products as a Corporate Authorised Representative of Tokio Marine & Nichido Fire Insurance Co. Ltd.

Differentiator

Problem solved

Functional benefit

Products and services

• Whole of Turnover Cover

Quantifiable outcome

• Protection of accounts receivable (critical balance sheet component)

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core and supporting.

• Tokio Marine & Nichido Fire Insurance Co. Ltd.coreStrategic or Co-development PartnerTokio Marine & Nichido Fire Insurance Co. Ltd. (ABN 80 000 438 291, AFSL 246548) is the principal insurer. BCC Trade Credit Pty Ltd operates as a Corporate Authorised Representative of Tokio Marine. The Tokio Marine Group backing provides financial security for claims payments.
• illion Australia Pty LtdsupportingTechnology or Integrationillion is used as a credit reporting body for credit status checks and identity verification purposes in accordance with privacy requirements. The company leverages illion's extensive industry database for customer insights alongside its global perspective.
• Insurance Advisors/BrokerscoreChannel Partner/ Reseller/ DistributorInsurance advisors are key business partners for The Bond & Credit Co. The company offers dedicated support including one point of contact, quick credit limit responses, and 3-month binding contracts for eligible clients. A 24/7 online portal is available for advisors to manage client matters.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Atradius: Dutch-headquartered trade credit insurer with strong presence in Europe and Asia-Pacific. Competes directly with BCC on multi-buyer and whole-of-turnover products for Australian businesses with international receivables exposure.
• Coface: French-headquartered global trade credit insurer operating in more than 100 countries. Directly comparable product set (whole of turnover, multi-buyer, single risk) and similar mid-market focus, representing a primary competitor for Australian broker-distributed trade credit premiums.
• Euler Hermes (Allianz Trade): Global leader in trade credit insurance, the former employer of BCC's Head of Trade Credit Chris Blake (Commercial Director ANZ). Competes head-to-head with BCC for Australian mid-market trade credit accounts but with materially larger underwriting capacity and global reach.
• Credendo: European trade credit insurer with growing Asia-Pacific footprint. Offers similar product lines (whole turnover, single buyer, specific risk) and competes for the same broker-distributed commercial credit insurance accounts in Australia.

Broad incumbents

• Marsh: Global insurance brokerage and risk advisory firm with a substantial Australian presence. Competes for the same insurance advisor relationships and corporate clients seeking trade credit coverage, with much broader product reach.
• Aon: Global insurance broker that distributes trade credit insurance on behalf of multiple carriers. As a major broker in Australia, Aon sits both as a potential distribution partner and as a competing intermediary for the same broker relationships BCC targets.
• Tokio Marine HCC: Sister entity within the Tokio Marine Group offering specialty insurance including surety and credit-related products. Shares the same parent balance sheet and underwriting infrastructure that backs BCC's trade credit operations.
• QBE Insurance: Large Australian-listed P&C insurer and former employer of BCC's Head of Trade Credit. Provides a broader portfolio of commercial insurance including trade credit, with significantly larger scale and broker relationships across the region.

Regional players

• Vero Insurance (Suncorp): Australian commercial insurer offering trade credit and related coverages to mid-market businesses. Domestic-only focus similar to BCC and a credible competitor for Australian broker-distributed commercial credit insurance.
• Liberty Specialty Markets: Specialty P&C insurer with surety and credit-related capabilities operating in Australia through Liberty Mutual's network. Comparable regional scope and product overlap, particularly relevant given BCC's exit from the surety market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Bond & Credit Co.