📰 Curated Industry Article
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Lloyd’s has granted in-principle approval for the establishment of Credeq Syndicate 1998, marking a significant step in Credeq’s global growth strategy.
Headquartered in London, Credeq is a global specialist credit risk insurance provider, with expertise spanning Guarantees & Surety, Trade Credit, Credit Risk Insurance and AI Risk. It operates across the UK, Europe, Africa, Australia and New Zealand.
Credeq Syndicate 1998 is expected to begin underwriting on 1 January 2027, subject to completion of the remaining implementation requirements and receipt of final Permission to Underwrite.
The syndicate’s underwriting plan will focus on credit risk insurance, as well as surety reinsurance and speciality European trade credit. It will provide additional, strategically aligned capacity to support Credeq’s existing credit risk business and create opportunities for further growth, complementing its existing capacity partnerships.
Credeq will act as coverholder for the syndicate, bringing its underwriting expertise and global origination network to the Lloyd’s market. Asta Managing Agency has been appointed as managing agent for Credeq Syndicate 1998, while Marsh Capital & Advisory advised on the syndicate’s formation.
Through the combination of Credeq’s specialist credit underwriting expertise with Lloyd’s global reach and financial security framework, it will provide Credeq greater flexibility to support clients and pursue opportunities across its international markets.
Martin McConnell, co-CEO and head of credit risk insurance at Credeq said, “Establishing our own specialist underwriting capacity within Lloyd’s is a major milestone for Credeq. It brings together our deep credit risk expertise and global origination capability with the unmatched financial strength and global reach of the world’s leading insurance marketplace.
“The syndicate gives us additional, strategically aligned capacity to support our clients and underwrite complex credit risks across our markets, while complementing the strong capacity partnerships we already have in place.
“It is an important next step in building Credeq’s global specialist credit business.”
Lorraine Harfitt, Chief Executive Officer of Asta added, “We are delighted to partner with Credeq as the business takes this important step towards entering the Lloyd’s market. Receiving in-principle approval from Lloyd’s for this unique proposition is testament to the strength of the partnership we have already built together, and we are excited to support the Credeq team as they launch and establishes their presence in the market.”
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[post_title_image]📰 Curated Industry Article This is a summary of a full article from a trusted insurance publication. Click "Read Full Article" below to read the complete story.Lloyd’s has granted in-principle approval…
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