Antares Global, the multinational group of insurance and related service companies, announced that Antares Syndicate 1274 has launched a consortium for the underwriting of credit and political risk insurance.
The maximum line for the consortium initially will be $40 million. Antares will lead with a 75% line with the remaining 25% provided by other Lloyd’s carriers. The consortium is already considering submissions.
“We are very pleased to have successfully launched and closed our first polices under the consortium,” commented James Thomas, class underwriter for the Antares political & financial risk team. “This new offering represents an excellent opportunity to leverage our underwriting expertise, particularly in the non-payment insurance space, and we very much look forward to supporting our clients and broking partners with our enhanced underwriting capabilities.”
“Credit and political risk is a highly technical class with high barriers to entry and this is a logical step, building on our market-leading position and established expertise in providing solutions to banks, export credit agencies, multilateral organisations and corporates,” said Jim Lye, active underwriter, Antares Managing Agency Ltd.
“I am extremely pleased to announce the launch of the consortium, which will bring much-needed certainty and significant capacity to our clients amid ongoing geopolitical instability and macroeconomic uncertainty,” Lye added.
Antares (formerly QIC Global) is the international operations of Qatar Insurance Group.
Topics New Markets
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