Credeq Syndicate 1998 Gets The Green Light

The latest update on Lloyd’s Syndicates for you; 

Lloyd’s has granted in-principle approval for the establishment of Credeq Syndicate 1998, marking a significant step in the leading credit insurance provider’s global growth strategy. 

Subject to completion of the remaining implementation requirements and final Permission to Underwrite, Credeq Syndicate 1998 is expected to commence underwriting from ​​1 January 2027.

The syndicate’s underwriting plan will focus on credit risk insurance, alongside surety reinsurance and speciality European trade credit. It will provide additional, strategically aligned capacity to support Credeq’s existing credit risk business and facilitate new growth opportunities, complementing its existing ​​capacity partnerships.

Credeq will act as coverholder for the syndicate, bringing its specialist credit underwriting expertise and global origination network to the Lloyd’s market. Asta Managing Agency has been appointed as managing agent for Credeq Syndicate 1998. Marsh Capital & Advisory advised on the syndicate formation.

By combining Credeq’s specialist credit underwriting expertise with Lloyd’s global reach and financial security framework, the syndicate will position Credeq with 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, 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.”