Antares Syndicate 1274 has formed a consortium to underwrite credit and political risk insurance.
Antares Syndicate 1274, a (re)insurance subsidiary in the Lloyd’s market of Antares Global, will use the credit risk expertise and analytical capabilities of Antares’ political and financial risk team for the newly established entity.
The consortium will initially offer a maximum line of US$40 million, led by Antares with a 75 per cent share and the remaining 25 per cent supported by other Lloyd’s carriers.
James Thomas, class underwriter for the Antares political and financial risk team, comments: “This new offering represents an opportunity to leverage our underwriting expertise, particularly in the non-payment insurance space.
“We look forward to supporting our clients and broking partners with our underwriting capabilities.”
Jim Lye, active underwriter at Antares Managing Agency, says: “Credit and political risk is a highly technical class with high barriers to entry.
“[The new consortium] is built on our market position and established expertise in providing solutions to banks, export credit agencies, multilateral organisations and corporates.”
