#None #Atradius #Lloyd's #Trade Credit

Lloyd's Grants 'In Principle' Approval for Atradius Syndicate 1864

In a significant development for the trade credit insurance market, Atradius has announced that Lloyd's has granted 'in principle' approval for the formation of Atradius Syndicate 1864. This new syndicate is set to focus on trade credit risks and specifically aims to cater to both new and existing clients within the European financial sector. The official underwriting start date for Atradius Syndicate 1864 is slated for January 1, 2026.

This move is part of Atradius's broader strategy to enhance its operational capabilities, as the company already provides trade credit insurance, surety, and collection services across more than 50 countries worldwide. With a vast database of credit information on 200 million companies, Atradius's products are designed to help businesses mitigate payment risks associated with extended credit on sales of goods and services.

Support for this new venture has been provided by PoloWorks and Aon Capital Advisory, who assisted Atradius throughout the application process. Both organizations will continue their involvement as the syndicate seeks to obtain final permission from Lloyd's to commence underwriting operations.

One of the key advantages of operating under the Lloyd's platform is the array of opportunities it presents to Atradius's customers. This includes access to Lloyd's renowned financial strength rating and a vast array of licenses and resources, which are vital for effectively managing trade risks and enabling growth in client acquisition. Additionally, the regulatory framework provided by Lloyd's aligns with Atradius's own high compliance standards, reinforcing operational efficiency.

David Capdevila, the CEO of Atradius, expressed enthusiasm about the collaboration, stating, "Our specialized expertise in trade credit risks presents a compelling opportunity to work alongside Lloyd's. By leveraging their innovative underwriting platform, we can provide exceptional value to our clients and partners. We are excited about our collaboration with Polo and the entire Lloyd's team in establishing a strong presence in the Lloyd's market."

Echoing this sentiment, Paul Andrews, CEO of Polo Managing Agency, highlighted the importance of introducing further capacity to the trade credit market via this new syndicate. He remarked, "In a fast-paced and innovative sector, PoloWorks is proud to support the launch of the Atradius syndicate at Lloyd's, further enhancing the market's capacity."

Moreover, Mike Cane, who heads Capital Advisory for Aon Reinsurance Solutions, emphasized that the approval signifies a notable advancement within the trade credit insurance landscape. He noted, "Aon Capital Advisory is delighted to have played a role in supporting Atradius in this venture. We are confident that Syndicate 1864 will become an integral part of Atradius and will be instrumental in achieving favorable outcomes for their clients."

Atradius itself boasts a global presence and has established itself as a prominent player in the credit insurance market. As a member of the Global Credit Insurance (GCO) group, Atradius delivers comprehensive risk management solutions which cater to various industries while protecting companies from the potential risks associated with selling goods and services on credit.

For those seeking to learn more about Atradius, detailed information can be accessed online via the company's official website. The capabilities and services provided by Atradius are particularly relevant to businesses that seek to navigate the complexities of trade credit and default risk. As the launch date for Syndicate 1864 approaches, many stakeholders will be closely monitoring the new offerings and services that promise to emerge from this exciting partnership.