Antares Syndicate 1274, a part of QIC’s Antares World and a reinsurance participant within the Lloyd’s market, has introduced the formation of a brand new consortium.
The brand new consortium is targeted on underwriting credit score and political threat insurance coverage.
It leverages Antares’ experience in political and monetary threat evaluation and is now actively reviewing submissions.
The consortium’s preliminary capability is ready at $40m, with Antares contributing a 75% share and the remainder supported by different Lloyd’s market individuals.
Antares political & monetary threat group class underwriter James Thomas stated: “We’re more than happy to have efficiently launched and closed our first polices beneath the consortium.
“This new providing represents a superb alternative to leverage our underwriting experience, notably within the non-payment insurance coverage house, and we very a lot stay up for supporting our purchasers and broking companions with our enhanced underwriting capabilities.”
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Antares Managing Company energetic underwriter Jim Lye stated: “Credit score and political threat is a extremely technical class with excessive boundaries to entry and it is a logical step, constructing on our market-leading place and established experience in offering options to banks, export credit score companies, multilateral organisations and corporates.
“I’m extraordinarily happy to announce the launch of the consortium, which is able to deliver much-needed certainty and vital capability to our purchasers amid ongoing geopolitical instability and macroeconomic uncertainty.”
The launch follows Antares World’s appointment of Kevin Wenzel as chief monetary officer (CFO) in January this yr.
Reporting to Antares World CEO Mike van der Straaten, Wenzel brings greater than three many years of monetary experience to the group.
His background features a tenure at Allianz, the place he latterly was deputy CFO of Allianz Holdings within the UK.
