Canopius has signed an underwriting partnership with credit and political risk managing general agent (MGA) Anvil Underwriting, effective from 3 September.
Anvil will underwrite credit insurance, contract frustration and political risks on behalf of Canopius.
The partnership enables Canopius to provide policy limits of up to US$25mn and tenor of up to ten years for contract frustration and up to US$15mn and tenor of maximum seven years for trade and non-trade credit risk.
Bernie de Haldevang, head of specialty at Canopius commented: “This agreement provides a great opportunity for Canopius and Anvil to provide a complementary means to access the credit and political risk market and will allow us to show a nuanced risk appetite. I am delighted that we now have this agreement up and running, and encouraged by the interest that Anvil has already been seeing across the market. The agreement is now in force and we look forward to providing the market with increased flexibility and underwriting expertise.”
Navaid Farooq, managing director at Anvil said: “Through this partnership with Canopius we can deliver cover for more credit and contract frustration risks as well as political risks, offering significant benefit to our clients. Through this arrangement Canopius will cover 100 percent of the risks for Anvil’s clients and be able to build a high quality book.”