Coface, the Paris-based trade credit risk management
specialist, announced it has received an “in principle approval” from Lloyd’s to launch a short-term trade credit syndicate.
The syndicate – Coface Lloyd’s Syndicate 2546 – is expected to commence underwriting in 2025 and will be man
aged by London-headquartered Apollo Syndicate Management, which provides bespoke third-party managing agency services.
The syndicate will enable the group to provide AA- rated solutions to better serve the needs of selected segme
nts of the market, while providing significant profitable growth potential for Coface, the company indicated.
“The creation of Syndicate 2546 represents an important step for Coface. This project reflects our determinatio
n to improve the support to our customers by offering them a broader range of solutions,” according to Xavier Du
rand, Coface’s chief executive officer. “We see growth potential for credit insurance at Lloyd’s.”
David Ibeson, Apollo Group CEO, said: “We are delighted to be the chosen Lloyd’s managing agency partne
r of Coface, a respected market leader in short term trade credit insurance. The combination of Coface’s trade credit ex
pertise and Apollo’s successful track record of delivering innovative solutions at Lloyd’s is incredibly exciting for the Lloyd’s market.”
See more beautiful photo albums Here >>>
The launch was supported and advised by Lloyd’s broker, Gallagher R
e, whose UK CEO Ian Kerton commented: “Gallagher Re is delighted to have helped Coface gain in principle approval for a new syndicate at Lloyd’s. We are also
proud to have continued supporting Lloyd’s as the premier marketplace for providing innovative insurance coverage.”