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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 concentrated on underwriting credit score and political danger insurance coverage.
It leverages Antares’ experience in political and monetary danger evaluation and is now actively reviewing submissions.
The consortium’s preliminary capability is about at $40m, with Antares contributing a 75% share and the remainder supported by different Lloyd’s market contributors.
Antares political & monetary danger staff class underwriter James Thomas stated: “We’re very happy to have efficiently launched and closed our first polices underneath the consortium.
“This new providing represents a superb alternative to leverage our underwriting experience, significantly within the non-payment insurance coverage area, and we very a lot sit up for supporting our purchasers and broking companions with our enhanced underwriting capabilities.”
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Antares Managing Company lively underwriter Jim Lye stated: “Credit score and political danger is a extremely technical class with excessive limitations 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 can carry 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 12 months.
Reporting to Antares World CEO Mike van der Straaten, Wenzel brings greater than three many years of monetary experience to the staff.
His background features a tenure at Allianz, the place he latterly was deputy CFO of Allianz Holdings within the UK.
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