Global specialty lines re/insurer Canopius has entered into a partnership with Anvil Underwriting Ltd, a managing general agent (MGA) specialising in credit and political risk.
The partnership, which is effective from 3 September, will allow Anvil to underwrite credit insurance, contract frustration, and political risks on behalf of Canopius.
The agreement will also allow Canopius to provide policy limits of up to $25 million and tenor of up to 10 years for contract frustration, as well as limits of $15 million and tenor of seven years for trade and non-trade credit risk.
Bernie de Haldevang, Head of Specialty at Canopius, said: “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,” he continued.
Navaid Farooq, Managing Director at Anvil, also commented: “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% of the risks for Anvil’s clients and be able to build a high quality book.”
Canopius has been steadily expanding its credit and political risk operations since de Haldevang was brought in to lead the specialty division in mid-2016, with underwriters Scott Morrison and Will Clark appointed soon after.
Since then, Canopius has seen the arrival of underwriters Claire Davenport, Daina Muceniece, Stephen Pike, Tim Watson and Tim Phillips, senior underwriter Yvonne McCormack and credit and political risk analyst Bruce Shepherd.
More recently, Rebecca Marsden also joined Canopius’ credit and political risk team from AXA Africa Specialty Risks, while Chubb’s Sean Redden became Underwriting Counsel to the division.
