DUAL UK, the underwriting arm of Howden Group Holdings, has launched a new Credit Risk Insurance (CRI) solution aimed at helping clients manage the challenges associated with cross-border trade and investment.
As a specialist managing general agent within the insurance market, DUAL UK provides underwriting expertise across a range of products. Its latest CRI offering is designed to deliver long-term protection against the risk of non-payment or failure to meet contractual obligations, helping businesses mitigate potential financial losses tied to international transactions.
The product is expected to attract a diverse client base, including commercial banks, public sector bodies, and global trading companies seeking tailored risk transfer solutions.
Backed by an AA- rated syndicate at Lloyd’s of London under a one-year binder agreement, the facility enables DUAL UK to underwrite Contract Frustration risks for up to 15 years, as well as Credit Risk policies with tenors of up to eight years.
Simon McGinn, CEO, DUAL UK, commented: “This launch marks an important moment for DUAL and for the CRI market, coming at a time when brokers and their clients are navigating increasingly complex cross border risks. Financial institutions have a growing need for long-term certainty and protection as global trading relationships shift. By bringing a new AA- rated carrier into this class, we’re expanding the level of specialist support available to organisations operating in these challenging conditions.
“As an MGA, we combine deep specialist knowledge with the agility to move quickly and structure effective solutions. I’m delighted we’re able to offer this robust, carefully considered proposition for clients.”
David Lineham, Managing Director of Credit Risk, DUAL UK, added: “The launch of our new CRI product marks DUAL’s first entry into the CRI market at a time of significant geopolitical and economic re-alignment. As the world witnesses a shift from a unipolar to a multipolar order, with new alliances and evolving supply chain frameworks, demand for top-tier CRI continues to grow.”
