London: Apollo, the innovation inspired insurance platform, today announces that it has received “in principle” approval from Lloyd’s to establish a new trade credit syndicate in partnership with Coface, one of the global leading players in trade credit risk management.
The syndicate, which is expected to commence underwriting during 2025, further expands Apollo’s platform partner offering following the establishment of three new syndicates in 2024. This latest syndicate partnership enables Coface to offer AA rated short term credit solutions to a global client base, while bringing profitable new business and deep expertise to the market.
David Ibeson, Apollo Group CEO, said: “We are delighted to be the chosen Lloyd’s managing agency partner of Coface, a respected market leader in short term trade credit insurance. The combination of Coface’s trade credit expertise and Apollo’s successful track record of delivering innovative solutions at Lloyd’s is incredibly exciting for the Lloyd’s market.”
Xavier Durand, Coface’s Chief Executive Officer, commented: “The creation of syndicate 2546 represents an important step for Coface. This project reflects our determination to improve the support to our customers by offering them a broader range of solutions. We see growth potential for credit insurance at Lloyd’s. This new structure is perfectly in line with the objectives of our Power The Core strategic plan, which aims to strengthen and extend our core expertise in credit insurance. It also supports our ambition to develop a global ecosystem of reference for credit risk management.”
Coface were supported by Amwins Global Risks to lead their Lloyd’s Coverholder approvals. Lindsey Davies, Director of Operations, said: “We’re delighted to be partnering with Coface and Apollo, and bringing our market leading Delegated expertise on this project. The level of collaboration and problem-solving has been outstanding and we look forward to working with them both in the longer term as they build out their Lloyd’s offering.”
The launch was supported and advised by Lloyd’s broker, Gallagher Re, 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.”
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MEDIA ENQUIRIES
Haggie Partners
Peter Rigby, Caroline Klein, Bec Seaton, Cressida Tarver
Email: Apollo@haggiepartners.com
Tel: + 44 20 7562 4444
ABOUT APOLLO
Apollo is an innovation inspired insurance platform offering data-driven and creative solutions to a wide variety of risks.
We provide high quality products and services to clients, brokers, and capital partners at Lloyd’s, enabling a resilient and sustainable world.
We offer insurance products across Property, Casualty, Marine, Energy & Transportation, Specialty, Reinsurance, as well as Smart Follow and digital & embedded risk programmes. Our expertise and unique Apollo ecosystem give our Platform Partners the best chance of success through the Lloyd’s new entrant process to the delivery of their long-term strategy.
We invest in true partnership and innovation driven experiences unlike anyone else.