The Credit & Political Risks Insurance market is seeing a broadening of risk appetite, new entrants and the return of face-to-face meetings.
Market appetite and capacity
Whilst we continue to see insurers adopting a conservative risk appetite in certain sectors, confidence has certainly returned to the market.
Insurers continue to diversify their exposure through increased interest in sectors such as solar and wind projects, infrastructure finance, subscription facilities and repo transactions. At the same time, traditional areas, such as sovereign lending and commodity trade finance, continue to be strongly supported.
We are also seeing an increase in insurer appetite for political risk insurance, with some increasing their capability, and a particular emphasis on lender’s protection.
The CPRI market is starting to consider transactions within sectors particularly impacted by Covid, although most still face internal restrictions on what can be approved in the retail, travel and hospitality sectors.
The influx of capital into the London CPRI market has continued throughout 2021, with the following new teams now actively writing business after entering the market earlier in the year:
- Blenheim Syndicate, led by David James
- IQUW, led by Christopher Wilkinson
- Vantage Risk, led by Daniel Riordan
Miller hires business development specialist to join newly opening Geneva office
A return to face-to-face client service
Miller’s offices in London, Paris and newly established Geneva have now officially re-opened and we are delighted to be able to meet with our clients in person. Where travel restrictions are still in place, we continue to remain available to via phone and video calls.