A trade credit agreement between Apollo and Coface has been approved
In the dynamic world of insurance, partnerships and innovation are the driving forces of growth. This is evident in the recent collaboration between Apollo, an innovation-focused insurance platform, and Coface, a leading French credit insurer. Together, they have launched a new trade credit syndicate at Lloyd's, named Syndicate 2546 [1][2][3][4].
Syndicate 2546, scheduled to commence underwriting in 2025, offers short-term trade credit insurance solutions that are AA-rated [1][3][4]. This partnership allows Coface to expand its global credit risk management offerings and target selected profitable market segments within the Lloyd’s marketplace.
The management and partnership of Syndicate 2546 is a strategic alliance between Apollo Syndicate Management and Coface. Apollo, with its track record in building innovative Lloyd's syndicates and its expertise across various insurance lines, will manage the new syndicate [1][2]. Coface, on the other hand, brings its specialized trade credit expertise to the partnership.
This initiative aligns with Coface’s strategic plan, Power The Core, which aims to deepen its core credit insurance expertise and develop a global ecosystem for credit risk management. The partnership supports Coface’s ambition to broaden its product range and improve customer support through tailored and resilient credit insurance offerings [1][3][4].
The creation of Syndicate 2546 also presents significant profitable growth potential for credit insurance solutions at Lloyd's. Coface identifies this as an opportunity to serve selected segments of the credit insurance market with robust and specialist products that complement its existing global offerings [1][3][4].
Gallagher Re provided support and advice to Coface throughout the approval and establishment process [2][3]. Ian Kerton, UK CEO of Gallagher Re, expressed pride in helping Coface gain in-principle approval for a new syndicate at Lloyd's.
Xavier Durand, Coface's Chief Executive Officer, sees the creation of Syndicate 2546 as an important step for Coface, reflecting their determination to improve customer support and offer a broader range of solutions. David Ibeson, CEO of Apollo Group, highlighted the excitement around this partnership, noting the synergy between Coface’s expertise and Apollo’s innovative syndicate capabilities as highly positive for the Lloyd’s market [1][2][3].
Lindsey Davies, Director of Operations at Amwins Global Risks, expressed delight at partnering with Coface and Apollo, and bringing their market leading delegated expertise on this project. The launch of Syndicate 2546 was also supported and advised by Lloyd's broker, Gallagher Re.
In summary, the Apollo-Coface partnership via Syndicate 2546 brings together Apollo’s syndicate management innovation and Coface’s credit insurance leadership to launch a Lloyd’s trade credit syndicate offering enhanced AA-rated solutions from 2025, positioning both firms to capitalize on growth opportunities in the global credit insurance sector [1][2][3][4]. This partnership not only brings profitable new business and deep expertise to the market but also marks a significant milestone in the modern era of Lloyd's syndicates.
- The strategic alliance between Apollo and Coface, known as Syndicate 2546, will commence underwriting in 2025, offering innovative, short-term trade credit insurance solutions that are AA-rated.
- This partnership allows Coface to expand its global credit risk management offerings, targeting selected profitable market segments within the Lloyd’s marketplace, while harnessing Apollo's expertise in syndicate management and underwriting.
- The creation of Syndicate 2546 marks a significant milestone in the modern era of Lloyd's syndicates, signifying the potential for profitable growth in the global credit insurance sector through innovation and collaboration in the industry.
