Canopius announced it has signed a partnership with Anvil Underwriting Ltd., a credit and political risk managing general agent (MGA).
The agreement is effective from Sept. 3 and will allow Anvil to underwrite credit insurance, contract frustration and political risks on behalf of Canopius.
Through its partnership with Anvil, Canopius will be able to provide policy limits of up to $25 million and tenor of up to 10 years for contract frustration and up to $15 million and tenor of maximum seven years for trade and non-trade credit risk.
“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,” said Bernie de Haldevang, head of specialty at Canopius.
“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 added.
Navaid Farooq, managing director at Anvil, said: “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 percent of the risks for Anvil’s clients and be able to build a high-quality book.”