Banks

We have led the way in developing non-payment insurance policies capable of qualifying as credit risk mitigants under Basel II/III. We work closely with our banking clients to ensure compliance with regulatory requirements, particularly in relation to policy wordings and the effectiveness of their monitoring procedures.

Our comprehensive non-payment insurance covers default by the obligor or borrower for both commercial and political reasons.

• If required, our policies also provide protection against the non-honouring of guarantees or letters of credit, whether issued by public or private sector banks.
• Similarly, our policies can be designed for banks participating in structured trade transactions, particularly in the commodities sector. These policies can be issued either for individual transactions or as facilities supporting entire portfolios.

Our enhanced investment and property-based PRI policies benefit asset finance departments wishing to protect collateral in emerging markets by providing cover against the full range of political and terrorism risks.

We also place lenders’ PRI cover where comprehensive non-payment insurance is not available, or where clients prefer this more limited form of coverage.