Credeq has secured in-principle approval for a specialist credit insurance syndicate at Lloyd’s, with underwriting expected to begin on January 1, 2027, subject to final checks. Global Trade Review reported that Syndicate 1998 will add capacity for the London-headquartered underwriting management agency, which describes the initiative as part of its growth strategy.
The proposed syndicate will focus on credit risk insurance, surety reinsurance and speciality European trade credit. Credeq will serve as coverholder, with Asta taking the managing agent role. Marsh Capital & Advisory advised on establishing the syndicate. The approval remains preliminary: the planned January launch is conditional on completion of the remaining checks rather than a confirmed start of underwriting.
Martin McConnell, Credeq’s co-chief executive and head of credit risk insurance, said the arrangement would give the agency additional capacity aligned with its business strategy. According to his comments reported by Global Trade Review, that capacity is intended to help Credeq support clients and underwrite complex credit risks across its markets. He presented the Lloyd’s syndicate as an addition to the agency’s existing capacity partnerships, rather than a replacement for those relationships.
Credeq was established in 2025 as an independent underwriting management agency, following Lombard Insurance’s separation of its guarantee and trade credit business to create Credeq Africa. Asta chief executive Lorraine Harfitt welcomed the partnership and characterised the in-principle approval as a step towards Credeq’s entry into the Lloyd’s market. Her comments linked the approval to the relationship already developed between the two businesses.
The development follows another proposed addition to trade-related insurance capacity at Lloyd’s. Global Trade Review noted that speciality insurer and reinsurer Convex Group received approval earlier in 2026 to launch a syndicate whose portfolio includes political risk and trade credit insurance. Credeq’s announced remit centres on credit insurance and surety reinsurance, including its specified European trade credit focus.