CANOPIUS EXTENDS CREDIT AND POLITICAL RISK DISTRIBUTION

Canopius has expanded its trade credit and political risk distribution, signing an agreement that will allow managing general agent (MGA) Anvil Underwriting to underwrite on its behalf. Anvil will offer credit insurance, contract frustration and political risks on behalf of Canopius. The arrangement is set to come into force on September 3. The MGA will be able to provide policy limits of up to $25m for contract frustration risk, offering tenors of up to 10 years. For trade and non-trade credit risk, Anvil will be offering limits of up to $15m and tenors of up to seven years. Canopius will cover 100% of the risks for the policies sold through Anvil. Bernie de Haldevang, head of specialty at Canopius, said: “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.”