Lloyd's approves Credeq syndicate in principle; Asta named managing agent

By Ashish Tiwari Oct 16 (The Insurer) — Lloyd's has granted in-principle approval for Credeq Syndicate 1998, with Asta Managing Agency appointed as managing agent and Credeq set to serve as coverholder, the company said on Friday. The syndicate is expected to start underwriting on January 1, 2027, subject to completion of remaining implementation requirements and Lloyd's final Permission to Underwrite. Its underwriting plan will focus on credit risk insurance, surety reinsurance and specialist European trade credit. The new vehicle will add capacity for Credeq's existing credit risk business and support new growth alongside its current capacity partnerships. Credeq will serve as coverholder, providing specialist underwriting expertise and its global origination network. Asta Managing Agency will act as managing agent, while Marsh Capital & Advisory advised on the syndicate's formation, according to the company.