Lloyd's gives in-principle approval to Credeq Syndicate 1998, which expects to write credit and surety from 2027

Lloyd's has granted in-principle approval for Credeq Syndicate 1998, Reinsurance News reported on 16 October 2026. Asta Managing Agency will manage the syndicate. Credeq will act as coverholder and supply its underwriting team and its network for sourcing business.

The syndicate is to write credit risk insurance, surety reinsurance and specialty European trade credit. Reinsurance News said it will give Credeq ‘additional, strategically aligned capacity’ that complements its existing capacity partnerships, but did not report a capacity figure. Intelligent Insurer reported that the new capacity is meant to support Credeq's global credit risk business and planned expansion.

Underwriting is expected to begin on 1 January 2027. This still depends on remaining implementation requirements and a final Permission to Underwrite from Lloyd's. Martin McConnell, Credeq's co-chief executive and head of credit risk insurance, called its own capacity within Lloyd's ‘a major milestone’. Asta chief executive Lorraine Harfitt said the approval showed the strength of the proposal.