Howden-owned MGA launches new credit risk insurance arm

Howden-owned specialty MGA Dual UK has launched a new credit risk insurance product to offer long‑term client protection in cross-border transactions and investments.

The new offering provides comprehensive non‑payment insurance that protects insureds against financial loss or non‑performance under specified contracts.

The binder is backed by an AA- rated Lloyd’s of London syndicate under a one-year binder agreement.

It enables Dual to write contract frustration business out to a maximum tenor of 15 years and credit risk business out to eight years.

David Lineham, managing director of credit risk at Dual UK, said: “The launch of our new credit risk insurance product marks Dual’s first entry into the credit risk insurance market at a time of significant geopolitical and economic realignment.

“As the world witnesses a shift from a unipolar to a multipolar order, with new alliances and evolving supply chain frameworks, demand for top-tier credit risk insurance continues to grow.”

Meeting demand

Commenting on the product launch, Simon McGinn, chief executive at Dual UK, said: “This launch marks an important moment for Dual and for the credit risk insurance market, coming at a time when brokers and their clients are navigating increasingly complex cross-border risks.

”Financial institutions have a growing need for long-term certainty and protection as global trading relationships shift. By bringing a new AA- rated carrier into this class, we’re expanding the level of specialist support available to organisations operating in these challenging conditions. 

“As an MGA, we combine deep specialist knowledge with the agility to move quickly and structure effective solutions. I’m delighted we’re able to offer this robust, carefully considered proposition for clients.”