Reinsurance
Product Family

Political Risk and Credit Insurance

Insuring against Political and Credit risks in a complex and rapidly evolving global marketplace

Our global team is ranked #1 in Insurance Insider’s Political Risk 2020 report.

For more than 30 years, we have offered a full range of tailored Political Risk and Credit Insurance products from our global underwriting offices. We provide the specialisation and capacity that allow our clients to carry out commerce with greater certainty, to secure assets overseas and to protect payment streams and dividend flows. We provide cover for corporations, financial institutions, as well as multilateral, developmental and governmental agencies. Our policies are backed by AXA’s strong AA- credit rating from S&P or Lloyd’s A+ rating.

In the event of a covered loss, our claims professionals deliver the highest levels of service and are positioned to manage claims across the world. We understand the nuances and challenges presented by various jurisdictions and are locally empowered to address and resolve claims promptly and fairly. Also, following a claim we can assist in developing and implementing recovery strategies using our network of diplomatic contacts and recovery agents.

Coverage

  • Political Risk Investment (PRI): Confiscation, expropriation, nationalization, currency inconvertibility, political violence and arbitration award default (Up to 20 years per policy)
  • Contract Frustration (CF): Non-payment by public sector borrowers, licence cancellation, trade embargo, war (Up to 20 years per policy)
  • Credit Insurance: Non-payment by private sector obligor, project/infrastructure finance (Up to 20 years per policy)

Benefits & Services

Exchange uncertainty for certainty with our bespoke solutions and wordings from our innovative, market leading underwriting teams. We take pride in our ability to offer flexible and customisable policies to satisfy our clients’ needs.

We can issue policies from the United States, the United Kingdom, Ireland, Singapore, Bermuda, Canada, Brazil and Australia, as well as Lloyd’s Syndicate 2003, to accommodate licensing and geographical location requirements. With underwriters in New York, London, Paris, Madrid, Singapore, Hamilton, Toronto, Washington and Sydney, we provide local, same-time-zone access to our global team of experts.

All of our products are backed by the financial strength of AXA Group that clients can count on.

Client Profiles

  • Multilateral development banks, development financial institutions, export credit agencies
  • Global and leading regional financial institutions
  • Mobile asset financiers
  • Exporters and manufacturers
  • Commodity traders
  • Engineering/procurement/construction contractors

Financial Institutions, Multilateral & Governmental Agencies

We are committed to partnering with financial institutions, agencies and government-sponsored enterprises on everything from individual credit transactions to large portfolios to create tailored solutions to help you do what you do best.

Individual Credit Transaction
We offer coverage for single-risk credit transactions against non-payment by the obligor. This can be used to support one-off transactions that may be unusual or challenging due to internal aggregation constraints or to support bespoke structures crafted for the specific needs of the transaction or sector. Wordings are matched to the particular risk to provide prompt payment in the event of a covered loss.

Portfolio Coverage
We are able to cover multiple credit transaction obligations in the event of non-payment losses. This coverage can be customised to help manage exposure aggregations to cover losses to a portfolio within certain parameters including timing and loss sizes. This approach allows for significant exposures and potential fiscal burden to the taxpayer to be mitigated, with the option to modify and enhance coverage over time.

Capacity
Up to 20 years per policy

Typical Information Required
For an initial assessment, please supply a full executive summary of the proposed request.

The information contained herein is intended for informational purposes only. It’s is neither an offer to sell nor a solicitation to purchase any particular insurance product. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy wordings for specific coverage details. AXA XL is a division of AXA Group providing products and services through three business groups: AXA XL Insurance, AXA XL Reinsurance and AXA XL Risk Consulting. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.

US- and Canada-Issued Insurance Policies. In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA Group.

Talk with us

We can match you with the perfect person for your specific needs.
Enter your First Name
Enter your Last Name
Enter your valid Email ID
Select your country
Select What best describes you