What type of business is it good for?
- Exporters/manufacturers
- Global banks
- Commodity traders
- Multilateral organizations
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Highlights on this page
Overview
Specialist with a flexible approach to underwriting
Policy periods up to 15 years
Business written globally with a line size of up to $50 million
AXIS Credit & Political Risk Insurance provides credit solutions to help manage clients exposures to a variety of different risks. Ranging from political risks, and counterparty risks, to helping financial institutions manage their regulatory capital charges. These are offered to multinationals, government agencies and international banks as part of a diverse portfolio of risk management products. Our target sectors include banking, infrastructure, metals and mining, and oil and gas. Today, international businesses face a never-ending exposure to fluctuating business norms and political instability. To protect against the financial impact of these risks, clients need an insurer with the global presence to understand their exposure and the capacity to pay potentially substantial claims. AXIS Credit & Political Risk Insurance policies use underwriting expertise to make sure clients have appropriate coverage for the evolving nature of credit and political risks. For the right client, AXIS can offer substantial line sizes of up to $50 million over long tenors.
Solutions
Solution
AXIS Credit Insurance
Insurance
AXIS understands the many uncertainties that clients may face when contracting with international trading partners. We offer protection against non-payment by clients’ customers due to insolvency, default, and country risk.
AXIS understands the many uncertainties that clients may face when contracting with international trading partners. We offer protection against non-payment by clients’ customers due to insolvency, default, and country risk.
Solution
AXIS Coverholders Insurance
Insurance
We specialize in offering coverage for niche credit risks to a broad range of clients through carefully selected coverholders.
We specialize in offering coverage for niche credit risks to a broad range of clients through carefully selected coverholders.
Solution
AXIS Mortgage Insurance
Insurance
We offer a market for mortgage credit risk treaty business and reinsurance on a proportional and excess of loss basis. Target clients include both government-sponsored enterprises and private mortgage insurers.
We offer a market for mortgage credit risk treaty business and reinsurance on a proportional and excess of loss basis. Target clients include both government-sponsored enterprises and private mortgage insurers.
Solution
AXIS Political Risks Insurance
Insurance
The underwriters of AXIS Political Risk Insurance look beyond the headlines to help identify both obvious and lesser-known exposures in multiple countries around the world. We work closely with brokers to evaluate those risks and write policies to cover each client's needs.
The underwriters of AXIS Political Risk Insurance look beyond the headlines to help identify both obvious and lesser-known exposures in multiple countries around the world. We work closely with brokers to evaluate those risks and write policies to cover each client's needs.
Capabilities
AXIS Credit & Political Risk Insurance provides the following heads of cover:
Credit protection offered includes:
- Non-payment – private obligors
- Non-delivery
- Non-honoring of letters of credit
- Exchange transfer and currencies inconvertibility
- Embargo and license cancellation
- Contract repudiation
- Refusal to perform contractual obligations
- Refusal to honor arbitration awards or court judgments
- Unfair calling/fair call of on demand bonds
- Lenders mortgage insurance/reinsurance
Political risks come in many forms:
- Non-payment – sovereign/sub-sovereign
- Confiscation
- Expropriation
- Nationalization and deprivation
- Selective discrimination
- Forced divestiture
- Forced abandonment
- Aircraft repossession (under confiscation)
Target classes
- Financial institutions
- Export credit agencies
- Multilateral organizations/development finance institutions
- Commodity trader
- Exporters
- Government sponsored enterprises
- Private mortgage insurers
- Coverholders
Claims
Clients can rest assured that when a credit and political risk claim is filed AXIS focuses on:
- Quick decision making
- Championing your needs
- An honest approach
