Atradius gains Lloyd’s nod for new trade credit syndicate - Trade Treasury Payments

Lloyd’s of London has granted ‘in principle’ approval for global credit insurer Atradius to establish a dedicated syndicate, set to begin underwriting from 1 January 2026.

The new entity, Atradius Syndicate 1864, will focus on trade credit risks, with an initial mandate to serve both new and existing clients in the European financial sector. Once launched, it will mark the insurer’s formal entry into the Lloyd’s market, expanding its footprint beyond its existing operations in more than 50 countries.

The move comes amid a sustained increase in demand for trade credit insurance, as global insolvencies continue to climb. 

Atradius currently offers trade credit insurance, surety, and collections services globally, supported by credit data on more than 200 million companies. Its move to Lloyd’s is expected to give it access to the market’s global licensing framework and financial strength rating, while providing clients with broader access to capital and regulatory assurance.

Lloyd’s of London, a leading specialist insurance and reinsurance marketplace, operates through a syndicate model that enables underwriters to pool and share risk across a wide range of sectors and geographies. Its A-rated financial strength and global licensing network make it a platform of choice for insurers seeking international distribution and capital flexibility. For trade credit insurers like Atradius, entering Lloyd’s offers a route to expand underwriting capacity while maintaining regulatory rigour.

The application has been backed by PoloWorks and Aon Capital Advisory, both of whom will continue working with Atradius through the final stages of the approval process.

David Capdevila, CEO of Atradius, said the Lloyd’s platform offered “a compelling opportunity” to extend its credit risk capabilities. “We eagerly look forward to collaborating with Polo and the entire Lloyd’s team to carve out our niche in the Lloyd’s market,” he added.

Polo Managing Agency will manage the syndicate. CEO Paul Andrews said the partnership “brings Lloyd’s capacity to the trade credit market,” while Mike Cane of Aon Capital Advisory described it as “a significant milestone in the trade credit insurance sector”.

The use of a Lloyd’s syndicate model by a major private credit insurer is notable, particularly as demand for trade credit protection increases amid persistent insolvency risk and volatile global supply chains.

Syndicate 1864 is expected to complement, rather than replace, Atradius’ existing offerings. Market observers will be watching closely to see whether the move signals a broader trend among private insurers seeking to expand capacity and distribution through Lloyd’s.