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Credit & Political Risks

Carolyn Thomas

Global Head of Credit and Political Risks

Tel: +1 441 297 9383

Businesses, banks and commercial government entities are increasingly exposed to credit and political risks. Exposures arise not only in emerging economies but also in established international and domestic markets.

Aspen’s Credit and Political Risks team provides the best possible protection across these areas of risk. We have the capacity and specialist expertise to help you understand and manage the specific risks faced by your business.

The Credit and Political Risks team provides a range of solutions in three areas:

  • We offer credit insurance against non-payment by private or quoted companies, including loans made for capital goods and trade contracts. We also protect against default and non-performance by state-owned entities and sovereigns, commonly known as contract frustration.
  • We insure banks and companies against government expropriation of overseas investments and other forms of political risk.
  • As part of a political risk package we also provide insurance to help withstand the financial impact of terrorism and other forms of politically-motivated violence, covering against property damage and business interruption.

Aspen are a recognised market leader; we write lines of up to US$100 million per risk on Aspen Insurance UK Limited paper or Aspen Bermuda Ltd and up to US$60 million per risk on Aspen’s Lloyd’s Syndicate 4711 paper. To support our clients who need insurance for long-term obligations, we provide cover for periods of up to 15 years for specific contract frustration, political risk and project financing, and eight years for credit risk.

The members of Aspen’s Credit and Political Risks team have over 120 years of combined experience in this specialist field, providing the knowledge and experience to address a range of financial and political risk insurance needs. Aspen Credit and Political Risks currently operates out of Bermuda, London and Singapore.

Our expertise in these areas of risk extends into the claims management arena, where our Credit and Political Risks claims specialists work in close proximity to our underwriters to deliver a prompt and efficient service to our clients.


What can we do?

Capacity - Max. line size per risk (USD)

  AIUK ABL Syndicate 4711
Political Risk $100m $100m $60m
Contract Frustration $100m $100m $60m
Credit $100m $100m $60m

Tenor - Years

  AIUK ABL Syndicate 4711
Political Risk 15 15 15
Contract Frustration 15 15 15
Credit 8 8 8