COFACE SA: Coface launches its syndicate at Lloyd's offering AA solutions to its clients

Core Insights - Coface has received "in principle approval" from Lloyd's to establish a new short-term trade credit syndicate, managed by Apollo Syndicate Management, expected to commence underwriting in 2025 [1][2] - The new syndicate (Coface Lloyd's Syndicate, 2546) aims to provide AA-rated solutions, enhancing Coface's offerings and addressing market needs, with significant growth potential in credit insurance solutions at Lloyd's [2][3] - The initiative aligns with Coface's strategic plan, "Power The Core," which focuses on strengthening its core expertise in credit insurance and developing a global ecosystem for credit risk management [3] Company Overview - Coface is a leading player in trade credit risk management, serving approximately 100,000 clients across 200 markets, offering a range of solutions including Trade Credit Insurance, Business Information, and Debt Collection [14][15] - In 2024, Coface reported a turnover of €1.84 billion and employed around 5,236 people, indicating its significant presence in the industry [15] Partnership and Support - Apollo Group CEO expressed enthusiasm about the partnership with Coface, highlighting the combination of Coface's trade credit expertise and Apollo's innovative syndicate-building capabilities as beneficial for the Lloyd's market [4] - Gallagher Re provided support and advice throughout the establishment process of the new syndicate, showcasing its role as a full-service global reinsurance broking and advisory firm [2][7]