Award

Political and Credit Risk Insurance

UK EXPORT FINANCE

This public procurement record has 1 release in its history.

Award

01 Sep 2023 at 11:09

Award Notice
Summary of the contracting process

The UK Export Finance has awarded a contract for Political and Credit Risk Insurance with a total value of £750,000. The procurement method used was selective, with a call-off from a framework agreement. The tender period ended on 1st June 2023, and the contract period spans from 1st August 2023 to 31st July 2028. The award was recently given on 1st August 2023 to multiple suppliers, including Lloyd's Underwriter Syndicates, with a total value of £3,000,000. The buying organisation is UK Export Finance based in London, United Kingdom.

This tender for Political and Credit Risk Insurance presents an opportunity for businesses in the insurance services industry. Companies specialising in insurance services and experienced in dealing with political and credit risk insurance would be well-suited to compete. The contract awarded to multiple suppliers allows for potential collaboration and growth within the industry. Businesses interested in providing such specialised services should monitor similar selective tenders for future opportunities to expand their market presence and revenue streams.

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Notice Information

Notice Title

Political and Credit Risk Insurance

Notice Description

This is a contract for political and credit risk insurance, awarded to multiple framework suppliers. The total value of the contract does not exceed the value stated above.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-4da2a984-808a-4868-bd48-a840996a8f2d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/15eb0725-a6a1-436a-93be-dafacc82cc06
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
£750,000 £500K-£1M
Lots Value
Not specified
Awards Value
£3,000,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
1 Sep 20232 years ago
Submission Deadline
1 Jun 2023Expired
Future Notice Date
Not specified
Award Date
31 Jul 20232 years ago
Contract Period
31 Jul 2023 - 31 Jul 2028 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
UK EXPORT FINANCE
Contact Name
Not specified
Contact Email
commercial@ukexportfinance.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SW1A 2HQ
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
3
Supplier Names

LLOYD'S UNDERWRITER SYNDICATE NO. 1084 (CHAUCER

LLOYD'S UNDERWRITER SYNDICATE NO. 1919 (STARR COMPANIES

LLOYD'S UNDERWRITER SYNDICATE NO. 4444 (CANOPIUS

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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