Award

POLITICAL AND CREDIT RISK INSURANCE FRAMEWORK

DEPARTMENT FOR INTERNATIONAL TRADE

This public procurement record has 5 releases in its history.

AwardUpdate

08 Mar 2023 at 10:21

AwardUpdate

07 Mar 2023 at 15:05

AwardUpdate

07 Mar 2023 at 14:36

AwardUpdate

07 Mar 2023 at 13:56

Award

03 Mar 2023 at 15:01

Summary of the contracting process

The Department for International Trade has concluded a procurement process for a framework contract titled "POLITICAL AND CREDIT RISK INSURANCE FRAMEWORK" in the financial and insurance services category. This procurement opportunity was conducted through an open procedure (above threshold) with a contract value of £250 million. The procurement stage has been completed, with the contract period scheduled from 16th January 2023 to 15th January 2027.

This tender presents an opportunity for businesses in the insurance and brokerage sectors to engage with UK Export Finance on a Political & Credit Risk Insurance Framework agreement. The Department for International Trade based in London, UK, has successfully awarded the contract to multiple suppliers for various lots. Small and medium-sized enterprises (SMEs) as well as large-scale enterprises are involved as suppliers, indicating a mix of businesses suitable for this framework. The contract offers a significant value and lasting period, creating stable growth opportunities for successful bidders.

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Notice Title

POLITICAL AND CREDIT RISK INSURANCE FRAMEWORK

Notice Description

UK Export Finance has formed a Political & Credit Risk Insurance Framework (Lot 1: Brokerage, Lot 2: Insurance) agreement. The initial contract period is for 2 years with an option to extend twice for 12 months each time.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ad482e60-4747-4d65-854d-e35cf7e312c2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1ca59ece-d90f-4ede-8fc5-215fbc36dd7c
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£250,000,000 £100M-£1B
Lots Value
Not specified
Awards Value
£250,000,000 £100M-£1B
Contracts Value
Not specified

Notice Dates

Publication Date
8 Mar 20232 years ago
Submission Deadline
15 Jan 2023Expired
Future Notice Date
Not specified
Award Date
3 Feb 20233 years ago
Contract Period
16 Jan 2023 - 15 Jan 2027 4-5 years
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR INTERNATIONAL TRADE
Contact Name
Not specified
Contact Email
commercialmarevents@trade.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SW1A 2DY
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
33
Supplier Names

AEGIS MANAGING AGENCY

AMERICAN INTERNATIONAL GROUP

AON

APOLLO SYNDICATE MANAGEMENT

ARGO MANAGING AGENCY

ARK SYNDICATE MANAGEMENT

ASCOT UNDERWRITING

ASPEN MANAGING AGENCY

AXA XL INSURANCE

BEAZLEY FURLONGE

BERRY PALMER & LYLE

CANOPIUS MANAGING AGENTS

CHAUCER SYNDICATES

CHUBB EUROPEAN GROUP

CINCINNATI GLOBAL UNDERWRITING AGENCY

COMPAGNIE FRANCAISE D'ASSURANCE POUR LE COMMERCE EXT

ENDURANCE WORLDWIDE INSURANCE

EULER HERMES SA (NV

FIDELIS UNDERWRITING

HAMILTON MANAGING AGENCY

HDI GLOBAL SPECIALTY

IQUW SYNDICATE MANAGEMENT

LANCASHIRE INSURANCE COMPANY (UK

LIBERTY MANAGING AGENCY

LIBERTY MUTUAL INSURANCE EUROPE

MARKEL SYNDICATE MANAGEMENT

MS AMLIN UNDERWRITING

MUNICH RE SYNDICATE

NAVIGATORS UNDERWRITING AGENCY

QBE

STARR MANAGING AGENTS

SWISS RE INTERNATIONAL

TALBOT UNDERWRITING

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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