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Political and Credit Risk Insurance

UK Export Finance

This public procurement record has 1 release in its history.

Award

01 Sep 2023 at 12:05

Award Notice
Summary of the contracting process

The UK Export Finance has awarded a contract for Political and Credit Risk Insurance. The total value of the contract is £3,000,000 GBP. The procurement method used was selective, involving a call-off from a framework agreement. The contract period spans from August 1, 2023, to July 31, 2027. The procurement stage is completed with the award date being August 1, 2023. The buying organisation is UK Export Finance, located at 1 Horse Guards Road, London, SW1A2HQ. The industry category is services. The contract was awarded to multiple suppliers.

This tender for Political and Credit Risk Insurance presents an opportunity for large insurance companies and underwriters to expand their portfolios. Businesses specializing in insurance services and risk management would be well-suited to compete. The contract value and length provide stable revenue streams for successful bidders. Suppliers need to comply with the procurement method of selective call-off from a framework agreement. This procurement process was completed, signifying a closed opportunity for interested businesses.

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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-f6952588-20c1-4010-90ff-98d80aa09fdc
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/24b207f7-824a-494a-b67f-f040c43ff8c5
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
£3,000,000 £1M-£10M
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
1 Aug 20233 years ago
Contract Period
1 Aug 2023 - 31 Jul 2027 4-5 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
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1A 2HQ
Postcode Area
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
9
Supplier Names

AXA XL

Lloyd's Underwriter Syndicate No. 1084 (Chaucer)

Lloyd's Underwriter Syndicate No. 2001 (MS Amlin)

FIDELIS UNDERWRITING LIMITED

Lloyd's Underwriter Syndicate No. 3000 (Markel)

Lloyd's Underwriter Syndicate No. 3902 (Ark)

Lloyd's Underwriter Syndicate No. 4444 (Canopius)

Lloyd's Underwriter Syndicate No. 1221 (Hartford)

Lloyd's Underwriter Syndicate No. 1414 (Ascot)

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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