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UKEF Political & Credit Risk Insurance Framework

UK Export Finance

This public procurement record has 3 releases in its history.

TenderUpdate

20 Jun 2023 at 16:35

Tender Notice
Award

16 Jun 2023 at 15:28

Award Notice
Tender

06 May 2022 at 11:37

Tender Notice
Summary of the contracting process

UK Export Finance has initiated a tender process for the Political & Credit Risk Insurance Framework. The procurement encompasses brokerage and insurance services within the Financial and insurance services category. The process is currently at the award stage, with key details including a 2-year initial contract period with extension options and a deadline of 2023-06-16 for the latest awards. The buying organisation, UK Export Finance, based in London, United Kingdom, has set up this framework agreement for business opportunities.

This tender for the Political & Credit Risk Insurance Framework by UK Export Finance provides opportunities for businesses in the financial and insurance services sector to participate in brokerage and insurance contracts. Businesses offering insurance services, risk management, and financial consulting are well-suited to engage in this tender. The procurement method is an open procedure, and the process aims to create business growth opportunities for suitable suppliers and contractors in the industry category of services.

How relevant is this notice?

Notice Information

Notice Title

UKEF Political & 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.

Lot Information

UK Export Finance Political and Credit Risk Insurance Services (Brokerage)

The full specification is provided with the contract documents but in summary UKEF intends to put in place a Framework for the provision of services: * Lot 1: Provision of Insurance Brokerage Services The Authority is seeking the provision of an insurance brokering service. The Authority envisages entering into framework agreements with two brokers: a Primary Broker and Reserve Broker. The Authority will utilise the services of the Reserve Broker in the event of a conflict of interest or suspension or termination of arrangements with the Primary Broker. The Primary Broker shall perform the Services: * Insurer relationship management. * Market soundings. * Arranging the placing of new Contracts of Insurance with Lot 2 Political and Credit Risk Insurers. * Managing communications and endorsements relating to new Contracts of Insurance Political and Credit Risk Insurers. The typical profile of the insurance policies is (but not limited to): Political and credit risk, generally involving counterparties outside the UK; Facultative insurance policies (although the Broker may be required to arrange other forms of insurance e.g. reinsurance and treaty insurance); Sums insured typically between PS10m and PS500m; ; insurance tenors typically between 5 and 15 years; Transactions and Premiums typically denominated in US Dollars or Euros; * Claims and recoveries. Call off contracts under Lot 1 for arranging the placement of new Contracts of Insurance with Lot 2 Political and Credit Risk Insurers (c.3 per annum) will be made through the direct award procedure as detailed further in the contract documents. * Lot 2: Insurance panel. The Authority is seeking the provision of contracts of insurance or reinsurance. Bidders appointed to the panel will enter into Framework Agreements with the Authority. Further transactions may follow as and when required by the Authority, over the term of the Framework Agreement. The Authority will seek the provision of insurance through a Further Competition Procedure which will be led by a Lot 1 Broker. Contracts of insurance placed under Lot 2 will be made through the further competition procedure as detailed further in the contract documents. *Note that PS250m is the maximum anticipated spend. The actual spend is expected to be between PS50m and PS250m depending on requirements.

Renewal: 2 Year initial term with two one year extensions.

UK Export Finance Political and Credit Risk Insurance Services Framework (Insurance)

UK Export Finance (the "Authority") has a requirement for the provision of brokerage services and contracts of insurance or re-insurance principally for political and credit risk. The purpose of this Contract Notice is to invite potential suppliers to either: a) tender for a Framework Agreement for insurance brokerage services in competition in accordance with the conditions set out in the Invitation to Tender on the eTendering Portal: https://uktrade.app.jaggaer.com/; or b) tender for a place on a panel of Insurers (including Reinsurers) in accordance with the conditions set out in the Invitation to Tender on the eTendering Portal: https://uktrade.app.jaggaer.com/ The services delivery model consists of two lots: * Lot 1 Insurance brokerage services The Authority intends to appoint a Primary Broker and Reserve Broker *Lot 2 Insurance panel Appointment to the panel is restricted to those bidders which meet the stated Selection Criteria and other conditions set out in the ITT. Affiliates of the Primary Broker will not be accepted *Note that PS250m is the maximum anticipated spend. The actual spend is expected to be between PS50m and PS250m depending on requirements.

Renewal: 2 Year initial term with two one year extensions.

250000000

Political & Credit Risk Insurance Framework (Lot 1: Brokerage, Lot 2: Insurance) agreement.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0334c2
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/017566-2023
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

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

Notice Dates

Publication Date
20 Jun 20233 years ago
Submission Deadline
6 Jun 2022Expired
Future Notice Date
Not specified
Award Date
16 Jan 20233 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Active, Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
UK Export Finance
Additional Buyers

Department for International Trade, 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
Not specified
Postcode Area
Not specified
Country
Not specified
Major Region (ITL 1)
Not specified
Basic Region (ITL 2)
Not specified
Small Region (ITL 3)
Not specified
Delivery Location
Not specified
Local Authority
Not specified
Electoral Ward
Not specified
Westminster Constituency
Not specified

Supplier Information

Number of Suppliers
33
Supplier Names

AEGIS MANAGING AGENCY LIMITED

AMERICAN INTERNATIONAL GROUP UK LIMITED

APOLLO SYNDICATE MANAGEMENT LIMITED

ARGO MANAGING AGENCY LIMITED

ARK SYNDICATE MANAGEMENT LIMITED

ASCOT UNDERWRITING LIMITED

ASPEN MANAGING AGENCY LIMITED

AXA XL INSURANCE COMPANY UK LIMITED

Aon UK Limited

BEAZLEY FURLONGE LIMITED

Berry Palmer & Lyle Limited

CANOPIUS MANAGING AGENTS LIMITED

CHAUCER SYNDICATES LIMITED

CHUBB EUROPEAN GROUP SE

CINCINNATI GLOBAL UNDERWRITING AGENCY LIMITED

Compagnie Francaise d'Assurance pour le Commerce Extérieur,

ENDURANCE WORLDWIDE INSURANCE LIMITED

EULER HERMES UK the UK branch of EULER HERMES SA (NV)

FIDELIS UNDERWRITING LIMITED

HAMILTON MANAGING AGENCY LIMITED

HDI GLOBAL SPECIALTY SE – UK

IQUW SYNDICATE MANAGEMENT LIMITED

LANCASHIRE INSURANCE COMPANY (UK) LIMITED

LIBERTY MANAGING AGENCY LIMITED

LIBERTY MUTUAL INSURANCE EUROPE SE

MARKEL SYNDICATE MANAGEMENT LIMITED

MS AMLIN UNDERWRITING LIMITED

MUNICH RE SYNDICATE LIMITED

NAVIGATORS UNDERWRITING AGENCY LIMITED UK Export Finance

QBE UK LIMITED

STARR MANAGING AGENTS LIMITED

SWISS RE INTERNATIONAL SE

Talbot Underwriting Ltd

Further Information

Open Contracting Data Standard (OCDS)

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