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Credit Political Risk - Broker Contract

UK EXPORT FINANCE

This public procurement record has 6 releases in its history.

Award

04 Aug 2026 at 16:26

UK6 - Contract Award Notice
Tender

10 Apr 2026 at 16:57

UK4 - Tender Notice
PlanningUpdate

19 Feb 2026 at 12:33

UK1 - Pipeline Notice
Planning

13 May 2025 at 14:36

UK2 - Preliminary Market Engagement Notice
PlanningUpdate

13 May 2025 at 09:39

UK1 - Pipeline Notice
Planning

13 May 2025 at 09:32

UK1 - Pipeline Notice
Summary of the contracting process

UK Export Finance procured credit and political risk brokerage services, classified as insurance services, for activity across the United Kingdom. The requirement covers a primary broker and a reserve broker arrangement to support the organisation’s credit and political risk insurance needs. The buyer is UK Export Finance, a central government authority based in London. The service is specialist insurance brokerage rather than general insurance provision: suppliers are expected to access relevant insurance markets and arrange facultative reinsurance with a credit and political risks focus. The procurement was structured as one service lot, with the primary and reserve broker roles awarded separately. It is therefore relevant to insurance brokers with specialist experience in credit and political risk, facultative reinsurance and access to the Lloyd’s market.

The procurement is complete and was run as an above-threshold open procedure. Four bids were received, with technical quality weighted at 75%, social value at 10% and price at 15%. The estimated value was £2,000,000 excluding VAT, or £2,400,000 including VAT. AON UK Limited was awarded the Primary Broker role on 31 July 2026 for £2,000,000 excluding VAT (£2,400,000 including VAT), with a contract from 17 August 2026 to 16 August 2029 and an optional two-year extension to 16 August 2031 by mutual agreement. Marsh Limited was awarded the Reserve Broker role on 31 July 2026 at £0; spend may transfer from the primary arrangement if the reserve provision is used. Both contracts share the same period, and signature was scheduled for 14 August 2026.

This award shows demand from UK Export Finance for a specialist broker able to deliver credit and political risk brokerage through the Lloyd’s market. A credible competitor for a future requirement would need Financial Conduct Authority registration or authorisation, Lloyd’s of London accreditation and a valid Cyber Essentials certificate or equivalent. The market engagement requirements also point to FCA-registered brokers specialising in facultative reinsurance with a credit and political risks focus, and capable of accessing Lloyd’s insurance companies. The evaluation placed greatest emphasis on technical quality, so firms would need to demonstrate strong technical delivery and relevant market access, alongside social value and competitive pricing. Financial robustness is also important: the buyer assessed suppliers through Dun and Bradstreet risk information and, where necessary, a financial viability assessment.

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Notice Information

Notice Title

Credit Political Risk - Broker Contract

Notice Description

Credit Political Risk Brokerage Services.

Planning Information

Engagement will take place through written communications and a market engagement event on the afternoon of the 4th June 2025 via Teams and in person in Westminster. For information on how to receive an invite to this event, please contact commercial@ukexportfinance.gov.uk. Due to limited space, only organisations capable of providing this service will be permitted to attend. We define capability as suppliers who are FCA registered brokers specialising in Facultative reinsurance with a credit and political risks focus. The suppliers must also be Lloyds registered as they must be capable of accessing Lloyds insurance companies to fulfil the requirement.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05119a
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/073862-2026
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
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

66510000 - Insurance services

Notice Value(s)

Tender Value
£2,000,000 £1M-£10M
Lots Value
£2,000,000 £1M-£10M
Awards Value
£2,000,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
4 Aug 20262 months ago
Submission Deadline
6 May 2026Expired
Future Notice Date
23 Feb 2026Expired
Award Date
31 Jul 20262 months ago
Contract Period
17 Aug 2026 - 16 Aug 2029 3-4 years
Recurrence
2030-01-10

Notice Status

Tender Status
Complete
Lots Status
Complete
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
2
Supplier Names

Aon Limited

Marsh Limited

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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