---
title: "UKEF Political & Credit Risk Insurance Framework"
ocid: "ocds-h6vhtk-0334c2"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0334c2"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-0334c2.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-0334c2.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "UK EXPORT FINANCE"
published: "2023-06-20"
---

# UKEF Political & Credit Risk Insurance Framework

Buyer: UK EXPORT FINANCE  
Current stage: Award  
OCID: ocds-h6vhtk-0334c2

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[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-0334c2.json)

## Summary

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.

## Notice

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.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/017566-2023 |
| 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 |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 20 Jun 2023 |
| Submission deadline | 6 Jun 2022 |
| Future notice date | Not specified |
| Award date | 16 Jan 2023 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £250,000,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £250,000,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Active, Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | UK EXPORT FINANCE |
| Additional buyers | DEPARTMENT FOR INTERNATIONAL TRADE, UK EXPORT FINANCE |
| Locality | LONDON |
| Post town | South West London |
| Postcode | N/A |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| 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 EXTÉRIEUR; ENDURANCE WORLDWIDE INSURANCE; EULER HERMES UK THE UK BRANCH OF 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 LIMITED UK EXPORT FINANCE; QBE; STARR MANAGING AGENTS; SWISS RE INTERNATIONAL; TALBOT UNDERWRITING |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services

## Release History

- 20 Jun 2023 at 15:35 - TenderUpdate - Tender Notice - https://www.find-tender.service.gov.uk/Notice/017566-2023
- 16 Jun 2023 at 14:28 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/017225-2023
- 6 May 2022 at 10:37 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/011813-2022

## Notice URLs

- https://uktrade.app.jaggaer.com/
- https://www.gov.uk/government/organisations/uk-export-finance
- https://www.ukexportfinance.gov.uk/

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0334c2. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-0334c2.json.