In the second week of March, Lloyd’s Japan Inc. (LJI) received a Political Risks & Trade Credit product licence from the Japan Financial Services Agency. Syndicates now have the ability to issue local policies in Japan through LJI in this class.

The licence was obtained in response to significant ongoing overseas investment by Japanese corporates, many of whom face new risk management challenges as they acquire assets or enter projects in various territories worldwide.

Whilst other local providers in Japan can provide political risk and trade credit coverage, this often does not fully address the insured’s requirements and LJI have noticed increased demand over the last 12-18 months for this type of cover. 

Business falling under the Lloyd’s “PR”, “CR” and “CF” risk codes can be accommodated under this new product licence on a case by case basis with immediate effect. LJI also intends to create a new political risks and trade credit facility for Japan risks, scheduled for launch in late Q2.

Market participants interested in using the new product licence through LJI should  contact Iain Ferguson or Mineyuki Yokota.

Iain Ferguson
President
Lloyd’s Japan Inc.   
e: iain.ferguson@lloyds.com

Mineyuki Yokota
Underwriting Services Director
Lloyd’s Japan Inc.
e: mineyuki.yokota@lloyds.com