Print this page

Credit and Political Risks

Political risk insurance is a specialised line of business that protects manufacturers, traders, investors and lenders against a range of risks that interfere with their ability to operate cross-border investments successfully, complete trade transactions or be paid.


  • Overview

    Covers available include: 

    • Pre-shipment perils including breach of contract, force majeure, import/export embargo and licence cancellation 
    • Non-delivery of goods and/or non-repayment of a prepayment made under a pre-export finance or barter contract
    • Unfair calling or fair call for political reasons of on-demand bonds
    • Non-payment of amounts contractually due 
    • Non-honouring of letters of credit 
    • Exchange transfer and Currency Inconvertibility 
    • Non-honouring of arbitration awards or court judgements 
    • Expropriation including confiscation, nationalisation, deprivation, selective discrimination, forced divesture and forced abandonment by an overseas government entity of an Insured’s interest in an equity shareholding, property, stocks, mobile plant and equipment.  Physical damage or destruction of property due to war, strikes, riots and civil commotion 
  • Territories

    We write business on a worldwide basis excluding Afghanistan, Cuba, North Korea, Republic of Sudan and Syria.

  • Risk appetite

    Line size up to USD 20 million per transaction

    Maximum Tenors:         

    • Political Risk & Contract Frustration Policies, 10 years
    • Trade Credit, 7 years
    • Financial Guarentee, 5 years
  • Distribution

    In addition to considering submissions at Lloyd’s, the Syndicate has authority to underwrite this account through its offices in Singapore, Dubai and Shanghai.  It will continue to explore the opportunity to develop new business using other offices in Argo Group’s global network.

  • Our expertise

    Our account is based on long-standing relations with key industrial and trader clients, banks and specialist brokers and our policies are tailored to address specific transactional needs.


John Moffatt
Head of Specialty

Team Biography:

John Moffatt

John Moffat joined ArgoGlobal in August 2010 to take up the role of Class Underwriter for Personal Accident. Having worked in the Lloyd’s and London Market for over 15 years, John has spent the last eight years specializing in international direct and facultative and cover holder business. Prior to joining ArgoGlobal, John worked for QBE Europe operations managing their personal accident portfolio.

DD: +44 (0)20 7712 7632
M: +44 (0)7539 233763


Jeremy Shallow
Class Underwriter

Team Biography:

Jeremy Shallow

Jeremy joined Argo in January 2016 to take up the role of Class Underwriter, Credit and Political Risk. He joins from Aspen Insurance where he served, most recently, as Deputy Head of its Credit and Political Risks Division. In this role, he played an integral part in the significant growth and diversification of this established book. Jeremy began his career with WestLB AG (now Portigon Financial Services) in 2005, as a graduate trainee, culminating with his appointment as a Director in Insurance Solutions, where he was responsible for sourcing and purchasing credit and political risk insurance for the bank’s global loan portfolio.

DD: +44 (0)20 3037 9875
M: +44 (0)7825 601449
Daniel Byrne
DD: +44 (0) 20 7712 7660
Francesca Thompson
Assistant Underwriter

Team Biography:

Francesca Thompson

After graduating from the University of Cambridge with a 2.1 in Geography, Francesca begun her career on the Lloyd’s Graduate Scheme in 2014, moving into the Argo Credit and Political Risks team in October 2016 as an Assistant Underwriter.

DD: +44 (0) 20 7712 7559