Allianz Trade has rolled out a new specialty credit insurance solution designed to support projects with defined social outcomes while protecting participants against non-payment and political risks.
The insurer’s new Specialty Credit Social2Social product is designed to help corporates, banks, multilaterals and public sector bodies engage in projects addressing specific social issues, including affordable basic infrastructure and essential services, affordable housing and socioeconomic advancement in underdeveloped or disadvantaged communities.
It says all premium generated through Social2Social policies will be invested in certified social bonds.
Pierre Lamourelle, deputy global head of specialty credit and midterm at Allianz Trade, commented: “For decades now, we collaborate with global institutions and partners dedicated to fostering positive social impact, underwriting policies that empower them to expand their programs. Managing short-to-long-term transactions, political risk and highly concentrated risks from large contracts and structured deals is becoming more complex. Our impact underwriting capabilities are therefore becoming instrumental for these players.”
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