Applied Risk Capital (ARC), the credit insurance managing general agent operating within Amwins, has launched a Portfolio Credit programme extending non-payment insurance beyond individual leveraged finance borrowers to diversified pools of credit risk.
The offering covers portfolios spanning corporate, sponsor-backed and asset-based lending, with transactions structured to include meaningful subordination beneath the insured layer. Eligible exposures include fund-level financing, bank risk transfer arrangements and tranched debt structures.
The programme targets banks seeking to manage balance sheets and regulatory capital, asset managers looking to finance funds and broaden their investor base, and insurers seeking rated credit exposure with capital-efficient structures.
Policies are written on paper rated A+ by S&P and A1 by Moody’s, with cover of up to $100m per transaction. The programme has an expected life in the mid-single-digit years, with a longer legal final tenor. Coverage attaches to debt tranches ranking above the equity or first-loss position.
The programme is available across North America, the UK, Western Europe and selected other developed markets.
ARC specialises in credit insurance for leveraged finance, helping financial institutions and investors manage default risk, improve capital deployment flexibility and support loan syndications. The new programme extends its underwriting approach from single-name exposures to institutions seeking protection across broader credit portfolios.
ARC founder and CEO Andrew Shapiro said, “Since 2020, we’ve built one of the leading non-payment insurance platforms in leveraged finance. Portfolio Credit is a natural extension of that underwriting discipline.
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