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CONTRACT FRUSTRATION
US$92.5 million - Sovereign Entity
(United Kingdom)
Underwriter(s) - Not Communicated
Insurance Broker - Cofarco SAS
March 2016
Cofarco bound a contract frustration insurance policy to cover an oil merchant against the non-honouring of sovereign financial obligations as part of an oil contract.
Cofarco SAS is regulated as insurance broker by the Autorité de Controle Prudentiel et de Regulation (ACPR, www.acpr-banque-france.fr) and conducts business throughout the European Union under
Directive 2009/138/EC as notified to DFSA - Finanstilsynet (Denmark), DIHK - Deutscher Industrie und Hendelskammertag e.v. (Germany), Commissariat aux Assurances (Luxembourg), AFM - Autoriteit Financiele
Merkten (Netherlands), Polish Financial Supervision Authority (Poland) and DGSFP - Direccion General de Seguros y Fondos de Pensiones (Spain).
Cofarco SAS is registered with FINMA in Switzerland under firm number 3304.
Cofarco SAS is an accredited Insurance Intermediary of Lloyd’s of London under firm pseudonym/number
COF/1718.
Cofarco SAS is regulated as insurance broker by the Autorité de Controle Prudentiel et de Regulation (ACPR, www.acpr-banque-france.fr) and conducts business throughout the European Union under
Directive 2009/138/EC as notified to DFSA - Finanstilsynet (Denmark), DIHK - Deutscher Industrie und Hendelskammertag e.v. (Germany), Commissariat aux Assurances (Luxembourg), AFM - Autoriteit Financiele
Merkten (Netherlands), Polish Financial Supervision Authority (Poland) and DGSFP - Direccion General de Seguros y Fondos de Pensiones (Spain).
Cofarco SAS is registered with FINMA in Switzerland under firm number 3304.
Cofarco SAS is an accredited Insurance Intermediary of Lloyd’s of London under firm pseudonym/number
COF/1718.