Applied Credit Underwriters, a recently formed division of insurance underwriter United Risk, has hired Crispin Hodges as its head of political risk.

Hodges left his role as head of trade political risk at Canopius Group in September following five years at the company. Prior to this, he served at insurance firm Beazley for 11 years, moving from underwriter to senior executive officer and finally spending nearly two years as international business producer.

Hodges joins the Applied Credit Underwriters executive committee alongside head of credit Christophe Meurier, hired in July, who was previously WTW’s CEO of financial solutions until 2022. Both report directly CEO Bernie de Haldevang. Hodges remains based in London.

Hodges tells GTR his main priorities in the new role will be “to support specialist brokers in the political and credit arena while endeavouring to encourage new clients to join the market either for balance sheet protection, plain risk mitigation or for assisting with regard to risk weighted capital application”.

Applied Credit Underwriters was launched by United Risk in March to target the credit and political risk markets.

“We have attracted these lines of business, especially lately with the world’s great problems in so many affected areas of high-level risk – it has now made great business sense to consolidate powerful resources for serving the top clients in the sector,” CEO of United Risk Dan Malloy said at the time.