London-headquartered insurer Neon continues to expand its political and credit risk team with a string of hires.

Paul Barrett (pictured) has joined from Arthur J Gallagher as an underwriter. He is the third in a recent spate of hires, joining Anthony Vaughan, senior credit analyst, and Paul Carrington, underwriter, both of whom joined in late 2017.

Carrington previously worked at Chubb and Euler Hermes, while Vaughan was previously senior credit analyst at SMBC and brings 15 years’ experience in banking and credit.

In addition to the new hires, Neon’s political and credit risk team has broadened its offering to include financial guarantee and increased tenors for existing products.

“Last year, we significantly strengthened our capabilities and this momentum has continued into 2018,” says Darren Lednor, chief underwriting officer at Neon. “Our expanded team now offers a greater breadth of coverage with the addition of financial guarantee and increased tenor length across a number of products. These changes allow us to provide long-term support to clients in a constantly evolving global political and economic environment.”

Neon’s political and credit risk team is able to review insurance and reinsurance risks from all industries and sectors, with a focus on oil and gas, infrastructure projects, telecommunications, power, pharmaceuticals and aviation.

The team writes a broad portfolio of trade finance and investment risk with tenors ranging from one month to 15 years, covering both commercial and sovereign obligors and perils.