LimitFi
Credit insurance MGA deploying insurance capital into private and illiquid credit markets for banks and lenders.
Overview
LimitFi is a credit insurance MGA and managing general underwriter that sources, underwrites, and manages credit exposure on behalf of a panel of insurers and reinsurers. Founded in 2021 by Adam Budnick and Zach Smith, the firm targets banks and lenders seeking capital relief, risk reduction, or efficient distribution of credit risk through insurance structures.
The company works with a panel of 20+ insurer and reinsurer partners, including Lloyd's syndicates, to provide AA- and A-rated insurance protection. LimitFi obtained Lloyd's coverholder status in March 2024 and operates under a quota-share reinsurance treaty that was renewed in July 2024. Its capacity is deployed into private, illiquid, and underserved credit markets that institutional capital markets do not readily serve.
With a portfolio exceeding USD 4 billion and more than 150 completed transactions across corporate credit, consumer finance, commercial finance, and real asset classes, LimitFi serves 30+ banks and financial institution clients as insured counterparties.
Products & Services
Portfolio Credit Risk Transfer
Structured credit insurance for multiple-asset collateralized exposures including lender finance, NAV and private fund finance, borrowing base facilities, and securitized products.
Key Features
- Synthetic securitization structures
- Capital structure flexibility
- Exposure to a broad range of asset classes
Target Users: Banks and lenders managing portfolio-level credit exposure seeking capital relief or regulatory capital optimization.
Distribution: Direct to banks and financial institutions
Single-Name Transactions
Credit insurance for direct financings, leveraged loans, and project finance for unique assets or obligors, typically ranging from USD 10M to over USD 100M per transaction.
Key Features
- Bespoke risk-transfer structures
- Transaction sizes from USD 10M to USD 100M+
- Coverage of private and illiquid credit assets
Target Users: Banks, credit funds, and lenders with concentrated single-obligor exposure.
Distribution: Direct to institutional clients
Risk Transfer Mechanisms
Insurance solutions for loan pools seeking synthetic securitization exposure and capital structure flexibility.
Key Features
- Loan pool risk transfer
- Synthetic exposure structures
- Reinsurance treaty participation
Target Users: Lenders and asset managers seeking off-balance-sheet credit risk transfer.
Distribution: Direct to financial institution clients