Welcome to the February 2022 issue of Credit Management News Digest. This issue is sponsored by AIG.

PLUS: Trade credit buyers require certainty of cover if they are to benefit from an uptick in economic activityBy Christian Vollbehr, Head of Trade Credit Europe, Multinational & Strategic Accounts, AIG
UK Late Payment, Business Distress & Insolvencies
Latest data from the UK's Insolvency Service indicates that 32.9 per 10,000 active companies entered liquidation in 2021. This was an increase from the 29.4 per 10,000 active companies that entered liquidation in 2020 but lower than the 41.9 per 10,000 in 2019. Increases in insolvencies were seen across most industries in 2021 compared to 2020, and several sectors showed increases above the overall annual increase of 11%, including professional, scientific and technical activities (up 35%) and construction (up 25%). The data also indicates that in Q4 2021, there were 4,627 registered company insolvencies (4,175 of which were creditors' voluntary liquidations) — 18% higher than in Q3 2021 and 51% higher than in Q4 2020. To read the Insolvency Services' news release go to https://www.gov.uk/government/statistics/company-insolvency-statistics-october-to-december-2021/commentary-company-insolvency-statistics-october-to-december-2021.
Licensed under the terms of Open Government. Licence v3.0.
Three in five UK businesses are owed money from late payments. According to new research from Barclays surveying 500 small business owners, 58% of UK SMEs are currently waiting on late payments from customers. For medium-sized enterprises with 50 to 249 staff, those waiting on late payments rises to more than nine in ten (94%). Whilst customers and clients paying invoices late is no new challenge for businesses, 40% of SMEs say that they’ve been more likely to experience late payments as a result of the pandemic. The research also found that despite the Prompt Payment Code enabling businesses to claim late payment interest and compensation, only 23% had done so out of fear that this would result in not getting another job with the customer. To read Barclays' news release go to https://home.barclays/news/press-releases/2022/01/three-in-five-uk-businesses-are-owed-money-from-late-payments--f/.
Late payments increase as Scottish business optimism plunges. According to new research from the Federation of Small Businesses (FSB), a third of Scottish business owners say that late payment increased in the last three months of 2021, and 12% say late payment is now threatening the viability of their business. The FSB's confidence index for Scotland also dropped to -22.0 points from +1.2 points in the previous three months, meaning that more Scottish small firms now expect their performance to worsen over the coming three months than expect an improvement. By comparison, the UK index fell to -8.5 points at the end of last year. Furthermore, the vast majority of Scottish small businesses (82.5%) say costs are rising, with fuel, utilities and other input costs all cited. The latest government statistics show that there are an estimated 338,000 small businesses in Scotland — a figure which fell by nearly 20,000 in the first year of the pandemic alone. To read the FSB's news release go to https://www.fsb.org.uk/resources-page/fsb-late-payments-increase-as-scottish-business-optimism-plunges.html.
UK businesses are braced for an insolvency storm to hit home. Begbies Traynor's latest Red Flag Alert indicates that 589,168 UK businesses reported significant financial distress during the final quarter of 2021, a 5% rise compared to the previous three months. There was also a 106% rise in CCJs — a key early sign of future insolvencies as creditors are now actively using courts to recover debts. Ric Traynor, Executive Chairman of Begbies Traynor Group, noted that increasing business distress, combined with ongoing supply chain issues, a 30‐year record for inflation, and the recently published Government insolvency statistics (which highlighted a 33% rise in corporate insolvencies in December 2021 vs December 2019), suggest that 2022 looks set to be very difficult for many SMEs. To read Begbies Traynor's news release go to https://www.begbies-traynorgroup.com/news/business-health-statistics/businesses-braced-for-insolvency-storm-to-hit-home-as-pandemic-state-aid-and-protection-from-creditors-is-shut-off.
UK insolvency statistics increased by 11.2% in 2021 compared to 2020. The Insolvency Service's latest corporate insolvency statistics for England and Wales indicate that there were 14,048 corporate insolvencies in 2021 — an increase of 11.2% from 2021's figure of 12,634, but a fall of 18.2% on 2019's figure (17,166). The increase was driven by a rise in Creditor's Voluntary Liquidations (CVLs), which reached levels not seen since 2009. Colin Haig, President of R3 and Head of Restructuring at Azets, commented: "The increase this year — and the surge in CVLs in the final quarter of 2021 — suggests that many directors are opting to close their businesses as they lack confidence in their trading prospects in the current climate. And while insolvencies still haven't reached pre-pandemic levels, this is unlikely to remain the case for long." To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/31134/r3-responds-to-the-2021-insolvency-statistics/.
UK Economy
ONS: UK GDP in Q4 2021 should either reach or surpass its pre-COVID level. Latest data from the Office for National Statistics (ONS) estimates that UK GDP grew by 0.9% in November 2021 and was 0.7% its pre-COVID-19 pandemic level (February 2020). Services (0.7%), production (1.0%) and construction (3.5%) output all increased, with both services and construction output 1.3% above pre-COVID levels while production remained 2.6% below. Output in consumer-facing services grew by 0.8%, mainly because of a 1.4% increase in retail trade, while all other services rose by 0.6%. Consumer-facing services are still 5.0% below their pre-COVID levels, while all other services are 2.9% above. The ONS also advised that if there are no other data revisions, and provided its monthly December 2021 estimate does not fall by more than 0.2%, GDP for Q4 2021 will either reach or surpass its pre-COVID level. To read the ONS' news release go to  https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/november2021.
EY Item Club: The UK's growth forecast for 2022 is downgraded to 4.9% from 5.6%. Although the bounce back in the UK economy was stronger than expected last year, the EY ITEM Club’s Winter Forecast has downgraded its projections for UK GDP and now predicts growth of 4.9% in 2022, down from 5.6% in November’s Forecast. The EY ITEM Club's revisions are prompted by the Omicron variant's impact on activity at the start of 2022 and the squeeze on households' spending power from high inflation (expected to reach almost 7% this spring — significantly higher than the 5% peak expected in November's Autumn Forecast). However, the EY ITEM Club remains optimistic about the prospects for the UK economy and forecasts that growth will reach 2.7% in 2023, up from 2.3% in the previous forecast. GDP growth is then expected to settle at 1.8% in 2024 and 2025. To read EY's news release go to https://www.ey.com/en_uk/news/2022/02/omicron-and-household-finance-squeeze-lead-to-growth-downgrade-for-2022-in-new-ey-item-club-forecast.
PwC: The UK economy is likely to be roughly 1% to 2% above pre-COVID levels by the end of 2022. PwC's latest Economic Outlook expects the UK economy to have ended 2021 with an annual GDP growth rate of between 7.0% and 7.1% and, looking ahead, predicts that headline GDP growth in 2022 could be between 4.5% and 5.1%. This would mean that by the end of 2022, the UK economy is likely to be roughly 1% to 2% above pre-COVID levels. PwC then anticipates that UK GDP growth will slow down in 2023 as the economy returns to its pre-pandemic trend, with growth between 1.3% and 1.8% (depending on the two scenarios PwC explores). Then, from 2023 onwards, the pace of growth is projected to slow down further as base effects fall out of the annual figures. To read PwC's news release go to https://www.pwc.co.uk/services/economics/insights/uk-economic-outlook.html.
NIESR: An unchanged forecast forecasts GDP growth of 4.8% in 2022. The National Institute of Economic and Social Research (NIESR) latest Economic Outlook forecasts that GDP growth in 2022 will be largely unchanged from its Autumn Economic Outlook at 4.8%. This will be followed by a return to the UK's pre-COVID annual growth rate of well below 2% from 2023. NIESR advises that this equates to output being around 4% lower in 2025 than in its last pre-COVID forecast and £370 billion, or more than £5,500 per person, of activity lost over the past two years. NIESR has also raised its forecast for consumer price index inflation to a peak of 7% in the second quarter of 2022, 5% above the Bank of England's target. Inflation should fall below 5% by the end of 2022 and return to its 2% target in 2024. To read NIESR's news release, with a link to the full report, go to https://www.niesr.ac.uk/publications/powering-down-not-levelling-up?type=uk-economic-outlook.
KPMG: Scotland's economy to grow by 4.8% in 2022. According to a new analysis by KPMG, Scotland's GDP is expected to grow by 4.8% this year. With Omicron posing a milder setback than earlier strains, KPMG expects all regions and nations to reach their pre-COVID levels of output in line with the UK. Scotland's growth is then predicted to moderate and settle at more typical levels of 2% in 2023. According to KPMG's UK Regional Economic Outlook, Scotland's economy contracted by 9.7% over 2020, and in 2021 Q3 GDP was still 1.9% below its pre-pandemic level. However, momentum gathered at the end of 2021, with monthly data for October 2021 showing that GDP has improved to just 0.4% below its pre-pandemic level. To read KPMG's news release go to https://home.kpmg/uk/en/home/media/press-releases/2022/01/scotland-economy-to-grow-after-omicron-slowdown.html.
Euler Hermes: The UK economy in 2022: bouncing back amid many risks. In its latest annual economic outlook Euler Hermes predicts that UK GDP rebounded by 7.1% in 2021 and, looking ahead, forecasts that UK GDP will grow by 4.4% in 2022 and by a further 2.6% in 2023. In comparison, the EU's economy is expected to grow by 4.1% in 2022 and 2.3% in 2023. Less positively, Ana Boata, Global Head of Macroeconomic and Sector Research at Euler Hermes, commented that although global trade surged last year, the UK didn't enjoy the benefits — indeed, exports fell by 1.8% in 2021. In addition, UK insolvencies are rising, and Ana Boata expects to see around 20,540 UK insolvencies in 2022 — slightly below 2019 levels but "much higher than when government support was in full swing." To read Euler Hermes' news release go to https://www.eulerhermes.co.uk/resources/economic-insights/economic-research-updates/the-uk-economy-in-2022-bouncing-back-amid-many-risks.html.
IMF: The IMF cuts the UK's growth forecast to 4.7%. The IMF's latest update to its World Economic Outlook (WEO) has advised that as a result of disruptions related to Omicron and supply constraints, it has revised its predictions for UK growth in 2022 down by 0.3% to 4.7%. Although in the short-term this still puts the UK ahead of other advanced economies with the exception of Spain (5.8% growth predicted), in 2023 the UK's predicted 2.3% growth will be slower than the majority of advanced economies. The report also warns that the emergence of new COVID-19 variants could prolong the pandemic and induce renewed economic disruptions, while supply chain disruptions and energy price volatility mean high uncertainty around inflation. To read the IMF's WEO Update go to https://www.imf.org/en/Publications/WEO/Issues/2022/01/25/world-economic-outlook-update-january-2022.
The UK now ranks as the most important market for US business leaders. According to PwC's 25th Annual CEO Survey, the UK is now the number one market that US CEOs are looking to for growth. 37% of US CEOs identified the UK as one of the three countries or territories that are most important for their companies' revenue growth prospects over the next twelve months. This is a 16% increase from the previous survey and means the UK has now overtaken China (26%) — US company leaders' preferred target for the last two years. Germany follows at 24%. Likewise, the US has become a more attractive investment proposition to UK CEOs — over half (54%) see the US as an important growth target, up from 44% in both the previous two years. Germany came next for UK CEOs, at 32%. To read PwC's news release go to https://www.pwc.co.uk/press-room/press-releases/uk-now-ranks-the-most-important-market-for-us-business-leaders-pwcs-25th-annual-global-ceo-survey.html.
UK Retail Sector
A successful January for UK retailers. According to BDO's latest High Street Sales Tracker, total like-for-like sales, combined in-store and online, increased by +51.9% in January — albeit from a base of -10.0% for the equivalent month in 2021 when the UK was in full lockdown. Total non-store like-for-like sales decreased by 2.7%, which is only the second time that online sales have fallen since 2010 (when BDO began recording for that channel), however, this was from an extremely high base of +132.8% in January 2021. Total like-for-like sales saw substantial increases across all categories compared to January 2021, with the fashion sector seeing the biggest growth (total like-for-like sales increased by +74.2% for the month, from a base of -12.1% for the same time last year). This sector has maintained consistently strong growth throughout the Autumn and Winter months, and January marked its eleventh consecutive month of growth. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2022/news-from-bdo-hsst-january-2022.
UK retail vacancy rates stabilise. New research by the British Retail Consortium (BRC), has found that in the fourth quarter of 2021, the overall GB vacancy rate fell to 14.4%, 0.1% below the Q3 level but 0.7% higher than at the same point in 2020. Shopping Centre vacancies improved to 19.1%, a 0.3% improvement compared to Q3 but 2% higher than at the same point in 2020, while UK High Street vacancies improved slightly to 14.4% in Q4. Lucy Stainton, Director, Local Data Company, commented: "Vacancy rates are a strong barometer of the health of our high streets — with this in mind, it is very encouraging to see the increase in empty units finally stabilising after such a sharp rise over the past two years." To read the BRC's news release go to https://brc.org.uk/news/corporate-affairs/glimmer-of-hope-for-vacancy-rate/.
Retail sales fall below seasonal norms in January. According to the CBI's latest Distributive Trades Survey, UK retail sales in January were regarded as poor for the time of year for the first time since September 2021. Sales are also expected to remain below seasonal norms next month. The survey was conducted between 22 December and 18 January, when the UK was operating under tightened COVID restrictions amid the spread of the Omicron wave (notably including work from home guidance). Ben Jones, Lead Economist at the CBI, commented: "Even as cases fall and Omicron-related restrictions are rowed back, retailers will be looking to the year ahead with a degree of concern. The sector faces an inflation double whammy, as rising energy and transport costs erode households' spending power and retailers' own costs continue to mount." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/retail-sales-fall-below-seasonal-norms-in-january-cbi/.
UK retail footfall looks unlikely to return to pre-pandemic levels any time soon. According to BRC-Sensormatic IQ's latest data, total overall UK footfall decreased by 17.1% in January compared to January 2020, with a 1.5% improvement compared to December 2021. This is just above the 3-month average decline of 17.3%. Footfall on UK high Streets declined by 24.2% in January compared to the same period pre-pandemic, while retail parks saw footfall decrease by 13.0% (Yo2Y), and shopping Centre footfall declined by 37.5% (Yo2Y). Northern Ireland saw the shallowest footfall decline of all regions at -9.5%, followed by Scotland at -16.2% and Wales at -16.9%. England saw the deepest decline at -19.8%. To read the BRC's news release go to https://brc.org.uk/news/corporate-affairs/slow-start-to-2022/.
Global Economy 
The global economy enters 2022 in a weaker position than previously expected. The IMF's latest World Economic Outlook (WEO) Update finds that the new Omicron COVID-19 variant spreads, rising energy prices and supply disruptions resulting in higher and more broad-based inflation, and the ongoing retrenchment of China’s real estate sector and slower-than-expected recovery of private consumption, have limited global growth prospects. As a result, the IMF now expects global growth to moderate to 4.4% in 2022 — half a percentage point lower for 2022 than in its October WEO. Elevated inflation is also expected to persist for longer than envisioned in its October WEO, with ongoing supply chain disruptions and high energy prices continuing in 2022. To read the IMF's summary, with links to the full report and press briefing videos, go to https://www.imf.org/en/Publications/WEO/Issues/2022/01/25/world-economic-outlook-update-january-2022.
An intensification of the pandemic could lead to 1.6% lower world GDP growth by the end of 2023. Atradius' latest Global Economic Outlook warns that, although the recovery phase of the pandemic led to reasonable global economic growth of 5.8% in 2021 (which is likely to be followed by 4.2% growth in 2022 and 3.6% in 2023), an intensification of the pandemic could lead to 1.6% lower world GDP growth by the end of 2023. Supply chain disruptions and government restrictions are weighing on economic activity, leading to 3.8% and 2.3% GDP growth in advanced markets in 2022 and 2023, respectively, while emerging market economies are forecast to grow by 4.6% in 2022 and 4.8% in 2023. Atradius also suggests that the UK's economy is not as robust as headline figures suggest. Although UK GDP growth significantly surpassed that in the US and eurozone markets last year with 7.2% growth, this followed a much deeper recession in 2020. To read Atradius' news release go to https://group.atradius.com/publications/economic-research/global-economic-outlook-january-2022.html.
The Chinese economy is set to overtake the EU in 2022. According to base case projections in PwC's latest Global Economy Watch, global GDP growth is expected to increase by around 4.5% in market exchange rates in 2022 as global economies continue to grow, and are likely to remain resilient in the face of the Omicron variant. The outlook, however, remains highly uncertain. The US, EU and China will remain the world's largest economies for the foreseeable future, and PwC forecasts that 2022 will be the first year the Chinese economy overtakes the EU. PwC also expects global supply chain issues to ease in 2022, which will reduce inflationary pressures in the second half of the year. To read PwC's news release go to https://www.pwc.co.uk/press-room/press-releases/pwc-global-economy-watch-january-2022.html.
GDP grew by 0.3% in the euro area and by 0.4% in the EU in Q4. The latest estimate by Eurostat indicates that in the fourth quarter of 2021, GDP increased by 0.3% in the euro area and by 0.4% in the EU (+4.6% and +4.8%, respectively) compared with the same quarter in 2020. Among the Member States for which data is available for Q4, Spain (+2.0%) recorded the highest increase compared to the previous quarter, followed by Portugal (+1.6%) and Sweden (+1.4%). In contrast, declines were recorded in Austria (-2.2%), Germany (-0.7%) and in Latvia (-0.1%). The year on year growth rates were positive for all countries. To read Eurostat's news release go to https://ec.europa.eu/eurostat/documents/2995521/14231867/2-31012022-AP-EN.pdf/649f530f-8fdb-3a5e-00b2-a7b51c026ec6.
Credit Management News & Tools
How much compensation can you claim for unpaid invoices? The UK Small Business Commissioner's website contains a useful and easy to use calculator to allow UK businesses to calculate interest on an unpaid invoice by entering the invoice's due date and amount. For example, for an unpaid debt of £155 due on 31 December 2021, the amount owing as of 7 February 2022  (i.e. 38 days overdue) would be £196.52 (£1.52 in interest overdue, £40 in compensation). Compensation is £40 for invoices under £1000, £70 for invoices under £10,000 and £100 for invoices above £10,000. Compensation can be charged for each overdue invoice due from a debtor. To see the calculator go to https://www.smallbusinesscommissioner.gov.uk/deal-with-an-unpaid-invoice/how-to-chase-an-unpaid-invoice/interest-calculator/.
A useful tool to help kickstart global business travel. A service, openupforbusiness.com, provides businesses and individuals with free access to accurate and real-time information on virus restrictions so that they can plan their next business trip. An interactive allows viewers to see which COVID-19 restrictions apply to specific countries,  and includes information about area lockdowns, quarantine measures, flight restrictions, school closures, and links to more information. Users can also enter codes for their departure and destination airport to get an instant status of restrictions, safety, recommendations, etc. The data is continuously monitored and updated. To take a look go to https://openupforbusiness.com/.
Government support for UK businesses during the pandemic. Company Debt has created a free online resource to clarify and explain the government support currently available to UK businesses during the pandemic. This includes detailed information on the following:
  • Do you need more time to pay your taxes?
  • 100% business rates holiday.
  • Cash grants for the retail, hospitality and leisure sectors.
  • The Coronavirus Business Interruption Loan Scheme.
  • The COVID-19 Corporate Financing Facility for larger businesses.
  • Claim for wage costs with the Coronavirus Job Retention Scheme.
  • Deferred VAT payments due to Coronavirus.
  • Future Fund’ loans for innovation companies.
  • Can I liquidate a Company with a Bounce Back Loan?
Events & Professional Development
GTR MENA 2022, 15-16 February, Dubai.
GTR MENA 2022 will return to Dubai on February 15-16, 2022 for an exclusive two-day physical gathering. This will include an extensive programme, full exhibition and that much missed opportunity for participants to network and connect with key experts, industry peers and potential clients.
For nearly 20 years GTR MENA has covered critical market insight and provided excellent networking opportunities with leading experts from the region. This in-person gathering promises a highly anticipated opportunity to connect with the key players and access to a full spectrum of companies involved in trade and exports in this exciting region.
Experts will dive into the most prominent discussion topics including the many challenges faced across the trade and export finance industry, the rapidly changing dynamics in a turbulent global economic landscape, the future of trade, and the opportunities available.

For more information about this event go to https://www.gtreview.com/events/mena/gtr-mena-2022/. Credit Insurance News readers can receive 15% off any pass to this event with code: PARTNER15.

We also have 20 complementary corporate rate passes available to Credit Insurance News readers who are exporters, importers, manufacturers, distributors, traders, and producers of physical goods. To apply, please email Sally (sally.brown@creditinsurancenews.co.uk) with your full details (full name, job title, organisation, email, country, and phone number) and we will pass on your details for approval.
ICISA Surety Week 2022. 21-25 February 2022. Online
The International Credit Insurance & Surety Association (ICISA) will be hosting the first edition of “ICISA Surety Week” between 21 – 25 February 2022. ICISA Surety Week is a global event aimed at increasing awareness of the valuable economic role of the Surety sector. During the inaugural ICISA Surety Week, industry experts will share their views about key developments and emerging challenges within the industry, as well as discuss the wider role surety plays in society.
The full program of Surety Week and the list of speakers confirmed so far can be seen in the General Programme.
Please note that the live events will be recorded and shared with the registrants after the Surety Week. We therefore recommend you to register for any activity you're interested in, regardless of your availability at the date and time of the live event.
To register, click here.
For any questions about the ICISA Surety Week 2022 please get in touch with Raluca Ezaru: raluca.ezaru@icisa.org.
TXF Americas 2022: Structured Trade & Export Finance 
 HYBRID EVENT: MIAMI & ONLINE (Conducted in English), 8-9 March 2022.   It's been away for far too long TXF Americas 2022: Structured Trade & Export Finance is back in-person and returns in all it's glory to sunny Miami for the first time in over 2 years on 8-9 March, and this time with a hybrid element.
We will continue to innovate in the virtual space, using the wonderful world of hybrid events to offer guests unlimited access to online content and networking. Deal makers from across the globe are already lining up to save their spot. 

Topics up for debate include:
  • ESGs and Energy transition - moving forward 
  • Evolution of ECA products in the region - increasing flexibility and innovation 
  • Identifying who's filling the finance gap (DFIs, ECAs, Alternative Financiers) - availability of new financing products 
  • Updates on recovery focused programmes in key LatAm Countries. 
Whilst we are so excited to return in person, the safety of our guests remains paramount. Please rest assured that we will monitor the global situation as it changes and respond with appropriate measures.

Two types of participation are available for TXF hybrid events:
1. Physical Event Ticket
  • Get your feet on the ground to come together with key clients, colleagues and industry experts. Your ticket will also include:
  • Additional networking features such as the poolside cocktail reception Access to the virtual event platform – reach out to virtual-only attendees and watch all sessions on-demand if you miss them 
  • Networking concierge service – allow us to do the leg work and introduce you to new potential clients 
2. Virtual Ticket/ On-Demand (Available TXF events 365 Members Only)
From the comfort of your desk watch all sessions live or on-demand as well as use our ‘Search the Guest List’ feature to reach out to other virtual attendees and those joining the physical event in-person. 
To find out more about joining virtually as part of a TXF Membership, please email membership@txfmedia.com.

Annual Receivables Finance International Convention, 9-10 March. London/Hybrid 
Join BCR Publishing for their 22nd Annual Receivables Finance International Convention. 
RFIx’22 will be held in London at the offices of Clifford Chance and will bring together in person, senior receivables finance executives from around the world, with live streaming also available.
BCR will be also holding its 4th Annual Receivables Finance International Awards on 9 March 2022, on the evening of the first day of RFIx’22.
Book your place for RFIx’22 and help define the future of working capital finance: https://bcrpub.com/events/rfix-receivables-finance-international-convention-2022. Use the Early Bird rate before 4 February to receive £200 off the full price.
To apply for free to receive RFIx22 Award, download your info pack today: https://bcrpub.com/awards/rfix22-awards-and-gala-dinner.
GTR Africa, 10-11 March 2022. Cape Town.
GTR Africa is returning to Cape Town, South Africa on March 10-11, 2022 as we once again provide a one of a kind event for the trade and export finance community.
Long recognised as the leading industry event for Sub-Saharan Africa, we’re hugely excited to bring the region’s trade, commodity and export finance community together once again for a much-anticipated return to in-person discussion and networking. 
Offering unrivalled insights into the latest trends and developments impacting African trade, export and infrastructure financing through an extensive programme of expert speakers and interactive discussion, the event will include a full exhibition and provide the invaluable opportunity for participants to network and connect with industry leaders, peers and potential clients. 
We look forward to welcoming you back! 

For more information about this event go to https://www.gtreview.com/events/africa/gtr-africa-2022/. Credit Insurance News readers can receive 15% off any pass to this event with code: PARTNER15. 

We also have 20 complementary corporate rate passes available to Credit Insurance News readers who are exporters, importers, manufacturers, distributors, traders, and producers of physical goods. To apply, please email Sally (sally.brown@creditinsurancenews.co.uk) with your full details (full name, job title, organisation, email, country, and phone number) and we will pass on your details for approval.
World Trade Symposium, 31 March. London.
The past 18 months have seen the rules on global trade rewritten. The profound digital transformation that was already underway has accelerated, slashing costs and reforging supply chains - with innovative shippers, banks, trading blocs, and fintechs leading the way.
As a result, all governments, businesses, and trade practitioners now face the urgent task of understanding the technology trends and practical and policy challenges involved in grasping the opportunity of digital trade.
Alongside this, policymakers and non-governmental organisations forecast that digital technologies and standards will open trade to millions more small and micro-enterprises across the world, cementing a new path to global prosperity.
Digital tracking and provenance solutions could also boost sustainability and help reduce carbon emissions.
These "tech-tonic" shifts are a significant opportunity for all stakeholders in trade, but many obstacles still need to be overcome.
The World Trade Symposium 2022 will bring together top executives and leading global policymakers for a day of rigorous discussion and debate on these critical issues.
The event will reassess the new "trade lines" created by the pandemic, explore the scope and impact of digital trade technologies and evaluate the opportunities and challenges ahead.
For more information and to book tickets go to https://www.tradefinanceglobal.com/conferences/world-trade-symposium-03-2022/.
TXF Global 2022: Export, Agency & Project Finance
HYBRID EVENT: LISBON & ONLINE, 7-8 June 2022. Lisbon, Portugal.
TXF Global Export is back for 2022 and this time, *drumroll*... we're taking the global export roadshow to Lisbon!
Join us on the 7th & 8th June 2022 for another unmissable hybrid event. Deal makers from across the globe are already lining up to save their spot. Topics up for debate include:
  • Financing the goals of COP 26
  • Mega borrowers of the future
  • Mega borrowers of the future
  • Guardians of Export Credit - The Government perspective
  • The Green ECA CEO panel
Two types of participation are available for TXF hybrid events:
Two types of participation are available for TXF hybrid events:
1. Physical Event Ticket
  • Get your feet on the ground to come together with key clients, colleagues and industry experts. Your ticket will also include:
  • Additional networking features such as the poolside cocktail reception Access to the virtual event platform – reach out to virtual-only attendees and watch all sessions on-demand if you miss them 
  • Networking concierge service – allow us to do the leg work and introduce you to new potential clients 
2. Virtual Ticket/ On-Demand (Available TXF events 365 Members Only)
From the comfort of your desk watch all sessions live or on-demand as well as use our ‘Search the Guest List’ feature to reach out to other virtual attendees and those joining the physical event in-person. 
To find out more about joining virtually as part of a TXF Membership, please email membership@txfmedia.com. email membership@txfmedia.com.
Stecis is getting back on track with Webinars, Classroom courses and Masterclasses.
As we all hope that the Covid-19 pandemic is under control after the summer, STECIS has planned again a number of classroom courses in November 2021. For Trade Credit Insurance and Surety Bonds, at each Foundation and Advanced courses will be offered in the vicinity of Amsterdam Schiphol. In case still necessary, all applicable Covid-19 restrictions will be in place during the classroom training courses. During the classroom trainings real, practical cases will be discussed. Additionally, various webinars on both Trade Credit Insurance and Surety Bonds have been already scheduled throughout the year. These webinars are interesting to all individuals who are starting their career in the TCI and/or Surety Bonds industry, but also for all other interested parties like brokers, re-insurers´ employees, lawyers, credit managers etc.
To expand our offering STECIS is currently developing three masterclasses on Trade Credit Insurance that will address the following topics: TCI and Digitalisation, Non-traditional TCI products and TCI and Finance. These masterclasses will be hold by top experts from the TCI industry presenting the recent developments and trends in the field of TCI. Joining these masterclass will be not only be an excellent way to keep up to date with important developments in the TCI world. The courses are also an excellent means to increase your professional network as you will meet other participants and top experts from the industry.
When the outlines of the three masterclasses are available, they will be shared via Credit Insurance News and the website of Stecis.
More information can be found on the Stecis’ website: www.stecis.org.
All courses will run at the Steigenberger Hotel at Amsterdam-Schiphol.
Further information can be obtained by sending an email to: info@stecis.org.

About the Sponsor: AIG
An Experienced Partner for All Economic Cycles
American International Group (AIG) is a leading global insurance organisation. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. Within the Trade Credit and Trade Finance markets, our specialist teams create flexible insurance solutions that strengthen economic resilience and enable capital efficiency for clients.

Trade Credit Insurance
In an uncertain world, where economic downturns and shocks are a continuous threat, businesses are justified in taking a cautious approach to growth. Trade Credit insurance from AIG can help transfer the risk of bad debts, allowing our clients to trade and grow with confidence.

What Makes AIG Different?
Contract Certainty. Unlike others in the Trade Credit market, our policies can be written on a non-cancellable basis. 
Credit management. Our system is included as part of our Middle Market non-cancellable product reducing policy administration whilst providing contract certainty. 
Responsive Underwriting. Our underwriters hold high levels of dual authority enabling them to write both the policy terms and structure the risk decisions, making it easy to do business with AIG. 
Multinational Solutions. Our specialist multinational team offers local and global solutions for multinational clients throughout the world.

Please contact Sharon Giddings and the Trade Credit team at sharon.giddings@aig.com for AIG’s trade credit products.
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