Welcome to the June 2023 issue of Credit Management News Digest. 
This month's issue is sponsored by AIG.

Index
 
Credit Insurance News Digest
UK Late Payment & Insolvencies
UK SMEs worry over late payments and access to credit. New research from Premium Credit indicates that up to 28% of UK firms say late payment problems have worsened in the past year, with 7% saying the issue has become much worse. Just 3% say the issue has eased. These figures are more severe than when than when Premium Credit's Insurance Index, which monitors insurance buying and how it is financed, reported on the issue last year. Research then found that 24% of SMEs said payment delays had worsened in the previous 12 months, with 5% saying they had become much worse. In addition, 17% of UK firms said that this year they have struggled to access credit since the cost of living crisis hit, compared to 13% who reported problems in last year's Insurance Index. To read Premium Credit's news release go to https://www.premiumcredit.com/news-and-events/smes-worry-over-late-payments-and-access-to-credit.
The value of the average single bad debt has risen 61% in a year. Bibby Financial Services (BFS) latest SME Confidence Tracker findings highlight the extent to which customers are delaying payment. Overall, 60% of Bibby's respondents say it's taking longer for customers to pay their invoices in full compared to a year ago and, on average, 18% of invoices raised over the past six months have been paid late. Those awaiting payment say they have an average of £68,413 outstanding in unpaid invoices. BFS notes, "The obvious risk here is that late payments become unrecoverable, which in turn could pave the way for a swathe of business failures." Though the number of businesses suffering bad debt has not increased, the specific amounts being written off have risen sharply. In Spring 2022, the average single bad debt was £10,329, but it now stands at £16,641 — an increase of 61% in a year. To read BFS's SME Confidence Tracker go to https://www.bibbyfinancialservices.com/knowledge-hub/reports/2023/sme-confidence-tracker.
UK insolvencies and liquidations reach their highest level for a decade. But where are they headed? D&B has reported that there were 6,862 UK insolvencies and liquidations in the last quarter of 2022 — the highest quarterly numbers reported for over a decade. D&B notes that it is difficult to determine whether insolvencies have now peaked. However, it states that one of the most common precursors to a business failing is its inability to meet debt obligations (more than 90% of businesses that fail exhibit a slow-down in payment to their suppliers six months before failure, according to Howard Trenam, Global Lead at Dun & Bradstreet). Looking at trade payment performance over the past four years, the percentage of payments overdue by three months or more increased from around 6% to almost double at 11.3% in Q2 2022 before softening towards the end of the year at 10.5%. To read D&B's news release go to https://www.dnb.co.uk/perspectives/finance-credit-risk/surviving-the-next-insolvency-wave.html.
UK corporate insolvencies in April were 18.2% higher than pre-pandemic levels. Latest data from the Office for National Statistics (ONS) indicates that UK corporate insolvencies decreased by 31.8% in April 2023 to a total of 1,685 compared to March's total of 2,471, and decreased by 15.2% compared to April 2022's figure of 1,988. However, corporate insolvencies were 82.2% higher than in April 2021 and 18.2% higher than pre-pandemic levels in April 2019. Nicky Fisher, President of R3, commented: "Despite the monthly fall in corporate insolvency figures, total numbers are still above pre-pandemic levels, and the key reason for this is that Creditors' Voluntary Liquidations are higher than they were in 2019. After three years of disturbed trading and a choppy economy, it's clear that directors have simply had enough or have realised the time is right to shut down their business while the choice is still theirs to make." To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/31634/page/1//.
UK company insolvencies in 2022 increased by 37% compared to 2021. New data from Creditsafe has found that 2,587 companies in the UK became insolvent in April 2023 — a decrease of 15% compared to the previous month but an increase of 14% compared to the same month in 2022. 17% of insolvencies came from within the UK construction sector. According to Creditsafe, this brings the total number of UK company insolvencies for 2023 to 9,698 — a 12% increase compared to the same period in 2022 and a 31% increase compared to 2021. Year-to-date, Construction accounts for 17% of all company insolvencies in 2023, while the Wholesale and Retail and Accommodation and Food Services sectors combined represented 26% of all insolvencies. To read Creditsafe's news release go to https://www.creditsafe.com/gb/en/blog/reports/insolvencies.html.
UK company insolvencies in 2022 were predominantly micro-companies. Coface's latest Economic Publication notes that, although UK corporate insolvencies in 2022 rose from their pandemic lows to the highest level (23,400) in a decade — 26% higher than in 2019, this increase was centralised around smaller companies and driven by creditor's voluntary liquidations. Therefore, while, in absolute numbers, corporate insolvencies were high in 2022, compared to the number of active companies in the UK this figure was still low compared with past decades. Moreover, insolvencies in 2022 were predominantly micro-companies, whereas insolvencies in larger companies were still below their 2019 level. For 2023, indications suggest that insolvencies are continuing to rise. However, unlike in 2022, this will not be as heavily concentrated around micro and small companies. To read Coface's news release go to https://www.coface.uk/News-and-Publications/Publications/United-Kingdom-Corporate-insolvencies-are-going-from-zero-to-a-hundred-after-end-of-government-support-measures.
UK Economy & Exports
UK GDP grew by 0.2% in April 2023, after a fall of 0.3% in March 2023. The Office for National Statistics (ONS) latest data estimates that UK GDP grew by 0.2% in April 2023, after a fall of 0.3% in March 2023, and grew by 0.1% in the three months to April 2023. The services sector grew by 0.3% in April 2023 (following a 0.5% fall in March 2023) and was the main contributor to the growth. However, its growth was slightly offset by falls in both production and construction: Production output fell by 0.3% in April 2023 (after growth of 0.7% in March 2023), and the construction sector fell by 0.6% in April 2023 (following growth of 0.2% in March 2023). Monthly GDP is now estimated to be 0.3% above pre-COVID levels (February 2020). To read the ONS' news release go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/april2023.
The UK economy looks set to avoid a recession. According to the CBI's latest Economic Forecast, the UK economy looks to have fared better than expected in the first half of 2023 and is set to steer clear of a recession. The CBI is forecasting 0.4% growth in GDP in 2023, picking up to 1.8% in 2024 (upgraded from -0.4% and 1.6% growth, respectively). Tailwinds to growth have strengthened since the CBI's previous forecast in December 2022: the global outlook has improved, and wholesale energy prices have fallen. However, whilst the CBI believes the UK will avoid a recession, it cautions that 2023 will still mark a challenging year for business. Furthermore, the CBI’s forecast also suggests that the UK’s GDP is persistently "scarred" from the COVID-19 pandemic and will be around 7% smaller at the end of next year compared to its pre-COVID trend. To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/uk-economy-set-to-grow-and-business-investment-to-rise-following-brush-with-recession-cbi-economic-forecast/.
The UK Economy is beset by sluggish growth and high inflation. The National Institute of Social and Economic Research's (NIESR) latest UK Economic Outlook indicates that, although the UK economy is still facing the problems of sluggish growth and high inflation, the outlook has improved a little. Consequently, a recession in 2023 now looks less likely. NIESR expects that GDP grew by 0.1% in the first quarter of 2023 and anticipates growth of 0.3% in the second quarter of 2023. Looking further ahead, NIESR expects sluggish growth in 2023 and 2024 of 0.3 and 0.6%, respectively. However, while NIESR expects the UK to avoid a 'technical' recession in 2023, it stresses that it may feel like one. CPI inflation is expected to fall only to 5.4% by the end of 2023 and not reach the Bank of England’s target of 2% until the third quarter of 2025. To read NIESR's news release go to https://www.niesr.ac.uk/publications/uk-economy-sluggish-growth-high-inflation?type=uk-economic-outlook.
Despite an upgrade to GDP, the UK economy is flatlining. The British Chambers of Commerce's (BCC) latest Quarterly Economic Forecast has advised that the UK economy remains on course to avoid a technical recession this year. A growth rate of 0.3% is expected for the whole of 2023, rising slightly to 0.6% in 2024 and 1.0% in 2025. This is an upwards revision from the BCC's previous Q1 forecast of -0.3% growth. In addition, evidence from recent BCC business surveys also showed that export activity fell back at the end of 2022 as global supply chain crises and trade barriers with the EU disproportionately impacted smaller exporters. Exports are likely to decline by 4.7% across 2023, a downward revision from the previous forecast. To read the BCC's news release go to https://www.britishchambers.org.uk/news/2023/06/bcc-economic-forecast-upgrade-to-gdp-but-uk-economy-flatlining.
Supply chain challenges continue to hold back UK business growth. Continued supply chain pressures outrank both workforce challenges and increasing business costs as a main concern for over a third (36%) of UK mid-sized businesses, according to the latest research from BDO. The bi-monthly survey reveals 77% of UK businesses are facing persistent disruptions within the supply chain. Faced with these prolonged pressures, 49.8% say they will focus on onshoring as much of their operations as possible in the next 12 months — suggesting an urgency to reduce reliance on imported goods and overseas suppliers. 24% of businesses say their supply chain strategy aims to reduce the impact of global geopolitical events on their business, whilst the same number wish to avoid complex post-Brexit customs regulation. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2023/supply-chain-challenges-continue-to-hold-back-business-growth.
Eight in ten small businesses cite barriers to growth as fears over market uncertainty rise sharply. According to the latest small business growth research from Novuna Business Finance, the last year has seen a rise in the number of UK small business owners who say their business is adversely affected by ongoing market uncertainty and rising overheads. With the percentage of small businesses predicting growth remaining static at around 33% for the third consecutive quarter, Novuna's study highlights the range of challenges that small businesses face to stay afloat. Overall, 80% of small business owners cited market factors that were holding back their enterprises, and 22% claim to be uncertain about the future of their business (a rise from 16% to 22% since June 2022). To read Novuna's news release go to https://www.novuna.co.uk/news-and-insights/business-finance/eight-in-ten-small-businesses-cite-barriers-to-growth-as-fears-over-market-uncertainty-rise-sharply/.
The UK remains Europe's most attractive destination for financial services investment. The UK continues to be Europe’s most attractive location for foreign direct investment (FDI) into financial services, according to EY's latest Attractiveness Survey for Financial Services. The UK attracted 76 financial services projects in 2022 — an increase of 13 projects from 2021 — and has extended its lead over second-placed France, which secured 45 projects in 2022 — 15 fewer than in 2021. Germany and Spain tied in third place. The UK is now home to more than a quarter of all European financial services FDI projects, having boosted its market share from 23% in 2021 to 26% in 2022. By comparison, France secured 15% of Europe's financial services FDI projects, and both Germany and Spain each secured 11%. To read EY's news release go to https://www.ey.com/en_uk/news/2023/06/uk-remains-europes-most-attractive-destination-for-financial-services-investment.
The UK High Street records negative sales for the first time in over two years as the cost of living bites. According to BDO's latest High Street Sales Tracker, negative retail sales across May marked the end of 26 months of positive results. Total like-for-like (LFL) sales, in-store and online combined, fell by -1.5% compared to May 2022. Total in-store sales grew by +1.0% across the month, while online sales fell by -3.3%. Sophie Michael, Head of Retail and Wholesale at BDO LLP, said: "Retailers are not just competing with each other, but also with the hospitality and leisure sectors for every pound of discretionary spending. The drop in online sales is also stark, recording the worst online sales results on record with the exception of the months impacted by the COVID-19 pandemic." To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2023/high-street-records-negative-sales-for-the-first-time-in-over-two-years-as-the-cost-of-living-bites.
Incorporated companies in the UK: January to March 2023. Companies House has published the latest data on the number and activity of incorporated companies in the UK as well as company dissolutions. Primary findings include: 
  • At the end of March 2023, there were 5,116,743 companies on the total register and 4,645,402 on the effective register.
  • During the period January to March 2023, the total register increased by 63,462 companies (1.3%), and the effective register increased by 69,926 companies (1.5%).
  • Between January and March 2023, there were 222,068 incorporations and 163,797 dissolutions in the UK.
  • The number of incorporations between January and March 2023 increased by 16,897 (8.2%) compared with the same period in 2022.
  • The number of dissolutions between January and March 2023 increased by 12,987 (8.6%) compared with the same period in 2022.
  • The number of companies in the course of removal from January to March 2023 increased by 71,214 (24.2%) compared with January to March 2022.
To read Companies House's news release go to https://www.gov.uk/government/statistics/incorporated-companies-in-the-united-kingdom-january-to-march-2023/incorporated-companies-in-the-united-kingdom-january-to-march-2023.
Global: Late Payment
Chasing late payments costs European businesses €275 billion a year and takes the average firm 74 days to resolve. Intrum's 2023 European Payment Report has found that European businesses spend 29% of the working year chasing late payments, equivalent to 74 days. Its findings show the time spent chasing late payments by European businesses adds up to a cost of €275 billion to the European economy — more than the entire GDP of Finland. Across Europe, businesses in Finland are also impacted by some of the worst delays, with 51% of businesses spending at least 10 hours every week chasing late payments. France (49%) is the second worst impacted, followed by Poland (47%), Germany (47%), and Greece (46%). To read Intrum's news release go to https://www.intrum.com/press/press-releases/press-release-article/?id=A28DED0AC0BDAA5B#Chasing_late_payments_costs_European_businesses_275bn_a_year_and_takes_the_average_firm_74_days_to_resolve.
Companies in Western Europe report an average 20% increase in the volume of late payments during the past 12 months. Atradius' 2023 Payment Practices Barometer for Western Europe has reported an average 20% increase in the volume of late payments during the past 12 months. Payment delays now affect an average of 49% of all B2B sales transacted on credit, and companies are waiting an average of one week longer than last year to be paid. To minimise the damage caused by late payments, companies in Western Europe told Atradius they put a greater focus on credit management. In-house retention and management of trade credit risk was the preferred option for 68% of companies polled in Western Europe, but Atradius' survey also found an increasing appetite for a more strategic approach to credit management. 54% of companies said they used credit insurance — a 15% rise from last year. To read Atradius' report go to https://group.atradius.com/publications/payment-practices-barometer/b2b-payment-practices-trends-western-europe-2023.html.
40% of exporters fear a rise in non-payment risk in 2023. Allianz's Trade's 2023 Global Survey indicates that, although exporters in the seven countries assessed (US, UK, Germany, France, Italy, Spain and Poland) remain cautiously optimistic, compared to its 2022 Survey more respondents expect the length of export payment terms to increase (42% vs 31%) — with the share this year reaching levels close to 50% in both the US and the UK. The number of respondents expecting an uptick in export non-payment risk has also increased compared to Allianz Trade's 2022 survey, rising by 11% to 40% overall. The increase is widespread across countries but especially visible in the UK and Germany (both +16%). Roughly 70% of corporates currently expect business turnover generated through exports to increase in 2023 (compared to nearly 80% in the 2022 edition and 94% before the war in Ukraine). To read Allianz Trade's press release with a link to the full report go to https://www.allianz-trade.com/en_global/news-insights/news/2023-Global-Survey.html.
Companies in China report shorter payment delays (but longer payment terms) in 2022. A new Coface survey shows that the number of companies in China experiencing payment delays in 2022 fell from 53% in 2021 to 40% in 2022. In addition, after a significant rise in ultra-long payment delays in 2021 (with 64% of respondents reporting such delays), the proportion fell to 36% — the lowest since 2016. However, average payment terms in China increased from 77 days in 2021 to 81 days in 2022 as a consequence of COVID lockdowns. As Bernard Aw, Chief Economist for Asia Pacific at Coface, said: "Chinese businesses had to be more flexible as their customers needed more time to make payments amid tight liquidity and mobility restrictions that disrupted payment processes. " To read Coface's news release with a link to the full report go to https://www.coface.com/News-Publications/News/Companies-in-China-report-shorter-payment-delays-in-2022-and-expect-higher-economic-growth-in-2023.
Global Economy
Global growth falters, with advanced economies likely to experience near-recession conditions. The National Institute of Social and Economic Research's (NIESR) latest Global Economic Outlook warns that the slowing in the pace of global economic growth is forecast to continue this year, with growth of 2.5% — slightly higher than its Winter forecast but the slowest (excepting the COVID-hit 2020) since 2009. The slowdown is most evident in advanced economies, some of which are likely to experience near-recession conditions. In the Winter Global Economic Outlook, NIESR forecasted global GDP growth in 2023 of 2.3% but with a somewhat stronger outlook for 2024 at 2.8%. Since then, lower energy prices and slightly stronger readings for economic activity have resulted in a stronger-than-forecast start to this year. But downside risks for activity, particularly in the US and the Euro Area, remain. To read NIESR's news release go to https://www.niesr.ac.uk/publications/global-growth-falters-inflation-reaches-peak?type=global-economic-outlook.
The global economic outlook is improving, albeit with a low growth recovery. The global economy has begun to improve, but the recovery will be weak, according to the OECD’s latest Economic Outlook. The Economic Outlook projects a moderation of global GDP growth from 3.3% in 2022 to 2.7% in 2023, followed by a pick-up to 2.9% in 2024. GDP growth in the US is projected to be 1.6% in 2023 before slowing to 1.0% in 2024 in response to tight monetary and financial conditions. In the euro area, GDP growth will pick up from 0.9% in 2023 to 1.5% in 2024. China is expected to see strong increases in GDP growth in 2023 (with 5.4%) and 2024 (with 5.1%). However, the OECD stresses that the upturn remains fragile and risks are tilted to the downside.
OECD (2023), 07/06/2023, Global economic outlook improving, albeit to a low growth recovery, OECD, https://www.oecd.org/newsroom/global-economic-outlook-improving-albeit-to-a-low-growth-recovery.htm.
Global growth to slow to 2.1% in 2023, with prospects clouded by financial risks. The World Bank's latest Global Economic Prospects report has advised that after growing 3.1% last year, the global economy is set to slow substantially in 2023, to 2.1%, amid continued monetary policy tightening to rein in high inflation. A tepid recovery, to 2.4% growth, will follow in 2024. Projections for many countries have been revised down over the forecast horizon, with upgrades primarily due to stronger-than-expected data at the beginning of 2023 more than offset by downgrades thereafter. Inflation has been persistent but is projected to decline gradually as demand weakens and commodity prices moderate. To read the World Bank's news release (with a link to the full report) go to https://www.worldbank.org/en/news/press-release/2023/06/06/global-economy-on-precarious-footing-amid-high-interest-rates?intcid=ecr_hp_headerL_en_ext.
The global economy's resilience is confirmed, but the outlook remains gloomy. Coface's latest Country and Sector Risk Barometer advises that figures for the beginning of this year for the major economies confirmed that the spectre of recession has receded for the time being (with the exception of Germany). It notes that there are several reasons for this. Firstly, Europe has managed to avoid disruption to its energy supplies. Secondly, resilience came from a surge in consumption in North America and China. Finally, emerging economies also confirmed their resilience. However, the economic outlook remains lacklustre for 2023 and beyond, particularly in the advanced economies; Coface's forecast (2.2% growth in 2023 and 2.3% growth in 2024) suggests that global growth is unlikely to rebound significantly. To read Coface's news release go to https://www.coface.com/News-Publications/News/Lost-illusions-and-great-expectations-in-our-latest-Country-and-sector-risks-Barometer.
New trends in country risks: AU G-Grade Q2 2023. AU Group has released its latest AU 'G-Grade' for Q2 2023. The AU 'G-Grade' is based on the individual assessment of a country by each of the four largest credit insurers (Atradius, Coface, Credendo and Allianz Trade) and is calculated according to the real risk taken by these major insurers collectively. Also, the IMF Statistics Department's seven key indicators give a view of the key trends and the level of risk per country. This issue's most notable downgrade is for Egypt (downgraded from 7.50 to 8.25), while both Angola ( 8.25 to 7.75) and Croatia (4.00 to 3.50) saw upgrades. As one of the countries most impacted by the war in Ukraine, Egypt is suffering from several combined factors: a drop in tourism, a rise in energy prices and a sharp increase in food prices because Egypt is a significant importer (especially wheat and corn). To see the latest G-Grade go to https://www.au-group.com/au-g-grade-q2-2023/.
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Events & Professional Development
TXF Global 2023: Export, Agency & Project Finance, 15-16 June. Lisbon, Portugal.
TXF Global 2023 returns to Lisbon for a very special 10 Year Anniversary edition!
Your largest export, agency & project finance event is returning to Lisbon for the second year running! We bring you this innovative, unique and ultimate networking gathering which is absolutely crucial if you work in this industry.
Let the festival commence! Expect:
  • Exclusive networking activities from the hugely popular Lisbon walking tour, to ice-breaker drinks & cocktail reception
  • ECA & DFI CEO hot seat: 1-1 fireside leadership interviews
  • Corporate CEO keynote: Navigating economic turmoil to enable a greener future
  • Tomorrow’s borrowers: The investment landscape & project pipeline
  • Dedicated Uxolo Development & Impact Finance content stream
  • TXF at 10: Legendary panelists from TXF Paris 2013 return to the stage to review the last 10 years of export finance and plot what this means for the next 10 years
  • Delegate list of all those on-site so you can arrange meetings in advance + 1-to-1 dedicated meeting spaces, and separately bookable meeting rooms
  • Even more time and space to network, attend private meetings and take part in intimate roundtables
  • TXF Subscriber Exclusive: Watch all sessions on-demand, or enjoy the full event virtual-only from the comfort of your office chair!
Speaking Opportunities: Contact Tom.Pycraft@txfmedia.com to express an interest in speaking at the 2023 event.
For more information go to https://www.txfnews.com/events/266/TXF-Global-2023-Export-Agency-Project-Finance.
Online Event: Intelligent Underwriting Assistance. 4 July 2023, 12:00 - 12:30 (CET).
Catching up with clients, assessing balance sheets and updating your risk analysis of buyers is time-consuming. You might have everything on E-mail or electronic folders, or you might use extensive Excel files to document your analysis, but the saved information is unstructured.
There is a better way! Stay ahead of your complex work as an underwriter, using purpose-built software that incorporates a modern user interface. Our new software product CAM Credit helps you to focus on the important risk decisions. The rest can be handled by the system. You will get a structured overview over your portfolio, and will never lose track of your tasks again.

Register now

 In this webinar you will take a look at SCHUMANN's modern underwriting software together with our experts Marcel Hagen and Dr. Arne Frerichs. The focus will be on buyer underwriting and process automation.

Who is this Online Event for?
 The online event is targeted for credit and surety insurers as well as brokers and MGAs.

How Does it Work?
If you have registered for an online event, you will receive the dial-in data from us by e-mail. These consist of a link to the citrix GoToWebinar web service that we use for the presentation, a phone number to dial in via your device, and an access code. In addition, you will be provided with the meeting ID. Once you have received the dial-in information from us, please follow these steps:
  1. On the day of the meeting, click on the dial-in link in your e-mail. 
  2. Use your microphone and speakers. A headset is recommended. 
  3. You are ready to go.
You are unable to attend on 04 July but would like to participate?
No problem - we would be happy to send you a recording. Contact us!
Professional Development
STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range of webinars and classroom training courses.
Classroom training courses are organised once or twice per year or on demand while webinars are organised multiple times per year or on demand for groups of participants. For 2023 the following courses are scheduled)*.
  • 14 June: Fundamentals of Trade Credit Insurance (Webinar) 
  • 26 & 27 September: the Trade Credit Insurance Foundation Course** 
  • 28 & 29 September: the Advanced Trade Credit Insurance Course** 
  • 15 June 2023: Masterclass TCI – Buy now, Pay later (Webinar) 
  • 10 & 11 October: the Surety Foundation Course*** 
  • 12 & 13 October: the Surety Advanced Course***
* Courses will run on basis of a minimal number of participants.
** Possibility to register ends on the 16th of April 2023.
*** Registration is open until 1st of September 2023.

 All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include the lunches and a dinner at the end of the first training day.
The courses are hosted by very experienced experts from the industry and there is enough opportunity for asking questions, discussions and networking.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Details information about the webinar and classroom training courses are available on the Stecis’ website: www.stecis.org also further information can can be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
AIG has been providing trade credit insurance in multiple countries around the world for more than three decades. We offer local underwriting expertise and policy servicing capabilities virtually anywhere a client’s business operates, including many emerging markets.  
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