Welcome to April's issue of Credit Insurance News Digest. The industry newsletter devoted to the global trade credit insurance industry. This issue is sponsored by Markel.
OUR NEWS: We are delighted to announce that an expanded version of Credit Insurance News Digest's regular business information section is now available in our newly launched sister publication, Credit Management News Digest. Our new Digest will provide a greater breadth of current business, economic and credit management news items, alongside new sections (this month we look at business apps) and, during 2019, will be published concurrently with Credit Insurance News Digest.
Our regular Quiz will now consist of questions sourced from both Digests.
We are grateful to Markel for providing this month's prize of a £50 Amazon gift card.
Index
Credit Insurance News
Trade credit insurance payouts are at their highest level since 2009. According to new figures published by the Association of British Insurers (ABI), trade credit insurers received 17,500 claims in 2018 (the equivalent of 50 per day) - an increase of 60% compared to 2017. The ABI also found that value of claims paid by trade credit insurers was the equivalent of £5 million every week (£251 million total), 12% more than in 2017 and the highest amount since 2009. The number of trade credit insurance policies is also now at its highest since 2008, with nearly 14,000 policies. Commenting on the figures, Mark Shepherd, the ABI’s Assistant Director, Head of General Insurance Policy, said: "Too many firms remain at the mercy of bad debts. So, we must do more to raise awareness of the importance of trade credit insurance.” To read the ABI's news release go to https://www.abi.org.uk/news/news-articles/2019/03/bad-debt-britain---payouts-to-help-uk-firms-survive-unpaid-bills-now-at-their-highest-since-2009/.
Trade credit insurance members of the Berne Union and ICISA report that they have already observed a rise in the frequency and severity of claims. In their latest joint annual state of the industry survey, the trade credit insurance members of the Berne Union and ICISA have reported they anticipate that an increase in insured trade in 2019 (especially in Asia and Sub-Saharan Africa) will be matched by a rise in insolvencies, particularly in the MENA region and Asia. The respondents also foresee the possibility of a recession coupled with higher expected levels of default. 85% of respondents think commercial risks are increasing and 75% of respondents believe political risks are becoming more prevalent, driven by concerns about risks such as Brexit and trade wars. Several members report that they have already observed a rise in the frequency and severity of claims. To read the Berne Union and ICISA's news release go to https://www.berneunion.org/Articles/Details/452/PRESS-RELEASE-2019-State-of-the-Industry-Survey.
Uncertainty is creating an increased level of interest in trade credit insurance. Credit Insurance News Digest has published a Q&A with Adrian Jones, Senior Underwriter of Trade Credit, Political Risk & Surety and Head of Strategy Asia & ME, Trade Credit at Markel (this issue's sponsor). Adrian notes that the current level of economic uncertainty is creating an increased level of interest in trade credit insurance as well as a requirement for more bespoke, specialist solutions. He also examines the impact that potential trade wars between the US and China as well as the UK’s exit from the EEA could have on the demand for trade credit products and considers why the industry's penetration in the US and Asia been so limited compared to Western Europe. Click here to read the Q&A.
PRA’s new policy statement acknowledges trade credit insurance as a credit risk mitigation tool. GTR (Global Trade Review) has published an article, 'PRA’s new policy statement on credit risk: “a welcome validation of the product”', which reports that the Prudential Regulation Authority (PRA) has issued the highly anticipated outcome of its consultation last year on the eligibility of guarantees as unfunded credit protection. According to Audrey Zuck, Director at A2Z Risk Services, last year's consultation sparked an unprecedented effort from the trade credit insurance and banking industry to explain the merits of non-payment insurance as credit risk mitigation, and the PRA's recently released policy statement has been welcomed by the industry as providing a largely positive outcome. To read GTR's article with key takeaways from the response go to https://www.gtreview.com/news/global/pras-new-policy-statement-on-credit-risk-a-welcome-validation-of-the-product/.
A sigh of relief for trade credit insurance market as the PRA time bomb is defused. TXF has published an article which reports how successful lobbying by trade finance insurers, lawyers, banks and industry bodies has helped the sector dodge the danger of a PRA consultation paper that could have "nearly shut down trade credit insurance as we know it". Following on from this success, TXF considers: "Will the industry get a taste for acting together?" To read TXF's article go to https://www.txfnews.com/News/Article/6704/A-sigh-of-relief-for-trade-insurance-market-as-PRA-time-bomb-defused?utm_source=Referral&utm_medium=Article&utm_campaign=Credit_Insurance_News (subscription required).
Nexus Group acquires Credit & Business Finance Ltd. Insurance Business has reported that the newly formed independent broking arm of Nexus Group, Xenia Broking Group, has confirmed a deal for Hertfordshire-based Credit & Business Finance Ltd (CBF) – a specialist trade credit broker with 21 staff and three regional satellite offices. CBF’s management team, including Trevor Price, Matthew Green and Mark Kennedy, will continue to run the business after the transaction and will also join the board of Xenia. The two companies are expected to integrate in due course. This is the second time that Nexus has moved for a trade credit broker – it also completed a deal for Credit Risk Solutions in October 2017 - and means it will now hold more than an 11% share of the UK trade credit broking market. The deal is the first acquisition for Xenia, but the 14th in total for Nexus. To read Insurance Business' article go to https://www.insurancebusinessmag.com/uk/news/breaking-news/nexus-group-acquires-credit-and-business-finance-ltd-163615.aspx.
Trade credit insurers and the UK steel sector. Argus Media has published an article, 'Euler Hermes increasing UK steel exposure', which reports that Euler Hermes has suggested that it has increased its exposure to the UK steel sector by 5% over the 12 months to February 2019, despite the price rundown over the second half of last year and ongoing Brexit uncertainty. The company told Argus that cover to certain buyers could have fluctuated, but its overall risk appetite was up. Argus also reported that Coface has said that it reduced its overall UK exposure by 12% last year. To read Argus Media's article go to https://www.argusmedia.com/en/news/1865852-euler-hermes-increasing-uk-steel-exposure?backToResults=true.
Global insolvencies are set to rise for the first time in a decade. A new economic research report from Atradius forecasts that global corporate insolvencies are set to grow for the first time in 10 years, with the UK expected to be in the eye of the storm. Atradius' Insolvency Forecast report predicts that even with an orderly and smooth Brexit, insolvencies will increase by 7% in the UK in 2019 - the highest increase of all advanced markets. This follows a substantial increase of 10% in 2018. Simon Rocket of Atradius commented: “Risk is an inherent part of trade in any economic environment and goes with the territory. But, despite the current climate, opportunities for trade growth are still out there and can be seized with the right approach to risk management." Click here to read Atradius' new release.
Excess of Loss (XoL) trade credit insurance set to support trade finance growth. TXF has published an article, 'Excess of Loss trade credit insurance set to support trade finance growth' in which Jonny Carruthers, Assistant Director at BPL Global, explains how XoL credit insurance is a perfect tool to give extra security to banks looking to insure against unforeseen catastrophic losses on the trade receivables they purchase. He notes that although the market for XoL credit insurance for banks is relatively new, it is set to grow with new entrants to the market and potential market capacity per transaction being well over $500 million. He also notes that insuring against risk is only the beginning: "attracting further finance, unlocking growth in receivables portfolios, gaining greater visibility and control of the underlying receivables themselves, and helping achieve regulatory capital requirements are all part of the rich mix on offer when opting for one of these structures." To read TXF's article go to https://www.txfnews.com/News/Article/6716/Expert-Briefing-Excess-of-Loss-trade-credit-insurance-set-to-support-trade-finan.
A new era for trade credit insurance. Credit Strategy has published an article in which Tanya Giles, Regional Manager of Atradius Wales and the South West, outlines how trade credit insurance can future-proof the credit strategy for businesses and manage risks that may seem impossible to predict. Tanya notes that in the new era for trade credit insurance, the key is “information”. "It’s not enough to credit check a potential new customer; you need the inside track on their financial affairs, trading strategy, payment behaviour and even an insight on their approach to risk management and whether there is a contingency plan should they hit troubled waters." She concludes: "Any market has the potential to be defined by its risks, but the difference between success and failure is how these risks are managed – and therefore reduced – in order to bring financial reward." To read Credit Strategy's article go to https://www.creditstrategy.co.uk/opinion/opinion/trade-credit-insurances-role-in-uncertain-times.
LiquidX and Marsh partner on an electronic platform for trade credit insurance. Reinsurance News has reported that LiquidX, the international network for illiquid assets, has partnered with Marsh, on the launch of a “next generation” platform for the trade credit insurance sector, called the 'Liquid Trade Credit Insurance Marketplace'. The new electronic marketplace went live recently, with numerous transactions executed and underwritten by Euler Hermes and Atradius, the first to offer their products via the network. Michael Kornblau, US Trade Credit Practice Leader at Marsh, commented: “This is a great opportunity to expand distribution for the trade credit insurance industry and enhance transactional speed and efficiency for clients.” To read Reinsurance News' article go to https://www.reinsurancene.ws/liquidx-marsh-partner-on-electronic-platform-for-trade-credit-insurance/.
Trade Ledger and Nimbla partnership offers a digital credit insurance policy. Trade Ledger and Nimbla have announced a new partnership which will be the first time two Banking-as-a-Service (BaaS) platform providers have come together in the corporate lending sector. Trade Ledger automates the end-to-end process of digital business lending for banks and alternative finance providers and Nimbla provides instant access to transactional trade credit insurance to SME businesses both via API and directly. The partnership will initially focus on the UK, European and Australian markets. Flemming Bengtsen, CEO at Nimbla said: “The ability to create a digital credit insurance policy within Trade Ledger means lenders and receivables finance providers can utilise our digital risk transfer at the point of origination and sale. This equates to transparency, the ability to price per transaction and most
importantly the administrative overhead of traditional credit insurance is eliminated.” Click here to read Trade Ledger's news release.
Trade credit insurance is still vital due to late payment construction culture. L Wood Insurance Brokers has published an article which reports that Britain’s two largest construction contractors, Balfour Beatty and Kier take 50 and 52 days respectively to pay their subcontractors’ invoices - nowhere near the level that the Government wishes to see as, post-Carillion, it tries to push a prompt payment ethos in construction. The article advises that smaller contractors worried about late payment have a solution at hand if they turn to trade credit insurance and notes that many Carillion subcontractors were able to survive the giant’s collapse thanks to having trade credit insurance in place. To read L Wood Insurance's article go to https://www.lwood.co.uk/trade-credit-insurance-still-vital-due-to-late-payment-construction-culture/.
Trade credit insurance and reliable business information offer the best protection against unsecured losses. Figures released in April by InfolinkGazette have revealed that after top 50 international law firm Ince went into Administration, 107 unsecured creditors were left with losses of £29 million. Commenting on the outcome for creditors, Greg Connell, Managing Director of InfolinkGazette, said: "lenders and trade creditors might have believed a law firm wouldn’t enter into commitments they couldn’t see their way to fulfil, but this is the second high profile law firm to become insolvent in the last six months; personal Injury Solicitors, DBS Law Ltd, left 88 unsecured creditors with losses of almost £3.5 million.” Greg concluded: "Trade Credit Insurance, together with reliable business information offers the best protection against unsecured losses.” To read InfolinkGazette's latest research go to https://www.infolinkgazette.com/?pid=6.
UK growth could outpace Germany this year. According to Euler Hermes, the UK economy could grow faster than Germany this year if it can avoid a no-deal Brexit. The insurer has forecast 1.2% year-on-year GDP growth for the UK economy in 2019 if negotiators can sign a UK-EU separation agreement this year. In contrast, Euler Hermes has cut its 2019 growth forecast for Germany from 1.7% to 1%, and for France from 1.7% to 1.2%. Euler Hermes believes that securing a Brexit deal remains the most likely scenario - with a probability of 70% that it will happen. However, should an agreement take longer to sign, the continued uncertainty suggests slower growth and downside risks to that forecast. Euler Hermes warns, for example, that If the UK leaves without an agreement on WTO rules, the economy would see a 1% decline in GDP this year. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/economic-research/insights/the-sputtering-german---french-growth-engine.html.
Corporate insolvencies are rising for the first time in years. Pymnts has published an article which reports that economists continue to raise concerns about increasing corporate debt levels. For example, Atradius found that this year is expected to be the first since the 2008 financial crisis in which global insolvencies look set to rise, with the insolvency rate for the UK expected to rise by 7% from last year and Italy, Switzerland, Sweden and the Netherlands also forecast to see notable increases. Euler Hermes has also issued a stark warning for the Chinese market, predicting that corporate insolvencies will increase by 20% this year. . To read Pymnts article go to https://www.pymnts.com/news/b2b-payments/2019/corporate-insolvencies-global-economy-growth/.
Atradius unveils forecasts for 11 major Asian economies. Insurance Business has reported that Atradius has released its annual Asia Country Report, a barometer of the statuses of 11 Asian economies, featuring relevant macro-indicators and an industry performance outlook. China is forecast to encounter an economic growth slowdown to 6%, while downside risks have increased and business insolvencies are expected to increase further in 2019. Singapore was singled out as highly susceptible to global protectionism and a hard landing of the Chinese economy, due to its high dependency on international trade. Meanwhile, Japan’s export growth will slow down due to lower global trade expansion. Atradius also released its ‘STAR political risk rating’ for the 11 economies. The rating is on a scale of 1 to 10, with 10 being the most riskiest. It is also accompanied by rating modifiers of ‘positive’, ‘stable’, or ‘negative’. To read Insurance Business' article go to https://www.insurancebusinessmag.com/asia/news/regional-news/atradius-unveils-forecasts-for-11-major-asian-economies-163480.aspx.
Why a surge in payment delays in China could be good news for credit insurers. GTR (Global Trade Review) has published an article which considers whether the current surge in payment delays in China reported by Coface’s latest annual China payment survey - see below, could be the push the country needs to tackle its historically low credit insurance penetration levels (according to Coface, currently 20% of Chinese companies puchase credit insurance or credit reports). Speaking to GTR, Carlos Casanova, Asia Pacific Economist at Coface and author of the survey, explains the findings, and outlines why this latest blowout in invoice payment times may actually lead to better opportunities for the credit insurance market in China. To read GTR's article go to https://www.gtreview.com/news/asia/analysis-why-a-surge-in-payment-delays-in-china-could-be-good-news-for-credit-insurers/ .
Business warning over China payments slowdown. My Business has reported that Australian businesses are being warned that due to the substantial trade links between the two countries, a blowout in invoice payment times in China could have a ripple effect in Australia. Coface suggests that Chinese businesses are increasingly taking longer to pay their bills (86 days in 2018 up from 76 days in 2017), as a trade war with the US and a general economic slowdown bite. “This context has led to pressure for Chinese companies, who have resorted to using longer payment terms to sustain business,” the company said in its China Payment Survey 2019 report. Some 62% of Chinese businesses suffered payment delays during 2018, according to the report, and 55% said they had experienced “ultra-long delay” of more than 180 days (around six months) on payments worth more than 2 per cent of the business’ total annual turnover. To read My Business' article go to https://www.mybusiness.com.au/finance/5565-business-warning-over-china-payments-slowdown.
Coface finds that corporate payment behaviours in China have deteriorated as a result of tighter liquidity and fierce competition. CFO Innovation has published an article, 'CFOs: Higher Risk to Cash Flow in this APAC Country in 2019', which reports that Coface's latest payment survey of 1,500 Chinese companies found that average payment terms in China increased to 86 days in 2018, up from 76 days in 2017, with terms being longest for the automotive and transportation sectors, followed by construction and energy. Coface said that 62% of companies in China experienced payment delays in 2018, with 40% of respondents reporting that they recorded an increase in payment delays (compared to 29% registered in 2017). Furthermore, the proportion of respondents experiencing ultra-long payment delays (more than 180 days) exceeding 2% of their annual turnover increased to 55% in 2018 from 47% in 2017. According to Coface, 80% of ultra-long payment delays are never paid. To read CFO Innovation's article go to https://www.cfoinnovation.com/risk-management/cfos-higher-risk-to-cash-flow-apac-country-2019.
Coface launches its credit insurance offer in Greece. Coface has announced that in line with its strategic ambition to grow in promising new markets, it is launching its credit insurance offer in Greece. Coface notes Greek companies have become more competitive, have reduced their debt and are now more export-oriented. Commenting on the opening, Xavier Durand, CEO of Coface, said: “Our Greek license extends Coface’s historically strong presence in the Mediterranean and Africa region, which represented 27% of the Group’s revenues in 2018. Greece is a promising market for Coface, where business confidence is improving, and growth is expected to be buoyant in 2019.” To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-launches-credit-insurance-offer-in-Greece.
Bulgaria, Indonesia, Vietnam, Peru and Morocco are shortlisted as promising emerging markets. Atradius has revealed that Bulgaria, Indonesia, Vietnam, Peru and Morocco have been shortlisted within its Promising Emerging Markets Economic Research Report as having the most potential for new trade opportunities this year. The top five are predicted to shine in 2019 thanks to their strong growth prospects and limited vulnerability to global headwinds. Luke Giddings of Atradius, said: “As the global economy loses steam in 2019, the risks in the traditional emerging markets are coming to the forefront. Economic policy uncertainty, a greater-than-expected slowdown in the Chinese economy and more volatile commodity prices are bringing pressure to bear. However, despite increasing global pessimism and uncertainty, there are still bright spots for global trade." Click here to read Atradius' news release.
What is political risk insurance? Insurance Business has published an article that reviews the current political risk insurance market and explores some of the challenges it currently faces. The article notes that the annual Political Risk Survey undertaken by Willis Towers Watson and Oxford Analytica recently found that 55% of global organisations with revenues exceeding US$1 billion have experienced at least one political risk loss worth over US$100 million. The most common political risk-related loss was exchange transfer, which affected almost 60% of organisations that incurred losses. This was followed by political violence (48%) and import/export embargos (40%). The key geopolitical threats highlighted by survey respondents were US sanctions policy, emerging market crises in areas like Turkey and Argentina, protectionism/trade wars, and populism/nationalism. To read Insurance Business' article go to https://www.insurancebusinessmag.com/uk/guides/what-is-political-risk-insurance-162503.aspx.
Bridging the human-tech divide. Bernie de Haldevang, Head of Specialty at Canopius, has published a blog in which he reflects on the future of the London market in Europe. He notes that although technology is driving the globalisation of insurance availability, "we as human beings" still prefer to buy more complex and tailored insurance from companies whose names are familiar. "Our need to cut costs through technology is therefore trapped in a juxtaposition: technology is quicker to change than the human mind, versus the ability of human beings to adapt to purchasing complex insurance (or anything complex) across borders in different languages, or down wires." In the long term, generational change will make this less of an issue. In the short term, "we can and must do better, and attempt to adapt more quickly by embracing technological engines such as PPL and Toredo." To read Canopius' article go to https://www.canopius.com/blog/bridge-the-human-tech-divide/.
April's Quiz - sponsored by Markel.
We are delighted to launch April's News Quiz.
Just nine short questions (all answers can be found in this issue and Credit Management News Digest), with the chance to win a wonderful prize, kindly donated by Markel, of a £50 Amazon gift card.
We will announce our next winner in the next issue on 8 May.
Just nine short questions (all answers can be found in this issue and Credit Management News Digest), with the chance to win a wonderful prize, kindly donated by Markel, of a £50 Amazon gift card.
We will announce our next winner in the next issue on 8 May.
Click here to take part.
Thank you to readers who took part in March's Quiz. We are delighted to say that the winner was Clodagh Garavan at Evo Surety.
Thank you to readers who took part in March's Quiz. We are delighted to say that the winner was Clodagh Garavan at Evo Surety.
New Appointments
Chubb has appointed John Carter to its growing Trade Credit team to focus on its top up offering, Credit Complete, in the UK, Ireland and other countries. John joins from Credendo with twenty years’ experience in the sector. John’s appointment follows that of senior credit analyst Chris Trowbridge who recently joined from Euler Hermes World Agency. Both will report to Julian Hudson, Global Head of Trade Credit.
BPL Global has announced that Evan Freely has been appointed to its Executive Board. He will work from BPL Global's recently opened New York office. Evan was formerly Managing Director and Global Practice Leader for Marsh’s Credit Specialties Group.
Ed has announced the appointment of Abhishek Chhajer as Head of Credit, Political Risks and Surety Solutions, Asia Pacific. He will report to Stephen Britten, CEO of Asia Pacific, and will be based in Singapore.
Abhishek formerly worked for Standard Chartered Bank and has also worked for Markel, Atradius, Marsh, and Willis.
Coface has announced that it has made four new appointments:
- Paul Haigley has been appointed as Vice President of Broker and Financial Institutions Relationship Management in the US. Most recently, Paul served as Vice President and Senior Underwriter for AXA XL. Before this, he spent nearly 26 years at Euler Hermes.
- Graham Crozier becomes Country Manager for Singapore. Graham was formerly Coface’s country manager for Australia. He replaces Samuel Jesuratnam.
- Joining Coface Australia are Chris Little as Country Manager and Jemma Boyle as head of the commercial department. Chris was formerly Country Manager of Coface Japan. Jemma who has been with Coface since 2012 will report to Chris.
Career Opportunities
This month's Featured Listing
Broker / Account Executive
TRADE CREDIT and POLITICAL RISK BROKING
We are looking to recruit a new member for our team of experienced trade credit and
political risk brokers. The successful candidate will help manage our bespoke and
selective portfolio of major national and multinational corporate and financial
institution clients as well as support our claims expertise.
This is a challenging role for an individual who should be willing to support and assist
in the marketing, negotiating, structuring, placing and servicing of global credit
insurance programmes for large national or multi-national companies both in
wholeturnover and excess of loss formats. Claims management is also an integral
part of our offering. Candidates will also get involved in political risks, credit risk
management and other credit risk mitigation tools both for major corporates and
financial institutions.
Preference will be given to those candidates with some experience of credit insurance
and related IT platforms either as an insurer or broker.
The role will include broking, (face to face and electronically), helping to create
insurance structures to match complex contracts and financial structures , servicing,
client support and claims work.
Candidates should:
- Be self motivated and able to work independently
- Be comfortable operating at all client levels
- Be a good team player
- Demonstrate initiative and innovation
- Have an eye for detail and good communication skills
- Have a willingness to learn about our clients’ industries and trades, the insurance market and trade finance.
- Have a disciplined approach to work
- Be willing to study towards relevant qualifications (ACII / CICM )
The role will be London based but may involve some travel.
For more information call Sarah Stables on 01473 222950 or to apply email your CV and covering letter to sarah.stables@willistowerswatson.com.
JOIN OUR TEAM
Not feeling valued at work?
Do you feel your clients are the last thing your employer considers?
Have you got some good ideas but no one listens?
Looking for a challenge?
Good news!
Not feeling valued at work?
Do you feel your clients are the last thing your employer considers?
Have you got some good ideas but no one listens?
Looking for a challenge?
Good news!
PNP is now recruiting for the following roles:
- Account Management
- Account Handling
- Business Development
You could go back to the 1980s and talk to us 0121 213 6352
or alternatively email
contacts@parkernorfolk.com.
What is it like to work at PNP?
Visit us on LinkedIn to read our ‘Staff Employment Journeys’:
linkedin.com/company/parker-norfolk-and-partners-limited.
*No agencies please*
Events & Offers
ICC Banking Commission Annual Meeting, 8-11 April. Beijing, China.
The Banking Commission of the International Chamber of Commerce (ICC), in collaboration with China Chamber of International Commerce (CCOIC) and ICC China, is pleased to invite you to the highly-anticipated ICC Banking Commission Annual Meeting to be held at the China World Summit Wing on 8-11 April 2019.
The Banking Commission of the International Chamber of Commerce (ICC), in collaboration with China Chamber of International Commerce (CCOIC) and ICC China, is pleased to invite you to the highly-anticipated ICC Banking Commission Annual Meeting to be held at the China World Summit Wing on 8-11 April 2019.
This two-day flagship event will bring together over 600+ of the most
influential trade finance experts, banking professionals, business leaders, lawyers and government
officials from over 65 countries to debate the critical issues affecting the trade finance industry. Objectives
- Gain valuable insight into the latest developments in trade finance from prominent keynote speakers, industry experts and business and finance experts.
- Exchange ideas in lively discussions specially designed to address the most topical themes in trade finance.
- Influence the debates through active participation in the Plenary and breakout sessions - the Annual Meeting is the most open forum to influence policy and guidelines that govern the trade finance industry.
- Learn about the policy and regulatory changes affecting the industry through ICC’s market- leading work in standard setting, market intelligence and policy making.
- Extend your sphere of influence through our network of over 600 members in more than 100
countries. Be a part of the largest and most authoritative voice in the field of trade finance.
Target Participants
- Financial institutions (sales and client relationship managers, product managers, back office managers, risk managers)
- Multilateral development banks and export credit agencies
- Government organizations
- Corporates
- Independent financiers
- Insurance brokers
- Underwriters
- Lawyers and consultants
- Service providers
Link to Program/Agenda.
To view the full programme, please click here.
To view the full programme, please click here.
Register here to attend the 2019 Annual Meeting
Registration deadline: 08 March 2019
GTR UK 2019, 8 May 2019. London.
With negotiations between the United Kingdom and the European Union set to conclude in March 2019, GTR UK 2019 provides one of the earliest opportunities for the UK business community to convene and discuss the country’s post-Brexit trade strategy, taking place in London on May 8, 2019.
Enjoying unrivalled support from the UK’s primary trade bodies and leading export-focused institutions and having welcomed around 500 delegates gathered across leading industries in 2018, the event provides a crucial forum for domestic exporters, financiers and trade specialists to network, discuss and debate.
Join GTR and over 50 speakers as we explore the future of UK trade and exports, examining the trading opportunities within and beyond Europe and the implications of this new economic landscape for businesses.
Last year, 54% of attendees were corporates & traders and 14% were bankers & financiers representing over 250 different companies from around the world. 84% of all attendees held a senior to a c-level position.
10% early booking discount available until April 5 when booking online with code: EBD10. Click here for more information.
With negotiations between the United Kingdom and the European Union set to conclude in March 2019, GTR UK 2019 provides one of the earliest opportunities for the UK business community to convene and discuss the country’s post-Brexit trade strategy, taking place in London on May 8, 2019.
Enjoying unrivalled support from the UK’s primary trade bodies and leading export-focused institutions and having welcomed around 500 delegates gathered across leading industries in 2018, the event provides a crucial forum for domestic exporters, financiers and trade specialists to network, discuss and debate.
Join GTR and over 50 speakers as we explore the future of UK trade and exports, examining the trading opportunities within and beyond Europe and the implications of this new economic landscape for businesses.
Last year, 54% of attendees were corporates & traders and 14% were bankers & financiers representing over 250 different companies from around the world. 84% of all attendees held a senior to a c-level position.
10% early booking discount available until April 5 when booking online with code: EBD10. Click here for more information.
GTR East Africa 2019, 21-22 May 2019, Nairobi.
For over a decade, the GTR East Africa conference has brought together leading commodity producers and traders, manufacturers, trade finance specialists, risk management experts, and trade tech innovators, providing unrivalled insight on operating in this exciting region.
Returning to Nairobi for 2019, a comprehensive two day agenda will provide a comprehensive view of the East African trade landscape, featuring in-depth analysis of geopolitical and macroeconomic trends, regulatory and finance sector developments, and the trade financing and risk mitigation techniques being utilised throughout key regional value chains, from agribusiness to oil and gas and value-add manufacturing sectors.
With over 170 different companies represented at 2018’s event including 50% corporate sector representatives, the GTR East Africa conference is established as the region’s leading gathering for all those seeking to build crucial contacts and gain the inside track on doing business across the region.
10% early booking discount available until April 26 when booking online with code: EBD10. Click here for more information.
For over a decade, the GTR East Africa conference has brought together leading commodity producers and traders, manufacturers, trade finance specialists, risk management experts, and trade tech innovators, providing unrivalled insight on operating in this exciting region.
Returning to Nairobi for 2019, a comprehensive two day agenda will provide a comprehensive view of the East African trade landscape, featuring in-depth analysis of geopolitical and macroeconomic trends, regulatory and finance sector developments, and the trade financing and risk mitigation techniques being utilised throughout key regional value chains, from agribusiness to oil and gas and value-add manufacturing sectors.
With over 170 different companies represented at 2018’s event including 50% corporate sector representatives, the GTR East Africa conference is established as the region’s leading gathering for all those seeking to build crucial contacts and gain the inside track on doing business across the region.
10% early booking discount available until April 26 when booking online with code: EBD10. Click here for more information.
BCR’s Consortia 2019. Blockchain for Trade and Receivables Finance, 21-22 May 2019. London.
BCR’s Consortia 2019 is the first international conference to raise the profile of consortiums who are
pioneering blockchain and distributed ledger technology (DLT) for trade finance to the business and
financial community.
Consortia will provide a forum for the consortiums and their prospective partners and other
interested parties to showcase and evaluate their development and the future. The event will
provide opportunity for discussion on how blockchain and DLT are impacting trade finance and the
business opportunities these new technologies offer to banks, funders, SMEs, government bodies,
trade bodies and corporates etc.
With case studies of live transactions, examples of POCs and insights from the leading consortiums,
this is not an event to be missed.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass
rate. To register please follow this link www.consortia2019.com The Credit Insurance News delegate
discount code is CIN19– please utilise the code upon booking.
Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
TXF Global 2019: Export, Agency & Project Finance
12, 13 & 14 June, Grand Hyatt Berlin.
This 12, 13 & 14 June we bring your flagship export, agency & project finance show to Berlin! If you only attend one event of the year in this industry, TXF Global is ‘the one’. Join the gig and throw yourself into deal heaven with the CEOs of Corporates, ECAs, DFIs, SOEs and government ministers.
This 12, 13 & 14 June we bring your flagship export, agency & project finance show to Berlin! If you only attend one event of the year in this industry, TXF Global is ‘the one’. Join the gig and throw yourself into deal heaven with the CEOs of Corporates, ECAs, DFIs, SOEs and government ministers.
3 days of epic headline acts, intimate networking, inspiring content and innovative session types
await anyone brave enough to get themselves a ticket.
Keynote speakers include:
- Prof. Dieter Kempf, President, FEDERATION OF GERMAN INDUSTRIES
- Dr. Christoph Herfarth, Head of Export Finance and Export Credit, Guarantee Department, GERMAN FEDERAL MINISTRY FOR ECONOMIC AFFAIRS AND ENERGY
- Anna-Karin Jatko, Director General, EKN - THE SWEDISH EXPORT CREDIT AGENCY
- Gabriel Cumenge, Deputy Assistant Secretary, MINISTRY OF FINANCE OF FRANCE - DG TRÉSOR
- Jose Pedro Freitas, CFO, MOTA-ENGIL GROUP
- Debora Revoltella, Chief Economist, EUROPEAN INVESTMENT BANK
Visit the website for the full speakers list and agenda.
To secure your ticket please book online here .
GTR US 2019, 13 June 2019. Chicago.
The GTR US conference is set to return to Chicago for its third consecutive year on June 13, 2019.
With the US midterm elections taking place in November 2018 amidst ongoing global geopolitical volatility and technological disruption across the trade sector, the strategic challenges surrounding trade financing, working capital optimization, and credit risk management remain a firm fixture on the boardroom agenda. A rapidly evolving market offering competing digital solutions across physical trade flows and the associated financing sectors only adds to the complexity faced by those tasked with financing US commerce.
Featuring a host of expert speakers, GTR US 2019 provides the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling corporate treasurers, financiers and trade credit managers to form a resilient, bottom line-boosting business strategy.
An in-depth, interactive agenda spanning business-critical insights from geopolitical risks to the latest financing trends, liquidity sources and tech innovations in the trade space will furnish attendees with a comprehensive view of the key commercial trends emerging in 2019. 2018’s meeting saw record attendance from across the trade sector, welcoming companies including Microsoft, Mars Inc, Caterpillar, Motorola, Bunge, Siemens, Olam, Samsung, BP, Louis Dreyfus Commodities and IBM, as well as leading trade and supply chain financing practitioners, credit risk mitigation experts, government bodies and those tech companies leading the disruption of trade.
With a keen focus on networking, GTR US 2019 will once again provide the ideal forum for US companies and financial service providers to meet and discuss the next steps for US trade, and the evolution of the trade finance space.
Last year, 26% of attendees were corporates & traders and 24% were bankers & financiers representing over 100 different companies. 91% of all attendees held a senior to a c-level position.
Companies that attended last year included ArcelorMittal, BP, Caterpillar, Louis Dreyfus Commodities, Mars Inc., Microsoft Corporation, Plexus Corp, and more. View the full list of companies that attended last year’s event here.
10% early booking discount available when booking online by May 17 with code: EBD10. Click here for more information.
The GTR US conference is set to return to Chicago for its third consecutive year on June 13, 2019.
With the US midterm elections taking place in November 2018 amidst ongoing global geopolitical volatility and technological disruption across the trade sector, the strategic challenges surrounding trade financing, working capital optimization, and credit risk management remain a firm fixture on the boardroom agenda. A rapidly evolving market offering competing digital solutions across physical trade flows and the associated financing sectors only adds to the complexity faced by those tasked with financing US commerce.
Featuring a host of expert speakers, GTR US 2019 provides the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling corporate treasurers, financiers and trade credit managers to form a resilient, bottom line-boosting business strategy.
An in-depth, interactive agenda spanning business-critical insights from geopolitical risks to the latest financing trends, liquidity sources and tech innovations in the trade space will furnish attendees with a comprehensive view of the key commercial trends emerging in 2019. 2018’s meeting saw record attendance from across the trade sector, welcoming companies including Microsoft, Mars Inc, Caterpillar, Motorola, Bunge, Siemens, Olam, Samsung, BP, Louis Dreyfus Commodities and IBM, as well as leading trade and supply chain financing practitioners, credit risk mitigation experts, government bodies and those tech companies leading the disruption of trade.
With a keen focus on networking, GTR US 2019 will once again provide the ideal forum for US companies and financial service providers to meet and discuss the next steps for US trade, and the evolution of the trade finance space.
Last year, 26% of attendees were corporates & traders and 24% were bankers & financiers representing over 100 different companies. 91% of all attendees held a senior to a c-level position.
Companies that attended last year included ArcelorMittal, BP, Caterpillar, Louis Dreyfus Commodities, Mars Inc., Microsoft Corporation, Plexus Corp, and more. View the full list of companies that attended last year’s event here.
10% early booking discount available when booking online by May 17 with code: EBD10. Click here for more information.
GTR Asia 2019, 3-6 September 2019, Singapore.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Europe 2019, 14 October 2019, Paris.
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets!
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets!
Last year, the two largest sectors in attendance were corporates & traders (39%) and bankers & financiers (22%). Over 250 different companies from around the world were in attendance, 78% of all attendees held a senior to a c-level position. Use code: EBD10 for 10% early booking discount – expires September 20. Click here for more information.
About the Sponsor: Markel
Credit is vital to the commercial world. Markel’s global solutions promote trade by ensuring that
buyers and sellers can do business with confidence. We offer a wealth of experience in trade credit,
political risk and surety covers, to control counterparty payment default, expropriation, confiscation
and performance risks.
Markel's team offers expert knowledge of commercial counterparty and sovereign covers across a wide spectrum of trade sectors. The key benefits for clients include security of non-cancellable credit and country limits, balance sheet and cash flow protection, improved terms for bank financing facilities, effective alternatives to letters of credit or other types of collateral, reduced need for bad debt reserves, fulfilment of capital adequacy requirements, increased potential for sales growth and security of performance obligations - all because the risks are hedged and secured on a firm foundation.
The team has extensive experience of providing global solutions for clients, but can also tailor policies for specific credit risks, markets and contingencies. As a result of the complexity of our clients’ risks spanning political, cultural, legal and social differences, it is crucial to choose an insurer who understands all of the facets of international and domestic trade, combined with a detailed understanding of available solutions across a variety of contexts and geographies.
Markel's team offers expert knowledge of commercial counterparty and sovereign covers across a wide spectrum of trade sectors. The key benefits for clients include security of non-cancellable credit and country limits, balance sheet and cash flow protection, improved terms for bank financing facilities, effective alternatives to letters of credit or other types of collateral, reduced need for bad debt reserves, fulfilment of capital adequacy requirements, increased potential for sales growth and security of performance obligations - all because the risks are hedged and secured on a firm foundation.
The team has extensive experience of providing global solutions for clients, but can also tailor policies for specific credit risks, markets and contingencies. As a result of the complexity of our clients’ risks spanning political, cultural, legal and social differences, it is crucial to choose an insurer who understands all of the facets of international and domestic trade, combined with a detailed understanding of available solutions across a variety of contexts and geographies.
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All news stories on Credit Insurance News' website are included with the prior permission of the copyright holder. Reproduction or redistribution in whole or in part, in any manner, without the express prior written consent of the copyright holder, is a violation of copyright law. If you, or your organisation wish to redistribute, republish or link-to all or any part of any Credit Insurance News Digest, you must first contact the copyright holder direct or email sally.brown@creditinsurancenews.co.uk for further information.
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