Welcome to the September 2022 issue of Credit Insurance News Digest. 
This issue is sponsored by Chubb.

Credit Insurance News
Heightened geopolitical risk drives demand for export trade credit insurance, but underwriters remain cautious. The Berne Union's latest Business Confidence Index for Q3 2022 indicates that despite the bleak economic outlook, overall demand for export credit insurance (especially short-term) remains strong. Several export trade credit insurers noted rising prices as one of the drivers of higher demand, but the Index also indicated that much of the growing demand stems from requests for higher limits from existing clients. However, with visibly growing levels of insolvency, pre-claim situations are rising and Berne Union members expect short-term business will see a substantial increase in claims paid. Consequently, underwriters remain cautious with risk appetite looking set to tighten further in Q3. To read the Berne Union's report go to https://www.berneunion.org/Articles/Details/706/Business-Confidence-Index-Q3-22-Published.
Trade credit insurers warn: "Expect the unexpected and have a plan for different future scenarios". Aon's Q3 2022 Credit Solutions Market Insights Report contains a feature in which Aon's Global Head of Credit Solutions, Stuart Lawson, speaks to four leading voices from the credit insurance market (Anil Berry, Group Board Member at Allianz Trade; Andreas Tesch, Group Board Member at Atradius; Corine Troncy, Global Head, Trade Credit at AIG; Nicolas Garcia, Group Commercial Director at Coface) about the future of the industry, current economic challenges (increasing late payment, expectations of an increase in volume and severity of defaults) and how credit insurance is supporting clients. Nicolas Garcia commented: "You should expect the unexpected in this environment." To read Aon's report go to https://insights.aon.com/aons-credit-solutions-q3-2022-insights/evolution-of-credit-risk.
Claims are beginning to emerge for Russian and Ukrainian trade credit, political risk, and structured credit policies. A report by Marsh has advised that claims are beginning to emerge for Russian and Ukrainian trade credit, political risk, and structured credit policies issued before sanctions were imposed. More claims are anticipated in the second half of 2022 and the first quarter of 2023. Marsh adds that the increased challenges of managing risk in complex and extended supply chains combined with the ongoing conflict and tensions in Taiwan, is increasing demand for trade credit, political risk, and structured credit insurance; however, since late February, few — if any — new political risk or credit insurance policies have been available for Russia, Ukraine or Belarus. To read Marsh's report go to https://www.marsh.com/uk/risks/geopolitical-risk-russia-ukraine-conflict/insights/russia-ukraine-conflict-long-term-risks-emerging.html.
A cyclical approach to trade credit insurance doesn't do the product justice. Insurance Business has published an article in which Umberto Oliva, Director for Trade Credit at Verlingue, discusses how the role of trade credit insurance comes into its own during times of crisis — with the current economic environment offering no exception. However, he notes that a cyclical approach to trade credit insurance isn't doing the product any justice, "and insurance players are not doing the industry any favours by allowing that behaviour to continue." He also advises that at 12-14% penetration, the UK is lagging when it comes to credit insurance uptake — which stands at "between 30-35% in France and north of 40% in Germany" — and, "rather than allowing it to remain a bleak headline every time a business goes bust," the wider market needs more active discussions around the benefits of trade credit insurance. To read Insurance Business' article go to https://www.insurancebusinessmag.com/uk/news/breaking-news/trade-credit-insurance-market--in-the-spotlight-419577.aspx.
The UK's trade credit reinsurance scheme demonstrated the importance of trade credit insurance. A year on from the end of the UK government's Trade Credit Reinsurance Scheme, Global Banking and Finance Review has reported that Atradius has found that businesses are continuing to invest in trade credit insurance cover with high customer retention rates (92.9% in 2021 reported by Atradius earlier this year). James Burgess, Commercial Director of Atradius UK, commented: "One year on since the end of the scheme, and there's no doubt that it offered a vital lifeline to thousands of businesses around the UK. Its successful implementation demonstrated to many just how important credit insurance is, and we've definitely noticed an increased awareness and understanding of the value it provides." To read Global Banking and Finance Review's article go to https://www.globalbankingandfinance.com/one-year-end-of-the-trade-credit-reinsurance-scheme-why-should-uk-businesses-continue-to-invest/.
European Systemic Risk Board warns that discontinuity in trade credit insurance is a potential source of systemic risk. The European Systemic Risk Board (ESRB) has issued a note on macroprudential aspects of trade credit insurance which identifies avenues for further work on policies to make the trade credit insurance market more resilient during times of stress. The ESRB notes that the introduction of ad hoc state aid schemes at the start of the COVID-19 pandemic was an indication that governments viewed any discontinuity in trade credit insurance as a potential source of systemic risk that could lead to serious disturbance in the economy and a sharp contraction in trade. However, the report notes that ad hoc governmental interventions are a "suboptimal way to maintain TCI cover to remedy serious disturbance in the economy," and suggests that avenues for further policy work should focus on reducing the likelihood that governments feel the need for ad hoc intervention in the future. To read the report go to https://www.esrb.europa.eu/pub/pdf/reports/esrb.issuesnoteonmacroprudentialaspectstradecreditinsurance202208~eaa8c9c764.en.pdf.
ICISA raises some concerns about the ESRB proposals for the trade credit insurance industry. The International Credit Insurance and Surety Association (ICISA) has advised that the European Systemic Risk Board's (ESRB) proposals for the trade credit insurance market require further work, "including assessing their pros and cons." For example, the ICISA notes that the ESRB's suggestion of the possibility for wider use of non-cancellable limits within the private market would not be appropriate on a blanket basis and would represent a fundamental change to the fabric of the market — without benefit to either policyholders or insurers. "Such a radical change in the market would also likely see many insurers consider whether to continue to operate in the marketplace at all. This is because switching business models to this degree would require significant and costly changes to underwriting, reinsurance purchasing, distribution, modelling, claims management and other core operational elements of insurers." To read ICISA's news release go to https://icisa.org/news/what-is-the-impact-of-trade-credit-insurance-on-the-economy/.
Short-term export credit claims fell by 19% in 2021 but may not remain low. Global Trade Review (GTR) has reported that the Berne Union's 2021 State of the Industry Report has found that its members saw short-term export credit claims fall by 19% in 2021, resulting in payouts of US$2.5 billion. This was the lowest short-term claims ratio recorded by Berne Union members in over a decade. However, looking ahead, Michal Ron, President of the Berne Union and Chief International Officer at Sace, noted that it is unclear whether levels will remain low once debt can no longer be rescheduled. "As we emerge into the recovery phase, the question remains how much of this has been simply kicking the can down the road." To read GTR's article go to https://www.gtreview.com/news/global/export-credit-payouts-hit-record-high-as-pandemic-effects-emerge/.
W Denis Credit Risks acquires the share capital of Hanwell Atkinson Ltd. W Denis Credit Risks Ltd has announced that it has acquired the share capital of Hanwell Atkinson Ltd. W Denis Credit Risks are a UK specialist broker, dealing in trade credit insurance, surety, and political risk, with offices in London, Leeds and Tamworth. Like Hanwell Atkinson they deal with insurers offering trade credit insurance and surety, and, through the W Denis group, also have access into the specialist Lloyds' of London market. Duncan Hanwell, Director and owner of Hanwell Atkinson, commented: "Hanwell Atkinson has been looking for another business to partner with, and W Denis presented the perfect fit, as a like-minded UK-based specialist broker." Click here to read W Denis' news release.
Demand for trade credit cover will increase even as appetite reduces. StrategicRisk has reported that Aon's latest Market Dynamics Outlook report found that, although market conditions for trade credit coverage became more challenging during Q2 2022 due to ongoing supply chain issues, inflationary pressures and uncertainty related to the geopolitical events in Eastern Europe, capacity was "generally sufficient to meet most client needs." Aon also predicted that demand for trade credit cover would continue to increase, despite reduced underwriting appetite (Aon noted that trade credit insurers currently leverage a more rigid and rigorous approach and focus heavily on policy language) and double-digit increases in pricing for trade credit cover. Prices rose by between 11% and 30% across Q2, according to Aon's report. To read StrategicRisk's article go to https://www.strategic-risk-europe.com/home/demand-for-trade-credit-cover-will-increase-even-as-appetite-reduces-aon/1442184.article.
UKHospitality calls for the reintroduction of a trade credit insurance scheme for energy. UKHospitality has called on the UK Government for urgent support if thousands of UK hospitality businesses are to avoid collapse this winter in the face of soaring energy costs. In a letter to Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng, UKHospitality Chief Executive Kate Nicholls suggested that the Chancellor and Business Secretary introduce "a comprehensive package of measures to the end of March 2023," including a business rates holiday for all hospitality premises, with no caps applied; deferral of all environmental levies; the reinstatement of a generous HMRC Time to Pay scheme; and the reintroduction of a trade credit insurance scheme for energy. To read UKHospitality's news release go to https://www.ukhospitality.org.uk/news/615397/UKHOSPITALITY-PREDICTS-WIDESPREAD-BUSINESS-FAILURE-AND-CALLS-ON-GOVERMENT-FOR-ENERGY-COSTS-ACTION.htm.
Trade credit insurers "pull cover" for offsite builders. Construction Enquirer has reported that trade credit insurers are "limiting or pulling cover" from modular construction specialists as the offsite industry continues to go through financial turmoil. One industry expert told Construction Enquirer: "It has been a tough few months for the offsite sector and it looks like credit insurers are now getting cold feet. We are being offered only limited cover on even big name firms so there is a lot of risk at the moment for firms down the supply chain." To read Construction Enquirer's article go to https://www.constructionenquirer.com/2022/07/28/trade-credit-insurers-pull-cover-for-offsite-builders/.
Allianz Trade and Pledg launch a Buy Now Pay Later solution. Allianz Trade and Pledg have announced that they have developed a solution to enable B2B e-commerce sites and marketplaces to propose deferred or split payments to their customers. The mechanism is: a buyer fills his basket on the e-commerce site and clicks on "pay at 30 days"; Allianz Trade analyses the financial health of this buyer; the algorithms confirm the deferred payment, and Pledg instantly pays the e-commerce site. Jacques-Olivier Schatz, Managing Director at Pledg, commented: "We decided to work together to find a simple, instantaneous and innovative solution that allows B2B e-commerce sites and marketplaces to offer payment facilities to their customers, in complete security and without any effort in reconciliation of accounts, while being paid immediately." To read Allianz Trade's news release go to https://www.allianz-trade.com/en_global/news-insights/news/partnership-allianz-trade-x-pledg.html.
Trade credit insurers implement more stringent controls and reduced limits. Insurance Business has published an interview in which Stuart Anderson, Chief Executive Officer for Asia at National Credit Insurance, talks about how market conditions are affecting the trade credit insurance market. He notes that trade credit insurers are keen to grow yet cautious on the most obviously impacted sections of economies and are implementing more stringent controls and reduced limits. "Gone are the days of solely assessing a buyer's ability to pay; insurers have increased scrutiny on their policyholders. A seller's strong track record and proven experience in credit risk management are now crucial to gain insurers' support." Going forward, Anderson warns that although insurers and businesses must brace for a wave of insolvencies, he expects it to remain manageable. To read Insurance Business' article go to https://www.insurancebusinessmag.com/asia/news/breaking-news/trade-credit-insurers-cautious-amid-global-inflation-crisis-419851.aspx.
Ted Baker's cashflow is under pressure as it trades without trade credit insurance. Retail Gazette has reported that Ted Baker's cashflow is under pressure as the fashion retailer has been trading without credit insurance since the height of the pandemic. The article notes that, on 17 July 2022, The Sunday Times reported that insurers such as Euler Hermes (now Allianz Trade) and Atradius cut cover for Ted Baker's suppliers back in 2020 and have not reinstated it. The retailer, which is currently up for sale, is reported to have been left "with just £3.1 million in net cash as of January as it bankrolled more stock in anticipation of a bounce back in sales following COVID restrictions being lifted." To read Retail Gazette's article go to https://www.retailgazette.co.uk/blog/2022/07/ted-baker-cashflow-credit-insurance/.
2021 saw increased premium volumes, lower levels of expected business insolvency, and amplified demand for trade credit insurance. Aon's latest Credit Solutions Market Insights report advises that trade credit insurers emerged from the COVID-19 crisis in 2021 with strong financial results driven by increased premium volumes, lower levels of expected business insolvency, and amplified demand for innovative solutions. However, Aon notes that, according to Allianz Trade's predictions, after two years of declines, global business insolvencies now look set to increase by +10% in 2022 and +14% in 2023. While state support will keep insolvencies artificially low in France and Germany in 2022, Aon notes that the UK could see a sharp rebound. In contrast, the US should see a moderate rebound in insolvencies in 2022 with a prolonged low number of cases. To read Aon's report go to https://insights.aon.com/aons-credit-solutions-q3-2022-insights/trade-under-turbulence.
UK retailers face soaring upfront energy payments due to limited trade credit insurance. Retail Gazette has reported that as a result of limited trade credit insurance available to many hospitality businesses, a number of the major UK energy providers, including SSE and EDF, are asking some companies to put down huge deposits to cover bills in advance amid fears that the crisis will cause many small businesses to collapse. Kate Nicholls, Head of UKHospitality, commented: "This is common as there is little trade credit insurance available to hospitality businesses because of the COVID challenges the sector faced and concerns about risk appetite." She said in some cases, "millions of pounds for a high street chain" were being demanded. To read Retail Gazette's article go to https://www.retailgazette.co.uk/blog/2022/08/energy-suppliers-retailers/.
Payment delays and defaults have started to increase in the UK metals and steel industry. Atradius' latest report on Metals and Steel Industry Trends UK suggests that payments in the industry currently take 90 days on average, but payment delays and defaults are now starting to increase — a trend set to continue in the coming months. In addition, Atradius warns that business failures could increase by about 30% year-on-year in the coming twelve months (although this surge is from historically low numbers recorded in 2020 and 2021). Atradius advises that its underwriting stance is generally open for the non-ferrous metals subsector, neutral for iron and steel and "restrictive regarding the casting and metals manufacturing segments." To read Atradius' news release go to https://group.atradius.com/publications/industry-trends/metals-steel-industry-trends-united-kingdom-2022.html.
Nimbla product updates: Flexi Limit and XL cover. Following a three-month proof of concept trial with ten brokers, Nimbla has fully launched a new product, exclusively available via Nimbla's app, which allows SMEs to receive a purchase link for quotes generated by their Broker. Cover up to £500,000 is available. In addition, backed by A+ rated Lloyds paper, Nimbla has introduced NimblaXL insurance to give clients and brokers the ability to get risk protection up to £2.5 million for between 30-days and 12 months. To read Nimbla's update go to https://www.nimbla.com/blog/product-update-august-2022.
German companies have never been so pessimistic about their business outlook. Coface's latest survey on corporate payment experience in Germany indicates that the number and duration of payment delays have increased, but only slightly and from a very low initial level. The average duration of payment delays increased to 28.7 days in 2022 (+1 day), after shortening by seven days in 2021. Companies in the paper-packing sector experienced the shortest waiting time (average 18.4 days), and companies in the finance sector the longest (average 35.0 days). However, although payment behaviour remains very positive, Coface also found that companies have never been so pessimistic about the business outlook; 38% of all respondents expect worse business conditions in 2023 and only 14% are more optimistic. Furthermore, this pessimism is observable in almost all sectors. To read Coface's report go to https://www.coface.com/News-Publications/News/Germany-Corporate-Payment-Survey-2022-Battered-companies-prepare-for-another-crisis.
Hub International acquires Canadian risk management and trade credit insurance brokerage, Jaimac Risk Management Inc. Hub International Limited has announced that it has acquired Jaimac Risk Management Inc. The terms of the transaction were not disclosed. Located in Ottawa, Ontario, Canada, Jaimac is an independent insurance brokerage specialising in risk management and credit insurance. Paul Turner, President, and the Jaimac team will join Hub Ontario. To read Hub International's news release go to https://www.hubinternational.com/press-releases/2022/08/hub-international-acquires-jaimac-risk-management-inc-in-ontario/.
Artificial Intelligence — a new frontier in trade credit insurance. Atradius has published an article in which Stan Chang, Director Group Buyer Underwriting, talks about how artificial intelligence has revolutionised the world of risk underwriting and Atradius' processes. He notes that the rewards of "combining old school values with new world science" range from cost-savings, to productivity gains, increased customer satisfaction, new propositions, and new business models "with game-changer accolades." To read Atradius' article go to https://group.atradius.com/press/atradius-news/ai-a-new-frontier-in-credit-insurance.html.
Q&A with Xenia's Stuart Grice and Lisa Humphries. Xenia Broking Group has published a Q&A with Xenia's Director of Client Services, Stuart Grice, and Client Service Director, Lisa Humphries. Both describe their current roles and how they got into credit insurance. On a personal note, we learn that when he is not working, Stuart's hobby is taking a few rectangles of exotic hardwoods and turning them into a guitar, while Lisa is a very good florist in her spare time. 
Webcast: The umbrella that doesn’t open? The future of credit insurance. On the morning of 14 September, Trade Finance Global and Tinubu joined forces to present a virtual tradecast, looking at four different sectors of the trade credit insurance industry, and how they have been impacted by the COVID-19 pandemic, geopolitical issues and inflation. This included: 
  • A trade credit insurance industry outlook 
  • How public and private credit insurance supports global economies and trade 
  • Risk appetite, claims, payouts: how to make trade credit work for everyone, everywhere 
  • Outlook, innovation and sustainability in trade credit insurance 
  • Expert perspective: banks & lenders, insurtechs, associations, and ECAs 
Recordings of this morning's event are now available. Go to https://www.tradefinanceglobal.com/tradecast/t5-future-of-credit-insurance-tinubu/ for more information.
The GTR Leaders in Trade awards highlight excellence in the trade, commodity, supply chain and export finance, and fintech markets, recognising pioneering institutions and top performers from around the world. Congratulations to the winners and nominees in the following categories: 
  • Best trade credit and political risk insurance underwriter: Shortlisted nominees: Chubb, HDI Global Specialty, The Hartford. Winner: Chubb.
    GTR reported that Chubb experienced a "record year" in 2021, achieving growth of over 20% in each of its five global hubs. "Chubb made no changes to its commitment to non-cancellable policies or limits during 2021, and did not participate in any government support scheme, instead focusing on providing one-to-one service and working in partnership with its clients. It describes this strategic decision as a "key differentiator", and this award recognises the company's vital role in providing a lifeline to businesses during unprecedented disruption to trade flows." 
  • Best trade credit insurance broker: Shortlisted nominees: Aon, BPL Global, Marsh, WTW. Winner: WTW
  • Best political risk insurance broker: Shortlisted nominees: BPL Global, Marsh, WTW. Winner: BPL Global.
Annie-May Patties from Atradius who has been named trade credit insurance Underwriter of the Year by National Credit Insurance (NCI). Andrew Donnelly of TCUA was in second position, followed by Ashe Seaton of Atradius and Ian Dennis of Allianz Trade who shared third place.
New Appointments
W Denis Credit Risks has welcomed back Michael Fradgley as Associate Director. Michael was previously Senior Client Manager at Aon, but prior to June 2020 worked as an Account Executive at W Denis.
Allianz Trade in Asia Pacific has promoted Shan Aboo as Regional Commercial Director. Shan previously served as CEO of Allianz Trade in ASEAN. He will be based in Singapore and report to Paul Flanagan.
Coface Romania has appointed Alina Popa as its new Country Manager, taking over the management of the company from Eugen Anicescu. Alina Popa joined Coface eleven years ago and has held several strategic positions within the company, most recently as Commercial Director.
Liberty Specialty Markets has appointed Jesse van Cleef to the newly created role of Head of Multi-buyer Trade Credit Europe, under its Financial Risk Solutions business. Jesse joins from Atradius, where he was Regional Director of Special Products. He is based in the Netherlands.
Allianz Trade has appointed Robert Oprescu as Regional Operational Excellence Analyst, based in London. Robert has held various positions with Allianz Trade since 2018, and was most recently employed as a Risk Underwriter.
PIB Insurance Brokers has made two new appointments: Georgie Hasler as Account Handler in PIB's trade credit team and Rob Coulton as Senior Account Executive. Both formerly worked for Aon; Georgie as a Client Manager at Aon and Rob as Branch Director.
WTW Financial, Executive & Professional Risks has welcomed Scott Morrison to its Trade Credit team in the UK as Business Development Director. Scott was formerly Co-Head of the Trade Credit Excess of Loss team at Canopius.
Company Watch has appointed Chris Oatts as Head of Commercial Products. Chris joins from Coface, where he was Head of Information Services.
Aon has appointed Will Jones as Head of National - UK. Will was previously Regional Head GCC, Credit Solutions for Aon Middle East.
Attis Credit Solutions has announced that Katie Croasdell has joined as Senior Account Handler based in Attis' Leeds office. Katie joins from Marsh, where she was an Account Handler.
EFCIS has made two new appointments. Ryan Watts joins EFCIS' Bexley team as Senior Broker and Team Lead. Ryan joins from Allianz Trade where he was a Strategic Account Manager. Danielle Cousins has been promoted to Managing Director of the Bexley site. Danielle has been with EFCIS for more than twelve years.
Allianz Trade Northern Europe has promoted Charlotte Champagne to the role of Head of Product and Data. Charlotte was formerly Product Manager for Allianz Trade in UK & Ireland.
Chubb has appointed Manos Trimponias as Credit Analyst, Political Risk & Trade Credit, based in London. Manos joins Chubb from Allianz Trade in UK & Ireland where he was Surety bonds and Guarantees Underwriter.
Career Opportunities
Client Manager
SME Marlow, United Kingdom 

Aon is currently recruiting a Client Manager to join our Credit Solutions team in the Marlow office.
About Aon
Aon Plc is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Aon is an equal opportunities employer. Aon's recruitment and selection policy ensures the best possible skill mix of colleagues and the highest quality candidates are appointed using objective job-related criteria.

About the Role
As a Client Manager some of your key responsibilities will involve;
Working as part of a multi skilled broking team and under instruction of the Marlow Branch Director to support Aon’s clients as well as ownership of own client portfolio.
Interacting with Clients, Insurers and colleagues on day to day policy management including:
  • Handling credit limit process (assisting with applications, follow up, providing feedback to client and appeals)
  • Supporting clients on reporting of overdue buyer and liaising with insurers
  • Assisting with claims submissions and claims’ broking process 
  • Negotiation of policy wording with insurers and ensuring timely delivery of accurate policy documentation 
  • Providing clients with training and guidance on policy terms and conditions and systems 
  • Gathering and analysing policy and market data, producing reports and presentations
Leading policy renewals with own portfolio and supporting the other members of the SME team.
This will include gathering and analysing relative statistical detail, submissions to market, chasing insurers for indications of cover, presenting terms and preparation of renewal reports.
Preparation for and attendance of, client and insurer meetings and conference calls plus timely follow up meeting notes and actions. The Client Manager role will be providing advice to clients on market developments and share knowledge of market trends to enhance the overall value proposition.
Responsible for working in accordance with the Aon UK Limited Risk Management Framework, and compliance with the Aon UK Limited policies, including participation in the management of risks (including completion of mandatory training) that may adversely affect the business, interests or reputation of any Group Company.

About you
As a Client Manager your skills and qualifications will ideally include;
  • Experience of credit insurance, credit management or related sector would be of advantage 
  • Competent in use of Microsoft Office and IT systems 
  • Enthusiastic and innovative 
  • Team player 
  • Ability to handle significant workflow through efficient time management and organisation 
  • Ability to use IT systems to efficiently to deliver client service 
  • Self-motivated and willing to use own initiative 
  • Ability to find creative solutions to new problems as they arise 
  • Integrity and working in a way that positively impacts our clients, colleagues and communities

Salary and Benefits
This role offers a competitive salary and bonus, plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you will also have the opportunity to choose additional benefits, including healthcare, and additional holiday.

Our Colleague Experience
Every day, our colleagues make a difference, work with the best, own their potential, and value one another. Together, we share this one purpose: to empower economic and human possibility around the world. This unifying goal is at the heart of our identity, and it lives in everything we do. To learn more about our colleague experience, visit Aon Colleague Experience.
We’re happy to talk flexible working. If you need to flex your working pattern, Aon offers flexible and agile working policies and we’re happy to discuss options with you upon application.

To apply
To apply for this position please go to https://jobs.aon.com/jobs/54904?lang=en-us&previousLocale=en-US.
Career Opportunities
Nairobi, Kenya
The African Trade Insurance Agency (“ATI”) is a pan-African multilateral financial institution established in 2001 by African States. ATI was originally launched with the technical and financial support from the World Bank Group and has had more recent support from other institutions including the African Development Bank. ATI has grown into a market leader for risk mitigation in Africa, establishing itself as Africa’s primary trade and investment insurer and one of Africa’s largest Development Finance Institutions with an outstanding portfolio exceeding US$6.6bn at year end 2021.
ATI provides political and credit risk insurance to companies, investors and lenders doing business in Africa. For over a decade, ATI has maintained an A rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019 obtained a second A3/Stable rating from Moody’s. ATI’s membership includes African Member States as well as a number of corporate and institutional shareholders. Besides its head office in Nairobi, ATI currently has offices in Benin, Côte d'Ivoire, Tanzania, Uganda and Zambia.

ATI is seeking to recruit for the below positions:
  1. Senior Underwriter (Re-Advertisement)
  2. Underwriter (Re-Advertisement)
  3. RLSF Coordinator (Re-Advertisement)
  4. Bi-Lingual RLSF Underwriter (Re-Advertisement)
  5. RLSF Underwriter(Re-Advertisement)
Role Descriptions
The above positions will be based in Nairobi, Kenya. The role descriptions and fuller details of the duties are hyperlinked on each of the roles on ATI’s website www.ati-aca.org.

Qualifications, Experience and other Attributes
The successful candidates must have suitable qualifications and attributes as indicated in the job description for each position. All applications must be in English.

How to Apply
Candidates are required to submit an electronic copy of the following:
  1. 1. Application Letter
  2. CV, plus details of your current remuneration package if applicable along with details of three referees
  3. Personal History Form
Submit your application to recruitment@ati-aca.org indicating the position applied for as the subject of your email.
The closing date is Friday, 30 September 2022 at Midnight Nairobi time.

ATI offers a competitive salary and benefits package and a collegial working environment commensurate with other multilaterals. ATI reserves the right to not make an appointment, or to make an appointment at a slightly higher or lower grade, or to make an appointment with a modified job description. ATI will only contact those applicants who are being actively considered for an interview.
Assistant Broker
Cardiff, Wales
Willis Towers Watson (now WTW) – UK Trade Credit insurance team (within Global Financial Solutions).
The role will be ‘hybrid’ based in Cardiff or Reading, with some requirement to travel to other locations. You will be responsible for supporting colleagues managing a portfolio of clients and prospects with shared accountability for retention of clients and supporting and broking new business.

The Role
  • Supporting the UK Trade Credit Team in all aspects of work understanding the clients’ business needs
  • Support colleague’s business development activity, assisting in marketing, and placement 
  • Supporting Brokers in client account administration with the goal to retain and develop a profitable portfolio of accounts, including day to day care of clients’ programme in a timely and accurate manner 
  • Assisting with financial reporting, budgeting, and account set up (including billing and income allocations)
  • Documentation production and review 
  • Capturing and loading market data on WTW systems
  • Assisting brokers with placement queries
  • Maintain knowledge of relevant products and services offered by WTW 
  • Ensure transparency of agency and other commitments made to carriers and clients 
  • Supporting UK Trade Credit Team deliver optimisation of revenue from new and existing clients
The Requirements
  • Educated to A Level or Degree level (or equivalent) or with relevant insurance experience (or similar)
  • Confident and articulate with commercial awareness 
  • Strong analytical and numeracy skills, good administrative efficiency and IT skills (Microsoft Office 365)
  • Excellent communication (written & oral) negotiation and influence skills & interpersonal skills
  • Attention to detail and time management
  • Must be able to work in a fast-paced and dynamic team environment where lateral thinking, initiative, self-motivation, problem solving, and decision-making skills are crucial
  • Ability to represent the practice and WTW with integrity and credibility 
  • Interested in pursuing industry qualifications as part of ongoing development- E.g. CII and/or CICM
  • Full specialist training to be provided with encouragement and opportunity to expand and grow the role
The above list is intended to be as accurate a reflection of the role as possible. However, it may be revised from time to time if different tasks commensurate with the role or level of responsibility are needed to be performed and/or when circumstances change.
To apply for this role, please send your CV and covering letter to jennifer.donaghy@wtwco.com.
WTW is an equal opportunity employer.
Sales Executive.
National Credit Insurance (Brokers) NZ Ltd
Christchurch, New Zealand
  • Largest Specialist Broker of Trade Credit Insurance & Solutions in New Zealand
  • Attractive salary and no ceiling on commissions
  • Great culture, dynamic, client service focussed team
About NCI:
For over 35 years NCI has been Australia and New Zealand's leading provider of trade credit solutions. With a national footprint and branches extending to the Asia Pacific region, you will have the opportunity to grow your career in a dynamic and innovative environment. NCI is owned and backed by Steadfast Group Ltd, an ASX top 100 company with a market cap of $4.6 billion.
NCI offer a range of benefits that include:
  • Company car or car allowance, laptop and mobile phone 
  • Flexible work from home policy 
  • 4 Leisure leave days a year, in addition to annual leave 
  • Paid volunteer leave
About the Role:
Reporting to the Managing Director NZ, you will be responsible for identifying and developing new business through networking, relationship building and cold calling as well as cross-selling our range of products. We will provide you with training and a group of lead generators to help you on your way.
You will be accountable for delivering results against set targets. We are offering a competitive remuneration package with a generous commission structure.

About You:
We are looking for an energetic, experienced new business hunter who has a proven track record of establishing new business through cold calling networking and relationship building.
If you like to hunt and close, this is the role for you. You must have a passion for sales, be persuasive and disciplined to achieve results.
Ideally, you will have a Level 5 Certificate in Financial Services or be prepared to attain this.
Successful sales executives have come from industries such as banking, real estate, door-to-door sales and finance.

If you are motivated by opportunity and want a great place to work then call us today.
If you would like further information about the role, please call Gina on 0800 442 556.

To apply, please send your CV and covering letter to Zara Mends at Zara.Mends@ncinz.co.nz.
Client Advisor – Trade Credit.
Marsh Trade Credit Practice, Manchester
Marsh Trade Credit has an excellent opportunity for a Client Advisor to join our Risk Management & Major Accounts team in Manchester, providing top class client service and added-value solutions to our largest clients.

We will rely on you to:
  • Provide daily service to our larger clients in the Major Account segment and assist Client Executives with conducting and concluding the renewal process;
  • Administer any action logs, ensuring tasks are actioned in a timely fashion, monitored and followed to their completion;
  • Manage credit limit requirements for our clients via the various insurer on-line portals and by speaking/negotiating directly with the insurers;
  • Provide our clients with support and guidance to ensure they adhere to their policy terms and conditions, e.g. reporting overdue invoices, making claims on time, etc.
  • Carry out client meetings to provide client service, conduct renewals and/or assist the Client Executives, producing minutes and managing any resulting action points;
  • Prepare pre-renewal submission data, renewal reports & invoicing, conduct renewals where required;
  • Assist Development Executives on New Business cases as required & actively build relationships across Marsh and with other departments. 
What you need to have:  
  • B2B Client Relationship experience;
  • Excellent time management and organisational skills; 
  • Attention to detail; 
  • Able to perform well under pressure & using own initiative;
  • Previous knowledge and experience of Credit Insurance would be ideal but is not essential;
  • A basic knowledge of insurance and or finance would be advantageous. 
What makes you stand out? 
  •  Excellent performance in a B2B Client Relationship role;
  • Previous knowledge and experience of Credit Insurance, insurance or finance.
What can you expect?
  • To join an experienced and successful existing team.
  • To contribute to the team’s performance in providing the highest levels of service; helping retain clients and growing our client book of business.
  • The opportunity to work with and add value to high profile clients across a number of industry sectors.
  • The opportunity to develop your knowledge, skills and career via ongoing training and development within a large multinational business.
  • To complete an initial induction process, combining formal training and on–the-job experience & support to ensure you can deliver all of the above.
What you will be rewarded with:
  • Competitive Benefits Package including:
    27 days annual leave, excellent pension contributions, private medical cover, life assurance, income protection, employee assistance program, plus a range of flexible benefits including the option to buy or sell up to 5 days holiday per year, cycle to work, dental insurance, health assessments plus many more.
    Generous Family Leave including 6 months paid maternity leave, 4 months paid paternity leave, 6 months paid adoption leave plus shared parental leave options.  To help ease the transition when you return to work you will be able to work 8 weeks at 80% of your normal work pattern and receive 100% of your normal salary.
To apply for this position email your CV and a covering letter to emeka.okakpu@mmc.com. 

About Marsh:
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US $17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.
Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people regardless of their sex/gender, marital or parental status, ethnic origin, nationality, age, background, disability, religion, sexual orientation, gender identity or any other characteristic protected by applicable law.
We are an equal opportunities employer. We are committed to providing reasonable support to any candidate with a disability/health condition to allow them to fully participate in the recruitment process. We welcome candidates to contact us at TAUK@mmc.com to discuss any specific needs.
Events & Professional Development
ICISA Trade Credit Insurance Week, 26-30 September. Online.
Trade Credit Insurance week is a week of celebration of Trade Credit Insurance sector. With this event, ICISA aims at increasing awareness of the valuable economic role of TCI industry. Experts in the sector agreed to join our initiative and share their views on issues faced by the industry nowadays.
The event will take place between 26 – 30 September 2022. A total of 9 virtual sessions will be organized during the week, featuring debates, interviews, webinars and presentations.
To participate in this first Trade Credit Insurance Week event, please click here to register for each session you'd like to join. After registration, a confirmation email will be received from Livestorm. A reminder will follow an hour before each session.
Sessions include
  • Public Perception of Trade Credit Insurance: “The Umbrella that Doesn’t Open” 
  • Why Financial Institutions use Credit Insurance - Challenges, Changes and Opportunities 
  • The Changing Nature of Trade 
  • Current Trends and Evolution in TCI Market 
  • Development of US Credit Insurance Market 
  • Attracting and Retaining Talent 
  • State-of-the-art Technology in Insurance Industry 
  • What Role can TCI Play in Building a more Sustainable Future
  • Understanding the Evolving Sanctions Landscape
If you have issues registering to our event(s), please contact secretariat@icisa.org. We'll come back to you as soon as possible.
ICISA is happy to be working with Trade Finance Global on the promotion of the Trade Credit Insurance Week.
For more information go to https://icisa.org/event/trade-credit-insurance-week-2022/.
SCHUMANN Digital Risk Management Conference 2022.

The SCHUMANN Conference is the cross-industry and multinational online event for decision-makers and executives around credit risk management, compliance, and digitalisation projects. 

On 27 September 2022, you can expect expert knowledge, how-to strategies from our customers and inspiration to help you increase your competitiveness through process automation.

  • via live stream 
  • 27 September 2022 
  • 10:00 a.m. to 5:00 p.m. (CEST) 
  • The conference is aimed at decision-makers and executives in charge of credit risk management, compliance, business development and digitalisation.
  • Industries: Manufacturing and trade, energy, financial services, credit & surety, etc. 
  • Participation is free of charge

For more information go to https://prof-schumann.com/en/conference
To register Click here.

STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range of webinars and classroom training courses.
The classroom training courses are scheduled to take place in September 2022 on the following dates:
  • 27 & 28 September 2022: Trade Credit Insurance Foundation Course
  • 29 & 30 September 2022: Trade Credit Insurance Advanced Course
  • 27 & 28 September 2022: Surety Foundation Course
  • 29 & 30 September 2022: Surety Advanced Course
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include lunches and a dinner at the end of the first training day.
The courses are hosted by seasoned experts from the industry and there is ample opportunity for posing 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.
Detailed information about the webinar and classroom training courses is available on the Stecis’ website: www.stecis.org also further information can be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: Chubb
Chubb is the world's largest publicly traded P&C insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. We combine the precision of craftsmanship with decades of experience to conceive, craft and deliver the very best insurance coverage and service to individuals and families, and businesses of all sizes. 
Chubb has more than $200 billion in assets and reported $46.8 billion of gross premiums written in 2021.
Chubb's core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best.
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