Welcome to the June 2021 issue of Credit Insurance News Digest. This issue is sponsored by Farosol.

Credit Insurance News
The UK government and trade credit insurers agree to end the temporary trade credit scheme. The UK government and the Association of British Insurers have announced that the temporary Trade Credit Reinsurance scheme will close on 30 June as planned. The announcement notes that the scheme has directly benefitted over half a million businesses and provided nearly £210 billion of cover. Participating insurers have indicated to the government that the scheme is no longer required, and they are keen to take back full underwriting control. Stuart Ramsden, Regional Director UK & Ireland at Atradius, commented: "The Trade Credit Reinsurance Scheme was revolutionary in terms of the blanket support it provided for the industry, enabling insurers to maintain underwriting stances on limits which would otherwise have been unfeasible due to the pronounced economic impact caused by Covid-19." To read the UK government's announcement go to https://www.gov.uk/government/news/update-on-the-trade-credit-reinsurance-scheme.
Global trade credit insurers have been resilient to the effects of the pandemic. Fitch Ratings has reported that it expects that sound risk underwriting, limited corporate insolvencies and government-backed reinsurance will help the global trade credit insurance sector see robust results in 2021. Furthermore, although most of the government support schemes will be phased out by the end of this month (June 2021) and, consequently, trade credit insurers could face increasing claims starting in Q3, Fitch Rating predicts that the impact should be largely offset by top-line growth due to rising insurance demand as the global economy recovers. In fact, as Fitch Ratings notes, the removal of government-backed reinsurance schemes should help support the sector's profitability in the next 12-24 months, as insurers will no longer have to cede the associated premiums. To read Fitch Rating's news release go to https://www.fitchratings.com/research/insurance/trade-credit-insurers-resilient-well-set-for-economic-recovery-20-05-2021.
Foodservice wholesalers lobby for an extension to the UK's Trade Credit Reinsurance Scheme fearing "essential credit limits will now be slashed." The Grocer had reported that following the news that the UK government's Trade Credit Reinsurance Scheme will expire on 30 June, foodservice wholesalers have asked Business Minister Paul Scully to make it clear to insurers publicly that cover should be extended. The article notes that that decision made by the UK government and the Association of British Insurers comes despite lobbying by the food and drink industry to extend the insurance ‘safety net’ for a further three months to coincide with the end of furlough. The CEO of one national wholesaler is quoted: “Getting insurance companies to honour old debts even when the government scheme was in place was a challenge. I believe they will offer virtually no credit insurance now.” To read The Grocer's article go to https://www.thegrocer.co.uk/wholesalers/wholesalers-sound-alarm-over-axing-of-governments-trade-credit-reinsurance-scheme/656692.article.
UK retailers call on the government to extend the trade credit reinsurance scheme. Retail Gazette has reported that retailers across the UK are calling on the government to extend the trade credit reinsurance scheme. The article advises that the British Retail Consortium (BRC) has written to UK business minister, Paul Scully, and warned that if trade credit insurers base their risk assessments on retailers’ recent financial performance, many will be left unprotected. The BRC also said that insurers need at least six months’ worth of consistently strong trading data to reassess coverage decisions, adding that even where such data existed, trade credit insurance companies have been slow to revisit underwriting decisions. This is compounded by concerns that lenders may be hesitant to extend uninsured credit to retailers after over a year of lockdown restrictions. To read Retail Gazette's article go to https://www.retailgazette.co.uk/blog/2021/06/retailers-call-on-govt-to-extend-credit-reinsurance-scheme/.
The UK's trade credit insurance scheme is an "excellent example" of industry-government collaboration. Insurance Business has reported that the Association of British Insurers' (ABI) Director General, Huw Evans, has praised the way in which trade credit insurers worked "closely and constructively" with the government on the UK's temporary credit insurance scheme. He also noted that the scheme has been an excellent example of how government and the industry can work together on solutions to unprecedented market challenges. UK Business Minister, Paul Scully, commented: “The scheme allowed trade to continue flowing despite the uncertainty caused by the pandemic, and it is only right that now our economic outlook has improved and businesses are getting back on their feet, the private sector resumes its role of providing insurance cover.” To read Insurance Business' article go to https://www.insurancebusinessmag.com/uk/news/breaking-news/abis-huw-evans-on-excellent-example-of-industrygovernment-collaboration-256271.aspx.
Expiry of the German state protection scheme for trade credit insurers. Astreos Credit has reported that German trade credit insurers and the German Government have decided that, as significant parts of Germany's economy have started to recover and trade credit insurers believe they are in a position to assess and bear the risk, the German state protection scheme will expire on 30 June 2021. According to Astreos Credit's article, although trade credit insurance policyholders "generally will not have to worry about large credit limit reductions or cancellations", there will be some credit limits in their portfolios that are currently only maintained due to the scheme and which, consequently, will be reduced or cancelled after the end of June — in most cases with a notice period. Astreos Credit also notes that trade credit insurers will "aim to increase the premium level upon renewal, even for claims-free policies," although when new business is attractive — from their point of view — "the offers are occasionally quite aggressive, both in terms of pricing and the scope of cover offered." To read Astreos Credit's article go to https://www.astreos-credit.com/2021-country-focus-germany/.
Podcast. The effects of COVID-19 on credit risks and trade credit insurance and how the industry can help companies grow. Marsh has published a 'Risk in Context' podcast in which Ian Watts, UK and Ireland Trade Credit Practice Leader at Marsh, and Özlem Özüner, Director of Market Management and Commercial Underwriting and Distribution at Euler Hermes UK and Ireland, discuss the effects of COVID-19 on credit risks and how trade credit insurance can help companies grow as the recovery from the pandemic continues. Ms Özüner notes that the industry was caught "off-guard" by the pandemic: "Credit insurers’ models are built to expect periodic downturns — not sudden halts in economic activity as seen amid the COVID-19 pandemic." As a result, she advises that historical data has become less relevant when assessing credit risk, and the industry's assessment methodology has adapted to place greater concentration on current trading levels, forward-looking statements, sectoral risk analysis, and communication with buyers. To listen to the podcast go to https://www.marsh.com/uk/insights/research/risk-in-context-podcast-trade-credit-role-in-the-economic-recovery.html.
Why the trade credit insurance market is ready for disruption. Remco Beuvens, Chief Development Officer Credit Solutions EMEA at Aon, and Gary Lorimer, Global Clients Director Credit Solutions EMEA at Aon, have co-authored an article that suggests that current increased premium costs due to current economic and cost of capital factors, and a relatively restricted capacity supply, means that the market is more than ready for disruption. This, they propose, should include technological solutions so that clients will not be limited to one capacity provider, and a more transparent blended cost between insurers to drive a better client experience and market longevity. Other steps required include policy simplification and a clear go-to-market strategy linked to financing and/or other distribution channels. "The prize is better cover for insureds, and a bigger premium pool for the entire market as more businesses reap the full benefits of using credit insurance." To read Aon's article go to https://www.aon.com/unitedkingdom/insights/credit-innovations.jsp.
More data from SMEs could improve the prices and terms their trade credit insurers offer them. According to the panelists who took part in a recent S&P Global Market Intelligence webinar, more data from SMEs could improve the prices and terms their trade credit insurers can offer. Flemming Bengtsen, founder and CEO of Nimbla, noted that government stimulus to alleviate the impact of the Coronavirus pandemic kept some companies afloat that may otherwise have failed, thereby creating an "enormous credit risk challenge." He added that trade credit insurers need the right data to price risk appropriately, but as SMEs do not produce the same amount of data as larger corporations, it is much more difficult to price those risks, and "obviously, that is also going to drive costs up." Natalie Botha, Head of Systems and Data Analytics at Marsh, advised that the more data gathered from a company, the better the presentation risk brokers can make to underwriters and the better the terms for clients. To read S&P Global's news release go to https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/data-key-to-improving-insurance-for-smes-64418264.   
Trade credit insurers now fear the bulk of bankruptcies will emerge in the second half of 2021 and 2022. The Berne Union's May BUlletin includes an article that examines how claims played out last year and considers what we might expect in 2021. The article advises that private insurers’ expectation for short-term claims in the first half of 2021 has been mixed. Initially, they expected increasing claims paid in the first three months, followed by a decrease in the second quarter of 2021. However, insurers now fear the bulk of bankruptcies will emerge in the second half of 2021 and 2022 once government support measures are phased out. The article also notes that some private insurers mainly have larger corporate clients who have had time to minimise their exposure to very vulnerable sectors, resulting in their current portfolios not being as sensitive to an eventual phase-out. Some insurers also note that the claims cycle has been elongated due to the support measures, suggesting that COVID-19 related claims may gradually emerge over several years. To read the Berne Union's article go to https://www.berneunion.org/Articles/Details/577/The-Insurers-Who-Cried-Claims.
10% more companies in China used trade credit insurance in 2020 than in 2019. Coface's latest Corporate Payment Survey for China reports that although 47% of the companies it surveyed admitted not using any credit management tool to mitigate cash-flow risks in 2020 (compared to 40% in 2019), a greater proportion of companies deployed more than one credit management tool. For example, the survey found that the percentage of firms using trade credit insurance increased from 17% in 2019 to 27% in 2020, while the number of companies in China using credit reports rose to 31% in 2020 — up significantly from 19% in 2019. Coface noted that the Chinese economy expanded by 2.3% in 2020 and was the only major economy to record growth. Looking ahead, Coface expects Chinese GDP to accelerate to a 7.5% growth this year, which would mark the economy's fastest growth since 2013 — comfortably above the minimum of 6% set by the authorities. To read Coface's news release go to https://www.coface.com/News-Publications/News/China-rising-payment-risks-in-construction-and-energy-sectors-despite-stronger-economic-outlook.
Credendo sets up a new specialised entity of non-standard trade credit insurance products and surety solutions. Credendo has announced that it has created a new specialised entity of non-standard trade credit insurance products and surety solutions by gathering all business lines of its two sister companies, Credendo - Excess & Surety and Credendo - Single Risk. Headquartered in Brussels, the newly merged company, Credendo – Guarantees & Speciality Risks, will be active across Europe through its branch offices based in Austria, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Poland, Spain and Switzerland. Eckhard Horst, the General Manager of Credendo – Guarantees & Speciality Risks, commented: “Six months ago, we began to prepare the merger of the operations for both companies, enhancing our processes while integrating valuable resources from the two companies. The enthusiasm of our teams during the merger process confirms that it was a step in the right direction." To read Credendo's news release go to https://credendo.com/en/knowledge-hub/credendo-completes-merger-credendo-excess-surety-and-credendo-single-risk.
1700 UK retailers could be at risk when pandemic support measures end. InfolinkGazette has advised that the recent administration of designer Amanda Wakeley’s eponymous fashion label AW Retail Limited highlights the vulnerability of UK retailers who may have been struggling even before the pandemic and for whom the withdrawal of trade credit insurance scheme could be catastrophic. Greg Connell, Managing Director of InfolinkGazette, commented: "There are over 1,700 UK retailers whose vulnerability to insolvency is largely mitigated by government stimulus measures implemented in response to the COVID-19 pandemic control measures, who will now be concerned that their COVID-19 impaired balance sheets will disqualify them from trade insurance cover when the scheme closes at the end of June”. Greg added: “it would be a catastrophe if these retailers were forced into insolvency before they had at least 6 months to repair their battered balance sheets. To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6.
Euler Hermes Japan launches a tailor-made medium-term trade credit insurance solution. Euler Hermes Japan has announced that it has launched a new medium-term trade credit insurance product, 'Cover One', designed for Japanese sectors and businesses looking for a "quick and easy solution using standard wording" to secure credit cover for up to three years. The product covers both the cost of goods already supplied and work in progress costs in case there is a payment default before the project is finished. Euler Hermes notes that this is particularly useful for the machinery manufacturing sector, as companies often have only one contract with a buyer, and it can take much longer from the date they receive the order until the project is completed and they are paid. Euler Hermes already offers a similar product in selected European markets, especially in Germany, but advises that Japan will be the first country in Asia where this product will be available. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_GL/APAC/newsroom/press-releases/euler-hermes-japan-launches-cover-one.html.
German GDP looks set to return to its pre-pandemic level in late 2021, although business bankruptcies will increase. Atradius' latest Country Report for Germany reports that despite the economic contraction in 2020, German business insolvencies decreased 15.5% year-on-year, to 15,800 cases, and continued to decline in the first two months of 2021. The decline was mainly due to a temporary bankruptcy moratorium and extensive fiscal support. However, with the expiry of temporary adjustments to the insolvency law and the phasing out of fiscal support, Atradius expects that business failures will increase again in H2 2021. On a brighter note, although GDP contracted by 1.8% quarter-on-quarter in the first quarter of 2021, Atradius predicts that, due to the ongoing vaccination rollout and easing of restrictions, economic activity in Germany will accelerate in Q2 2021, and the economy will return to its pre-pandemic level in late 2021. To read Atradius' report go to https://atradius.co.uk/reports/country-report-western-europe-germany-may-2021.html.
Webinar: The impact of digitalisation on trade. In the third event of its four-part series, ‘From crisis to opportunity: what’s the future of trade?’ Atradius gathered a panel of experts (including David Rowan – Founding editor of WIRED’s UK edition, Jean-Marc Noël – Co-founder and CEO of Trusted Shops, Frédéric Wittemans – Executive Director International Credit at Ingram Micro) to debate how businesses can harness the power of digitalisation, while minimising any associated risks. The panel discussed some of the major trends in digitalisation, including e-commerce, Everything as a Service and the potential that the Internet of Things presents for supply chain management. They also noted how digital tools are not a replacement for humans and that the expertise of people and interpersonal business relationships are still key. To watch the full 1-hour webinar and/or download Atradius' whitepaper go to https://group.atradius.com/virtual-event-series/the-impact-of-digitalisation-on-trade.html.
The return of the zombies: Will they survive? The Berne Union's latest BUlletin contains an article in which Valerio Ranciaro, Director General of SACE SRV, and Cinzia Guerrieri, Economist at SACE, look at vulnerabilities emerging from the build-up in business leverage after the pandemic and at how long zombie companies can survive. They note that, so far, the global financial system has been resilient, and the fiscal and monetary authorities have responded to the Covid-19 crisis in a massive, timely and coordinated manner. However, abundant liquidity, together with policies that prevent creditors from enforcing claims on struggling firms, have allowed unviable firms in the corporate sector to survive — to become 'zombies' — which can lead to structural slow growth, misallocation of credit, lower productivity and a less resilient financial system in the future. As economic recessions are always linked to waves of insolvency filings, they ask, "will zombie firms outlive the second half of 2021?" To read the Berne Union's article go to https://www.berneunion.org/Articles/Details/568/The-return-of-the-zombies-Will-they-survive.
French export barometer identifies the risk of non-payment as the main threat to activity. Euler Hermes' latest Export Barometer survey indicates that the risk of non-payment is cited as the main threat to activity by 62% of French exporters; a justified fear, it seems, as 38% of respondents have noticed an increase in the average payment time for exports over the past 12 months (+22 points compared to the previous edition of the Barometer). In addition, 22% of the exporters surveyed report having suffered at least one payment incident over the same period (+7 points). Looking ahead, after a drop of -16.6% in volume in 2020, Euler Hermes expects French exports to rise by +7.9% in 2021 and +6.6% in 2022, thanks to the cyclical recovery of demand from countries exiting the Covid-19 crisis. However, French exporters will need to wait until 2023 for a return to pre-crisis levels. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/news-insights/economic-insights/French-export-barometer-8-out-of-10-companies-aim-to-increase-exports-in-2021.html.
Increasing demand in the UAE is good news for UK exporters. Atradius' latest UAE Country Report reports that, after a deep 7% GDP contraction in 2020, the UAE is now on the path to recovery with GDP growth of 1% this year. However, Atradius forecasts economic growth could be as high as 3% in 2021 depending on the speed of domestic and global vaccination rollout and the subsequent containment of Coronavirus. UAE exports, which fell by just over 10% in 2020, are also expected to increase by more than 6% this year, while UAE imports are expected to grow more than 10% in 2021 after falling by around 7.5% last year. Tanya Giles, Head of SME business at Atradius UK, ROLE, commented: “Increasing demand in the UAE market is good news for UK exporters looking for new trade opportunities. Furthermore, the UAE has an added appeal to exporters as it is a major trading hub with the re-export of a wide range of goods accounting for almost 50% of its total merchandise exports. To read Atradius's report go to https://group.atradius.com/publications/country-report/mena-uae-may-2021.html.
Italian GDP looks set to rebound 4.5% this year, after a steep 8.9% contraction in 2020. Atradius' latest Country Report for Italy has advised that although the strong economic rebound seen in Italy in Q3 of 2020 did not last into Q4 or the first quarter of this year (Q1 GDP contracted 0.4%), it anticipates that Italy's economic activity will accelerate as of Q2, due to the ongoing vaccination rollout and easing of restrictions. According to Oxford Economics, Italian GDP is forecast to rebound 4.5% this year, after a steep 8.9% contraction last year. Both investments and exports will see growth above 10% year-on-year after double-digit contractions in 2020. As a result, Atradius has upgraded the credit risk/business performance outlook of some Italian major industries (automotive, chemicals, construction/construction/materials metals and steel, services). However, it stresses that, in most cases, this is from a very low level. To read Atradius' report go to https://group.atradius.com/publications/country-report/western-europe-italy-june-2021.html.
Euler Hermes Transactional Cover Unit (TCU) announces that Natixis has bound one of the first Green2Green policies. Euler Hermes has announced that Natixis has become one of its first participating partners in its Green2Green Single Risk credit insurance solution, a product first launched by its TCU team in November 2020 to tackle climate change by insuring green transactions and investing the premium in certified green bonds. Euler Hermes notes that this partnership was made possible with the support of insurance brokers, BPL Global and Howden Broking Group, "which play a key role in placing the insurance policy, and even more so for an initiative such as this one, which requires a common commitment from all stakeholders." To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/news-insights/news/euler-hermes-announces-natixis-as-one-of-its-first-partners-in-the-binding-of-green2green-single-risk.html.
2021 Country and Sector Risk Handbook — Analysis and Forecasts for 162 Countries and 13 Sectors. Coface has published its latest Country and Sector Risk Handbook for 2021. This issue includes country and business climate assessments for 162 countries, as well as sector risk and assessment of companies’ default rate. Both the country risk assessment and business climate assessment are given according to an 8-step scale: A1, A2, A3, A4, B, C, D, E, in order of increasing risk. The company default rate (DRA), which measures the default rate of companies worldwide, is calculated based on indicators such as financial soundness, profitability, solvency, as well as the company’s environment and management. The assessment scale ranges from 0 (company in default) to 10 (best possible rating). To download a copy go to https://cofaceitfirst.co.uk/2021-country-and-sector-risk-handbook/.
E-Cautio enters partnership with SCHUMANN. E-Cautio, a Luxembourg-based InsurTech company, Platform-as-a-Service provider, has announced a new partnership with SCHUMANN for the use of SCHUMANN’s CAM Surety Software. Philippe Kauffman, CEO of E-Cautio, commented: “Innovation through new technologies is a key driver of change in the insurance sector.  . .  In order to become an industry leader, insurance companies, insurance brokers, MGAs or even banks should embrace automation to switch their core operations to auto-pilot.” To read Schumann's news release go to https://prof-schumann.com/news/e-cautio-enters-partnership-with-schumann.
Good luck to
Derek Barnett Director, W. Denis Credit Risks Ltd.
From the 4-12 September, Derek will be taking part in the 2021 Deloitte Ride Across Britain event and fundraising for three amazing charities; Maggie’s Centres and Macmillan Cancer Support, for the incredible caring work they provide to cancer sufferers and their families and especially their end of life care, and also for Cancer Research UK for its efforts to prevent, diagnose and treat cancer. 
Derek said: "Some of you will recall that I took part in the above event back in 2016. Five years on, the memories of the utter exhaustion and severe saddle soreness have faded somewhat, so I’ve decided to give it another go this year. The event, brilliantly organised and sponsored by the accountancy firm Deloitte, takes place over nine days cycling back to back from Lands End to John O'Groats. A total of 970 miles at a little over 100 miles a day."
Please help Derek make a difference by making a donation at his Virgin Money Giving page at https://uk.virginmoneygiving.com/DerekBarnett2.
A message from QBE: John Cross memorial Cricket match — 2 September 2021.
Following on from our announcement in February’s Credit Insurance news about the passing of John Cross, QBE has announced Thursday 2nd September 2021 as the date for an industry gathering to celebrate John’s life. The event will take place at The John Roan School Playing Fields, 50 Kidbrooke Park Road London SE3 9NF starting at 2 pm.
John had a keen interest in cricket, more often with a glass in hand than the bat. The aim is to make this very much a celebration and we would hope as many of you as possible would like to participate. With this in mind, we are looking for male and female players (you don’t need to be a serious club cricketer) so we can formalise whether we have a number of competitions or a T20 style 11 v 11.
If you wish to put yourself or a team forward, please let Lee Stubbington (Lee.Stubbington@uk.qbe.com) or James Burgess (James.Burgess@atradius.com) know. 
There will be a bar open all afternoon and evening, and we also hope to raise funds for Saint Francis Hospice in Romford, which cared for John’s mum.
We look forward to hearing from you.
New Appointments
Attis Credit Solutions has announced that it has made two senior appointments:
  • Martin Davey will join Attis Credit Solutions as Client Director, effective as of 14 June 2021. Martin has over 30 years experience in sourcing credit insurance and working capital solutions for clients, 28 years of which were at Reynolds and Acumen. He was also one of the original shareholders in Reynolds. 
  • Richard Webster is joining the board of Attis Credit Solutions as a Non-Executive Director. Richard was formerly CEO of Euler Hermes UK, and Global Head of Trade Credit at AIG.
UK Export Finance has appointed Mark Rogers as a Senior Underwriter. Mark previously worked as Head of Underwriting UK & Eire Surety at EBA Insurance Services Limited, and, before that, that held underwriting positions at CIFS and Coface.
CMR Insurance Services has announced that it has appointed Stephen Uwins to the role of Scheme Director for Trade Credit Insurance within the CMR Insurance Services division of PIB Group. Stephen has been with CMR Insurance Services for nearly thirteen years, with his most recent role being Marketing Manager.
Lockton Australia has appointed Lydia Woolf as Senior Associate, Surety, Credit & Political Risks. Lydia joins Lockton from NCI (National Credit Insurance (Brokers) Pty Ltd). Lydia remains based in Sydney, Australia.
Marsh McLennan has appointed David Kinzel as Vice President - Structured Credit & Political Risk, based in Denver, Colorado. David joins Marsh McLennan from Alliant Insurance Services, where he was Vice President - Global Solutions.
AIG’s UK Trade Credit team has announced the appointment of Grant Williams who joined the London team on 7 June 2021 as a Senior Underwriter. Grant has many years in senior leadership/management roles in risk and commercial underwriting, and a commitment to strong customer focus. He joins AIG from Coface.
Euler Hermes has announced that Sarah Murrow has been appointed as CEO of its UK and Ireland business, succeeding Milo Bogaerts (see below). Sarah moves from her role as the Market Management, Commercial Underwriting and Distribution Director for Northern Europe, and will be the first woman to head up Euler Hermes’ UK and Ireland business. She will remain based in London. Sarah joined Euler Hermes in 2004 in its Baltimore office, and previously held senior management roles in the US and France. 
Euler Hermes has announced key changes to its Board of Management and Regional Management teams.
  • Michele Pignotti, member of the Group Board of Management in charge of Market Management, Commercial and Distribution, will be leaving the company on 20 June 2021 to pursue new challenges within Solunion in Spain. He will be replaced by Anil Berry on 21 June 2021. Anil is currently CEO of the Euler Hermes' multinationals business.
    Holger Schäfer will succeed Anil Berry as CEO of Euler Hermes’ World Agency, effective 1 July 2021. Holger joined Euler Hermes in 2016 as the Head of the Asia Pacific Region. Paul Flanagan will succeed Holger Schäfer as CEO of the APAC Region, effective 1 July 2021. Paul was most recently employed as Euler Hermes' CEO for Poland.
  • Frédéric Bizière, member of the Group Board of Management in charge of Credit Intelligence and Reinsurance, will be leaving the company on 20 June 2021 to pursue new challenges within the Allianz Group. He will be replaced by Fabrice Desnos effective 21 June 2021. Fabrice is currently CEO of the Northern Europe Region.
    Milo Bogaerts will succeed Fabrice Desnos as CEO of the Northern Europe Region, effective 1 June 2021. Milo has been CEO for Euler Hermes UK & Ireland since 2017.
Events & Professional Development
TXF Export Finance Virtual World Fair, 8-10 June.
TXF Export Finance Virtual World Fair is the largest and leading conference for the export and project finance industry, and we will be welcoming over 2500 attendees through our virtual doors composed of state ministers, CEOs of large cap industrial companies, ECAs, DFIs, agencies, borrowers, SOEs, exporters and financial institutions.
As the world recovers from the pandemic, we bring the market together to discuss leveraging the tools of export finance to rebuild the global economy. The TXF World Fair 2021, June, 8-10, welcomes banking, agency and corporate CEOs, government ministries and industry specialists to strategize how to spur growth in both sustainable and traditional export credit sectors.
Connect with 2500+ borrowers, SOEs, agencies and FIs, though our networking messenger app and tailored forums for the chance to make real connections, and ultimately deal opportunities.
Gain the latest insight on:
  • Financing climate and social projects
  • Energy transition
  • Paris Agreement compliant portfolios
  • Legislation and OECD consensus
  • Reviving cruise and aviation sectors
  • The future of oil and gas
  • Evolving export credit business models
To find the agenda for the virtual event this 8-10 June click here.
To find out more and register please contact: natasha.warne@txfmedia.com.
GTR US 2021. 16-17 June 2021.
Providing the first installment of GTR’s hybrid offering for 2021, GTR US will return in virtual format on June 16-17, followed by a physical gathering in New York, NY on December 8. Reviewing the key events driving trade disruption across the US during the first half of 2021, this virtual gathering will provide unique networking opportunities and the chance to reflect on trade during the first months of President Biden’s administration, the contagion risks associated with recent high profile insolvencies in the supply chain finance space, and the latest digital innovations being implemented by the region’s leading corporates and trade finance lenders. Don’t miss the chance to join hundreds of your industry peers for the latest take on the trade growth opportunities emerging across a resurgent US economy, and the risk management and working capital optimization strategies and solutions boosting the bottom line in a challenging business climate.
For more information and to book your place, please go to https://www.gtreview.com/events/virtual/gtr-us-2021/.
Atradius Webinar: De-globalisation – a new way to trade, but will it stick?
In the final event of our series, From crisis to opportunity: what’s the future of trade? we’ll explore the subject of de-globalisation. Most commentators currently agree that all signs point to a slow-down in cross-border trade relative to GDP. But not every economist agrees on what this signifies. Does it represent the first stages of a permanent state of de-globalisation? Will we see an acceleration of de-coupling and re-shoring? Or are we simply witnessing a small dip within an overall trend of increasing globalisation?
We’ll ask our panel to share their thoughts on key issues and trends that your business should be looking at right now and at how businesses may best adapt to changing markets and varying models of international trade.
When: Wednesday, 23 June 2021, 10:00 AM BST
Where: In front of your computer with a good cup of coffee
Time: 45 minute panel discussion - with 15 minutes live Q&A
Register Here
The event will be moderated by Daisy McAndrew (former Economics Editor and Chief Political Correspondent for ITV News) and will feature some of the world’s leading voices on global economics and international business, including:
  • Dr Linda Yueh – Leading economist on global trends, Fellow in Economics, St Edmund Hall, Oxford University and Adjunct Professor of Economics, London Business School 
  • Valter Viero – Assistant Financial Director, Acciaierie Valbruna SpA 
  • Bart Jan Koopman – Director of Evofenedex, the Dutch trade association 
  • Eric den Boogert – Managing Director Asia, Atradius
National Credit Awards 2021. 21 October 2021. The Waldorf Hilton, London.
New for 2021, MoneyAge is proud to present the National Credit Awards.
The awards are designed to honour the outstanding professionals and firms in the many varied fields of the credit industry, to recognise, celebrate, and promote best practice, to support continuing development, and to contribute towards raising the standards within the credit arena.
The awards are free to enter and you can enter as many categories as you like.
Head over to the website to find out more.
SUBMIT YOUR ENTRY: https://www.moneyage.co.uk/creditawards/index.php.
Deadline for entries: 25 June 2021
Stecis is getting back on track with Webinars, Classroom courses and Masterclasses.
As we all hope that the Covid-19 pandemic is under control after the summer, STECIS has planned again a number of classroom courses in November 2021. For Trade Credit Insurance and Surety Bonds, at each Foundation and Advanced courses will be offered in the vicinity of Amsterdam Schiphol. In case still necessary, all applicable Covid-19 restrictions will be in place during the classroom training courses. During the classroom trainings real, practical cases will be discussed. Additionally, various webinars on both Trade Credit Insurance and Surety Bonds have been already scheduled throughout the year. These webinars are interesting to all individuals who are starting their career in the TCI and/or Surety Bonds industry, but also for all other interested parties like brokers, re-insurers´ employees, lawyers, credit managers etc.
To expand our offering STECIS is currently developing three masterclasses on Trade Credit Insurance that will address the following topics: TCI and Digitalisation, Non-traditional TCI products and TCI and Finance. These masterclasses will be hold by top experts from the TCI industry presenting the recent developments and trends in the field of TCI. Joining these masterclass will be not only be an excellent way to keep up to date with important developments in the TCI world. The courses are also an excellent means to increase your professional network as you will meet other participants and top experts from the industry.
When the outlines of the three masterclasses are available, they will be shared via Credit Insurance News and the website of Stecis.
More information can be found on the Stecis’ website: www.stecis.org.
All courses will run at the Steigenberger Hotel at Amsterdam-Schiphol.
Further information can be obtained by sending an email to: info@stecis.org.

About the Sponsor: Farosol
Farosol is an international network of specialist credit insurance brokers serving more than 20 countries around the world. In order to maximise this network of innovative ideas, members have completed questionnaires reporting on the effect of the Covid pandemic on the industry, which has given great insight at both national and global levels. This means that the Farosol broking team continues to provide an unrivalled range of tailored credit insurance products as well as complementary services in the field of credit management, including asset-based finance.
Farosol members cover multiple countries to provide a seamless international footprint offering a significant direct advantage for their clients. This enables international companies using Farosol’s services to negotiate globally competitive rates for cross-border solutions in both credit insurance and credit management whilst still being serviced by independent brokers with local expertise. The best of both worlds!
Farosol’s ethos is based on expertise, close relationships, service quality, fairness and information transparency delivered with passion and enthusiasm making it an unrivalled partner for quality risk transfer and credit management programmes.
Client needs are paramount in Farosol’s approach, working across frontiers to put winning strategies in place. In this recent survey of its membership to assess the impact of the Corona epidemic on the global credit insurance marketplace for their customers, a number of themes were evident which supported the ‘thinking globally acting locally’ ethos. For further analysis specific to your region visit the Farosol website (www.farosol.com).
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