Welcome to the April 2021 issue of Credit Insurance News Digest. This issue is sponsored by InfolinkGazette.

Index
 
Credit Management News Digest
PLUS: This month's featured article, 'Pushing the Envelope – Greensill Capital', by Greg Connell, Managing Director of InfolinkGazette.
Credit Insurance News
Cooperation between credit insurers, export credit agencies and governments proves "how far we have come since 2008". Trade Finance Global (TFG) has published an article by Vinco David, Berne Union Secretary General, highlighting how the trade credit insurance market has responded "fast and robustly" to the challenges posed by COVID-19. The article notes that cooperation between the private sector, ECAs, and governments, has enabled insurers to respond very differently compared to the global financial crisis of 2008-9, with capacity for trade credit insurance maintained largely without disruption. Looking ahead, the article cautions that the winding up of credit insurance support schemes needs to be carefully managed. "A sudden end could send a shock through the market, in a worst-case scenario making the prudent underwriting of new credit risk for some classes of business very difficult." To read TFG's article go to https://www.tradefinanceglobal.com/posts/supporting-exporters-through-the-pandemic/.
What does 2021 hold in store for credit insurance? Trade Finance Global (TFG) has published an article in which Rob Nijhout, Executive Director of the International Credit Insurance and Surety Association (ICISA), stresses that the back-stop government reinsurance schemes that were put in place in several countries "are not a free ride for insurers. Administration of schemes is both resource-intense and expensive." He also notes that although the effect of these schemes on risk appetite has been mixed, "in general, exposures were reduced selectively or not at all, and this applies to countries with and without a credit risk support scheme." Looking ahead, the majority of ICISA's trade credit members anticipate an increase in demand for credit insurance cover in 2021, and an even larger majority of underwriters expect an increase in claims paid. Almost all trade credit members of ICISA expect a sharp increase in payment defaults this year. To read TFG's article go to https://www.tradefinanceglobal.com/posts/what-does-2021-hold-in-store-for-credit-insurance/.
The fall of Greensill Capital: Lessons learned from a credit insurance perspective. TXF has published an article by Robert Deeley, Managing Director at PolFin, which examines the role of trade credit insurance in the collapse of Greensill Capital. The article notes that the withdrawal of trade credit insurance shows neither "poor business practises on the insurers part or some inherent defect with the credit insurance product." Not only would Greensill have known that cover could be cancelled or not renewed, but documents from the Australian courts indicate that Bond & Credit, Greensill’s insurers, gave 180 days’ notice. Furthermore, Lex Greensill's own comments indicate that he was fully aware that cover could cease to be offered at any time. Mr Deeley concludes: "In my view, credit insurance was being incorrectly relied upon by Greensill on an enormous scale and this reliance caused Greensill’s downfall . . . Why such reliance was placed on a seemingly limitless availability of credit insurance, I cannot personally fathom." To read TXF's article go to https://www.txfnews.com/News/Article/7143/The-fall-of-Greensill-Capital-Lessons-learned-from-a-credit-insurance-perspectiv.
Tokio Marine addresses speculation on Greensill exposure. Insurance Business has reported that Tokio Marine has addressed speculation* regarding its subsidiary company, The Bond & Credit Company Co., and its relationship with Greensill Capital. The insurer noted that it currently anticipates no material impact on its financials for the next fiscal year due to its exposure to the fallout of Greensill’s collapse and that, while it will continue to monitor the situation as needed, its expected net exposure remains unchanged. In a press release, Tokio Marine noted: “Although it is our general policy not to comment on individual policyholder relationships or policy terms, the publicity regarding this matter requires some clarification.” To read Insurance Business' article go to https://www.insurancebusinessmag.com/us/news/breaking-news/tokio-marine-addresses-speculation-on-greensill-exposure-250209.aspx.
For example, *Tokio Marine’s reinsurance may not cover Greensill losses: reports, Reinsurance News, 19 March - https://www.reinsurancene.ws/tokio-marines-reinsurance-may-not-cover-greensill-losses-reports/.
Credit Suisse faces fallout from the Greensill debacle. Insurance Business has reported that Credit Suisse is facing fallout from the collapse of Greensill Capital. According to a Reuters report, Credit Suisse told investors that the debt in its US$7.3 billion finance fund was low-risk because it was insured. “The underlying credit risk of the notes is fully insured by highly rated insurance companies," according to the bank's marketing statements. However, Credit Suisse reportedly failed to talk directly to Tokio Marine to confirm that the insurer had no concerns about the policies' validity or that the debt it purchased from Greensill was actually covered, according to Reuters. Rather, the bank relied on emailed updates from Marsh McLennan, the broker that arranged the policies for Greensill, although it didn’t check with Marsh about whether Tokio Marine still intended to honour the contracts. To read Insurance Business' article go to https://www.insurancebusinessmag.com/us/news/breaking-news/credit-suisse-faces-fallout-from-greensill-debacle-251249.aspx.
Trade credit capacity an issue? Consider a captive. Marsh has published an article that reports that as more trade credit insurers pull back on trade credit capacity, raise prices, and become more reluctant to take on new risks — particularly in sectors impacted by COVID-19 — it has become more difficult for businesses to secure their customary levels of coverage which has, consequently, encouraged some to explore alternative ways to secure trade credit insurance. Although captive owners have often formerly been reluctant to take on "what they perceive to be a complicated claims administration process and demanding underwriting requirements", in the current challenging environment, "reluctance is slowly being replaced by a recognition of the benefits that captives can offer when partnered with the right trade credit insurer and policy structure." Marsh notes that In 2018-2019, the number of captives writing trade credit had already increased by 14%, with an 86% increase in trade credit premium volume written through captives. Data is not yet available for 2020, but Marsh advises that indications suggest that this trend continued. To read Marsh's article go to https://www.marsh.com/nz/insights/risk-in-context/trade-credit-capacity-an-issue-consider-a-captive0.html.
Anticipating a spike in UK insolvencies, Marsh advises UK businesses to engage with their trade credit insurance broker. Marsh has published a new article in which Robert Butler, Practice Leader - Trade Credit at Marsh Birmingham, warns that the measures taken by the UK government during the pandemic to reduce the number of companies starting insolvency proceedings and avoid overwhelming the courts, have created opportunities for unviable, zombie businesses to survive. He notes that, although the "zombification of the economy" started before the COVID-19 pandemic, the crisis has intensified the issue and, as a result, it is now difficult to distinguish between viable and unviable businesses. Invariably, there will be a fallout when the support from the Government is withdrawn. Marsh’s advice for businesses is to engage with their broker: "they can advise of any information required by your credit insurer not only to write cover, but they can also identify and steer you away from any potential bad debts." To read Marsh's article go to https://www.marsh.com/uk/insights/research/impact-of-extended-uk-government-support.html.
Xenia Broking Group announces an agreement to acquire Status Credit Insurance Brokers Ltd. Xenia Broking Group has announced that it has entered into an agreement to acquire Status Credit Insurance Brokers Ltd., a specialist trade credit broker headquartered in East Sussex, UK. According to Xenia's news release, the transaction will complete in April 2021, following which Xenia will integrate Status with its regulated entity Credit Risk Solutions Ltd. Xenia was formed through the union of two specialist credit insurance brokers, Credit Risk Solutions and Credit & Business Finance, acquired in 2017 and 2019, respectively. With the 2020 acquisition of the Howden trade credit team, Xenia said it is positioned as one of the largest credit insurance brokers in the UK. To read Xenia Broking Group's news release go to https://xeniabroking.com/news-and-insights/xenia-strengthens-team-by-acquiring-status-credit.
Scope Group acquires Euler Hermes Rating. Scope Group has announced that it has acquired Euler Hermes Rating GmbH as of 1 January 2021. Euler Hermes Rating GmbH was founded in 2001 as an independent European rating agency of the Euler Hermes and Allianz Groups, focusing on Corporate and Project credit ratings and non-regulated products and services. Further to its acquisition by Scope Group, the Company now operates under the new name of Scope Hamburg GmbH. The firm’s analytical focus is primarily on small and medium-sized enterprises and infrastructure project finance. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/news-insights/news/scope-group-acquires-euler-hermes-rating.html.
Businesses advised to be cautious amidst forecast surge in insolvencies. Atradius’ latest Insolvency Forecast reveals that UK business failures are expected to rise by 56% in 2021 - nearly double the global average. This increase follows a year of anomaly where governments, including the UK, introduced fiscal measures and bankruptcies regime changes to protect businesses from failure. As a result, insolvencies in the UK fell by 27%. However, as support is gradually unwound, a sizeable U-turn in failures rates is expected, and Atradius' analysis of cumulative insolvency growth demonstrates that UK bankruptcy levels at the end of 2021 will be 14% higher than in 2019. Atradius also notes that a strict lockdown and Brexit uncertainty contributed to a 9.9% drop in GDP in 2020 and forecasts the UK economy will expand 5.9% in 2021, covering around half of the GDP losses from the pandemic. To read Atradius' news release go to https://atradius.co.uk/reports/economic-research-2021-a-turn-of-the-tide-in-insolvencies.html.
The credit and political risk insurance market is rising to the challenge on claims. Commercial Risk has published an article that reports that BPL Global's latest analysis of the credit and political risk insurance market (CPRI) market shows a positive picture in terms of claims paid by insurers. According to BPL Global's latest Market Insight, based on a survey carried out in partnership with the Lloyd’s Market Association and International Underwriting Association, between 2007 and 2020, the CPRI market faced claims from banks and financial institutions that reached US$$3.75 billion, of which US$3.63 billion was paid in full. BPL Global alone handled 26% of these claims by value. Looking ahead, while the report hints that the impact of the pandemic and associated political fallout will have an impact on this market, this has yet to be really felt and could "take considerable time to filter through”. To read Commercial Risk's article go to https://www.commercialriskonline.com/cpri-market-rising-to-the-challenge-on-claims-says-bpl/.
Supply Chain Finance solutions remain key to trade and recovery. Willis Towers Watson (WTW) has published an article that notes that although there has been significant recent press coverage of Supply Chain Finance and trade credit Insurance following the recent demise of Greensill, both remain critical tools to help facilitate trade while providing needed liquidity. The article suggests that institutions that continue to demonstrate credit evaluation rooted in fundamentals and who use trade credit insurance as a risk mitigation tool first, and sales enhancement second, are likely to find a receptive audience among trade credit insurers. Similarly, banks who have historically purchased the product for purely Risk Mitigation or Capital Relief purposes are also likely to find continued support from the trade credit insurance market. To read WTW's article go to https://www.willistowerswatson.com/en-GB/Insights/2021/03/supply-chain-finance-solutions-remain-key-to-trade-and-recovery.
Global corporate insolvencies are forecast to increase by 26% in 2021 — despite an improved GDP performance. A new report from Atradius predicts that as pandemic support measures are phased out, global corporate insolvencies in 2021 will increase to a level 26% higher than in 2020. Atradius expects the highest increases in business failures to occur in countries that had strong government measures in place in 2020, most notably Australia (88% increase), followed by France, Singapore and Austria, with increases of 80%, 75% and 73% respectively. Atradius also notes that although global growth in Q1 of 2021 is likely to remain modest, an acceleration of GDP will occur in the rest of the year with an overall growth of 6.0% expected in 2021 (compared to a 3.7% contraction in 2020). However, the pace of GDP recovery will vary significantly around the world, with countries that experienced the deepest recessions in 2020 generally set to witness the strongest expansion in 2021. To read Atradius' news release go to https://atradius.co.uk/reports/economic-research-2021-a-turn-of-the-tide-in-insolvencies.html.
The US stimulus plan paves the way for a record trade deficit. In its latest economic analysis, Coface predicts that, after a 3.5% contraction in 2020, US GDP will rebound by 5.7% this year, which would allow the US economy to return to its pre-crisis level as early as mid-2021 — ahead of most advanced economies. However, Coface notes that the powerful rebound is partly driven by the unprecedented fiscal response to the crisis, with a US$1.9 trillion support package adopted in March, which will bring the total fiscal response to the crisis to an amount equivalent to 27% of US GDP — more than any other mature economy. Furthermore, Coface cautions that the US’ rapid deployment of the COVID-19 vaccine, in conjunction with the stimulus package, will fuel demand for imports and lay the foundation for a record trade deficit. Coface advises that the trade deficit had already reached a record level of over US$900 billion in 2020. To read Coface's news release go to https://www.coface.com/News-Publications/News/United-States-Stimulus-plan-paves-the-way-for-record-trade-deficit.
UK economy 2021: A bumpy road ahead. Financial Director has published an article in which Milo Bogaerts, CEO of Euler Hermes UK & Ireland, explores the UK’s economic outlook in 2021 and argues that a full recovery is unlikely to materialise for another two years at least. He notes that Euler Hermes' research suggests GDP growth in the UK is likely to be limited to just 2.5% this year — starting from a relatively low base — and that chief among the issues facing the UK economy is the impact of Brexit on its exporters. Data from Euler Hermes, for example, indicates that UK export-focused businesses could see sales fall by as much as £25 billion this year due to weak demand and increased red tape. Further risks include the insolvency chain reaction, which can be triggered if a business within a supply chain goes bust. To read Financial Director's article go to https://www.financialdirector.co.uk/2021/03/19/uk-economy-2021-a-bumpy-road-ahead/.
How trade credit insurance goes much further than other forms of insurance. Karl Hague, CEO & Founder of Ko-bolt, has published 'Switch on your cashflow', a free, detailed guide to credit management strategies, which includes glossary trade credit insurance terms, an overview of the merits of credit insurance and, for prospective trade credit insurance clients, the benefits of using the services of a broker. The ebook stresses that there is no other product like trade credit insurance, and although it isn't cheap in comparison to other forms of insurance, "the chance of a credit insurance claim is far higher, and the risk determines the price of insurance." Furthermore, "the additional growth, confidence, and peace of mind that comes as a benefit of the protection means that a credit insurance policy pays for itself many times." To obtain a copy of 'Switch on your cashflow', go to https://www.ko-bolt.com/credit-management-guide/.
100 years in bubbles: Credendo publishes a comic book to mark its centenary. As part of its 100th-anniversary celebrations, Credendo, founded as Delcredere in 1921, has created a comic book created in the style of an action film, which offers a glimpse behind the scenes of the group. Nabil Jijakli, Group Deputy CEO of Credendo, explained: “In 100 years of Credendo, we have built up quite a store of anecdotes that illustrate the hidden side of our work. Credendo gave two seasoned comic book authors, Luca Malisan (line art) and Rudi Miel (storyline), the task of devising a plot based on incidents and memories shared with them by our employees.” The hardback volume, published in 10 languages and with a print run of 10,000 copies, includes 44 cartoon plates and a glossary of terms to answer any questions raised by the plot. To read Credendo's news release go to https://www.credendo.com/press/100-years-bubbles-16032021.
Get to know two of Markels' trade credit insurance experts. Markel has published interviews with Arjan Van De Wall, Markel's Head of Trade Credit & Political Risk Americas, and Nicola Marriage, Senior Underwriter & Head of Political Risk at Markel in London. Both talk about what they most love about their job and what led to their choice of career. Arjun also answers the question, "How would you describe your job to a bunch of five-year-olds?" while Nicola tackles, "What three objects summarise you as a person?"
To read Arjan's interview, go to https://performancefreed.markel.com/news/getting-to-know-arjan-van-de-wall.
To read Nicola's interview, go to https://performancefreed.markel.com/news/getting-to-know-nicola-marriage.
Podcast: The future of trade credit insurance. Atradius Australia has published a podcast in which an expert panel including Mark Hoppe, Managing Director of Atradius Oceania, Dirk Hagener, Atradius Director of Strategy and Corporate Development and Stephen Koukoulas, one of Australia's leading economists, discuss the future of trade credit insurance and the relevance of credit insurance for businesses in 2021. Other areas discussed include how digitalisation is shaping credit insurance and risk mitigation and the economic factors sparking more interest in the product. To listen to the podcast go to https://blubrry.com/atradius/75308498/ep-08-the-future-of-trade-credit-insurance.
COVID-19 recovery: 7 obstacles to overcome. Euler Hermes has published a report which suggests that the global recovery is on the right track. Global GDP is expected to rebound by 5.1% in 2021, with one-fourth of the recovery being driven by the US, which is predicted to recover its COVID-19 losses in H2. In 2022, Euler Hermes predicts that world GDP growth should reach 4.0%, although it cautions that the race to recovery will hinge on seven key obstacles, including speed of vaccination rollout, the effective phasing out assistance mechanisms, and global supply chain issues. For the latter, the report notes that bottlenecks in the global supply chain are currently as high as during the peak of the pandemic and look set to push global trade into a borderline recession in Q2 2021. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/news-insights/economic-insights/Race-to-the-post-Covid-19-recovery-7-obstacles-to-overcome.html.
Coface warns that 2020's insolvency figures are "a mirage". A new report by Coface has warned that, according to its model, insolvencies in 2020 should have grown by 19% in Spain, 6% in France, 6% in Germany, and 7% in Italy. That they instead decreased suggests that many insolvencies have been postponed rather than prevented, meaning 2020 has left a large number of “hidden insolvencies” that are taking much longer than usual to materialise. Coface warns that there is likely to be a “catch-up” process starting in 2021, which will directly correlate with the rate at which restrictive measures end. This, in turn, will be determined by the speed at which vaccinations are rolled out and governments’ willingness to continue providing support, as well as the extent to which policymakers are willing to let companies fail. To read Coface's news release, with a link to the full report, go to https://cofaceitfirst.co.uk/the-paradox-of-corporate-insolvencies-in-europemiracle-and-mirage/.
Navigating the brave new world of trade. The Berne Union has announced that it has published its latest BUlletin for March 2021, which, this month, explores some of the major structural issues affecting trade policy and practice. Articles include: 
  • An examination of trade and trade finance in the COVID-19 crisis, 
  • China’s foreign trade and export credit insurance amid COVID-19, 
  • Transparent exporting in a post-Brexit world, 
  • Greensill: Lessons, impact, and opportunities for insurers, 
  • Claims are Coming: Insights from Berne Union Data and Research. 
To download a copy of the BUlletin go to https://www.berneunion.org/Publications/Details/43.
The ICISA Insider. The The International Credit Insurance & Surety Association (ICISA) has published the latest issue of The ICISA Insider, its tri-annual online magazine that offers a wide array of articles related to trade credit insurance and interviews with people in the industry. In this issue, articles include: 
  • Evolution of London Single Risk Credit Market, 
  • Credit Insurance Schemes Return To Focus, 
  • Brexit and the CPRI market: plus ça change... Insight by Charles Berry, 
  • Preparing For The Unknown – Examining The Policy Landscape For Re-Opening The Economy, 
  • Surge in demand for credit insurance and surety cover expected in 2021.
Post-publication Update: A message from Rycroft Associates
“It is with great sadness that we have to announce the death of our friend and colleague, Colin Fyles.
Colin passed away unexpectedly on Monday and will be greatly missed by everyone at Rycroft Associates.
Colin was highly respected by both Clients and colleagues and will be missed immensely by all those who had the pleasure of knowing him.
On behalf of all of us at Rycroft Associates, we offer Colin’s family and friends our most heartfelt condolences and sympathy at this difficult time.”
A comment on UK Insolvencies and Free Offer
InfolinkGazette forecasts a sharp rise in UK insolvencies later this year. The chart below shows how UK insolvencies have trended before and during the pandemic, and for the most part demonstrates the extent to which government stimulus measures are largely working. Insolvencies remain well below normal levels and are not showing any signs of picking up in the near term. The extension of the statutory Ban on commercial evictions to 30 June 2021, ongoing forbearance from HMRC, easy access to government underwritten loans and the furlough scheme have combined to ensure that even the businesses that weren’t viable before the pandemic are avoiding insolvency.
However, InfolinkGazette expects to see insolvencies begin to move upwards in July 2021 when landlords are able to resume enforcement action. Insolvent retailers and restaurateurs will head for the exit, many via a pre-pack, which will drive up Administrations and, as negotiations with landlords breakdown, there will be others that can’t pay that will be forced in to Insolvency. The real surge may not begin until after furlough ends in October 2021.
Greg Connell, Managing Director of InfolinkGazette, commented: "Even if post pandemic trading profits replaces the reliance on government stimulus measures for the majority, there are still between 5,000 and 10,000 companies with a pre-pandemic vulnerability to insolvency, where the reprieve has only been temporary. Insolvencies will rise sharply from October onwards and suppliers would be well advised to prepare by assessing their trade credit insurance cover."

Free 30-day trial of InfolinkGazette's database. InfolinkGazette, the only online provider of unsecured creditor lists in the UK, is offering readers a free 30-day trial of their service, with access to a database (updated weekly) of over 1,000,000 unsecured trade creditors from insolvent UK companies. This enables users to view the most recent unsecured creditor data and search unsecured creditor data based on key search parameters, such as size of debt or geographic location, as well as set up alerts to be notified by email if a particular prospect becomes an unsecured creditor, or more general alerts such as losses over a specific figure, in a particular post code. To receive a password go to https://www.infolinkgazette.com/?pid=4 or call Greg Connell, Managing Director, on 07753 739752.
New Appointments
Coface has announced that Declan Daly has been appointed to the newly created role of Chief Operating Officer of the Coface Group, effective on 1 April. He will continue to report directly to Xavier Durand, Coface Group's Chief Executive Officer, and will join the Group's Executive Committee. Declan has been Chief Executive Officer of the Central & Eastern Europe Region at Coface since 2017.
Zurich has appointed Kuljeet Ubhi as Senior Underwriter. During his 15 years experience in the trade credit insurance industry, Kuljeet has worked for Coface, Euler Hermes, Equinox Global and, most recently, QBE.
Charles Taylor Adjusting has announced that it has strengthened its team for political risk and credit with the hire Ed Brittenham as a Consultant. Ed brings over 30+ years experience in underwriting, credit risk and claims management, and was latterly Chief Underwriting Officer, Credit Lines at AIG.
PIB Insurance has appointed Colin Sanders as a Business Development Manager. Colin formerly worked as a Senior Business Executive at Onguard Holding, and prior to that was Head of Operations at Graydon UK.
The Berne Union has announced that Didem Bayseferogullari has been appointed Committee Manager responsible for managing the ECA Committee. Didem previously worked as a specialist at Turk Eximbank.
Euler Hermes has announced key organisational changes to its Transactional Cover Unit (TCU) and Investment Solutions teams. Isabelle Girardet has been appointed Global Head of Investment Solutions & Director of TCU Strategy after ten years of leading the Transactional Cover Unit. Christophe White will take over the role of Global Head of TCU, after nearly four years as the Regional Head of TCU in London. Christophe will be supported in his new role by Pierre Lamourelle, as his deputy and new Head of Underwriting,
Miller Insurance Services has appointed Jessica Colbear as an account handler/broker within its financial institutions' team, with an additional broader remit to work with the credit and political risk insurance team. Jessica joins from Ed Broking, where she had worked as a broker.
Aspen Insurance Group has promoted Sacha Cooper from Underwriter to Senior Underwriter, Credit and Political Risks. Sacha has been with Aspen since 2018, after joining from Willis Towers Watson.
Euler Hermes Asia Pacific has appointed Shan Aboo as ASEAN CEO. Shan has worked for Euler Hermes since 2008, most recently in the role of Regional Director World Agency APAC. He will be based in Singapore.
Euler Hermes North America has appointed Mike Schnider as Sales Vice President. Mike has been with Euler Hermes since 2015 and was most recently Senior Trade Risk Consultant. He is based in Atlanta, Georgia.
QBE Insurance has appointed Antonia Heap as Trade Credit New Business Senior Underwriter. Antonia joined QBE as Trade Credit Assistant Underwriter in 2015.
Events & Professional Development
The impact of digitalisation on trade. Wednesday, 5 May 2021 at 9am (CET).
Join us at our Virtual Events Series, 'From crisis to opportunity what's the future of trade?'
As the Covid-19 crisis sent the world into recession, a decade’s worth of unexpected – and at times unprecedented – changes to the trade landscape occurred within months. Amongst these are the long-term impact of the pandemic on the world’s supply chains, the continuous renegotiation of trade tariffs, the rebalancing of world trade relationships, and the growing trends towards trade digitalisation and de-globalisation.
And now, as the world strives to turn the page on the crisis, where do opportunities for business growth lie?
Join us at our series of four virtual interactive events designed to help your business understand the new international trade environment, navigate trade credit risks and identify business growth opportunities. Do not miss the chance to hear from our speakers, and the additional insight they will provide when answering questions from our audience.
Event #3
The impact of digitalisation on trade
In response to the Covid-19 crisis many businesses have accelerated their adoption of digital technology and some have undergone complete digital transformations years before initially planned. With digitalisation now at the top of many boardroom agendas, we have invited a panel of experts to tell us more about how digitalisation is impacting trade.
Technology has certainly affected the way we communicate, but how are digitalisation trends changing the way we trade around the world? Can AI or big data analytics bring business opportunities? How can digitalisation support user experience to increase trust, improve efficiency and transform business models? In addition, we will invite questions from the audience and give you the opportunity to gain expert knowledge from business leaders at the forefront of digitalisation.

Daisy McAndrew (former Economics Editor and Chief Political Correspondent for ITV News) will moderate a panel discussion on this subject as part of our Virtual Event Series. This event features:
  • David Rowan – Founding editor of WIRED’s UK edition and early-stage investor in technology start-ups, 
  • Jean-Marc Noël – Co-founder and CEO of Trusted Shops,
  • Frédéric Wittemans – Executive Director International Credit at Ingram Micro,
  • Dirk Hagener – Atradius Director of Strategy and Corporate Development.
Date: Wednesday, 5 May 2021
Time: 9 AM CET
Duration: 45 minutes panel discussion, followed by 15 minutes live Q&A
Click here to register.
GTR East Africa 2021 Virtual. 12-13 May 2021.
Following the success of the inaugural virtual event in October 2020, GTR East Africa will return once again in a digital form for 2021, taking place on May 12-13, 2021. Utilising GTR’s bespoke virtual event platform, this online gathering promises expansive networking and an extensive and comprehensive programme of live and on-demand content, welcoming the leading practitioners in trade, agribusiness, supply chain and commodity finance. Join industry experts from across the region to explore the latest developments, strategies and solutions employed to drive East African trade growth. LINK: https://bit.ly/3gphJ0x.
Receivables Finance International Convention, 18th – 20th May 2021 - Virtual.
BCR’s 21st annual Receivables Finance International Convention provides an essential update on the latest invoice financing trends, market challenges and innovations.
The receivables finance sector continues to evolve rapidly. Covid-19 has meant a significant shift in market attitudes. Some of these will be permanent; some will disappear over time. Many expect a rapid rise in receivables finance business coming out of the pandemic as government-imposed restrictions are eased. But navigating to that point could be tricky as the financial support provided by governments will expose many SMEs to terminal positions.
RFIx 2021 will take a deep dive into the impact of the pandemic and global geopolitics on market trends and risk. It will explore how practitioners can become fitter, leaner, and better in this new world through innovative product development, technology and new markets, and discover the new challenges around ESG, regulatory and legal issues.
This flagship event for the receivables finance industry attracts delegates from across the globe, bringing together both market experts and new entrants. Being a virtual event, it provides a chance to network with an even wider circle of industry peers.
Join senior receivables finance executives at the 21st annual RFIx Convention and ensure the right direction for your business.
As event partners, Credit Insurance News can offer members a 25% discount on a delegate pass rate. To register please follow this link. The member discount code is rfix21-med.
Alternatively, you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
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: InfolinkGazette
Connell Data Ltd t/a InfolinkGazette, collect and structure business data that falls in to three broad categories: credit risk management, business opportunity identification, and compliance management. And we deliver the data to our subscription clients on a daily, weekly, monthly, or quarterly basis.
Data distribution is primarily through information re-sellers, such as Credit Reference Agencies and Data Aggregators. And to a small extent, we also supply to end users of information in the Credit Insurance, Debt Recovery, and Insolvency sectors.
We’d be known best for our unsecured creditor and insolvency databases, which help Credit Insurers, Brokers, Debt Collection Agencies and Credit Reference Agencies identify the optimum time to call commercial prospects, and present their company's solution. This is the time when the prospect has the greatest propensity to purchase a Credit Insurance or Credit Risk Management solution, which is shortly after the prospect has incurred an unsecured credit loss, following one of their customers going out of business.
In an average quarter, InfolinkGazette data quality editors process 3,000 insolvency files, with total unpaid/unsecured credit losses of over £1 billion, resulting from an average 45,000 ordinary unpaid trade creditors, who have each lost an average of more than £30,000.
The information is available via our website 24/7, with extensive search, viewing & download facilities; the database of over 1 million records, increases at the rate of almost 15,000 unsecured creditors per month, which means we are constantly refreshing the supply of quality new business prospects and risk management data for credit professionals. 
Apart from unsecured creditors data we provide all types of business information, throughout the entire business cycle, literally any business event from the registration of a debenture to the issuance of a profit warning.
There is nothing unique about any of our data sources, everything comes from public registries or official gazettes, using either web extraction techniques, OCR, or traditional data entry; what is exceptional about what we do, is the timeliness of the information, and the structured ready to load format of the delivered files. The timeliness is best illustrated by the work of our court correspondents, who identify upcoming Administrations and CVAs weeks before the information is published at Companies House, or the Gazette’s.
We provide: Unsecured Creditors; HMCourts filings; London Stock Exchange (LSE) Profit Warnings; UK Corporate Acquisitions; Deliberate Tax Defaulters; UK & ROI Business Reference Files; New Company VAT Registrations; UK Offshore Foreign Financial Institutions; and numerous bespoke commercial data files.
We are essentially, a data capture bureau; we identify data that will be useful for risk, marketing, or compliance purposes and if it isn’t already in an easy to consume format, we collect and structure it. We’ll take data from print media, or other analogue sources, aggregate it with other relevant information from commercial registries, and supply it in a structured digitised format, to support risk, opportunity and compliance decision making.
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