Welcome to Issue 64 of Credit Insurance News Digest. This issue is kindly sponsored by QBE.
Credit Insurance News
Pickenpack's unpaid invoices to US pollock supplier will be mostly covered by credit insurance. Undercurrent News has published an article, 'US pollock suppliers to file claims on unpaid Pickenpack invoices next week', which advises that US pollock suppliers will soon start to file claims on unpaid invoices for fish supplied to fish finger processor Pickenpack Europe, a company partially owned by Pacific Andes International Holdings that is now in a voluntary bankruptcy process. The amount outstanding from Pickenpack could be as much as $25-$30 million, but will be mostly covered by trade credit insurance. Sources told Undercurrent News that claims to creditor insurers such as Atradius and Euler Hermes – both of which had recently pulled coverage on Pickenpack and Pacific Andes - will start next week. To read the article on Undercurrentnews' website go to https://www.undercurrentnews.com/2015/12/03/us-pollock-suppliers-to-file-claims-on-unpaid-pickenpack-invoices-next-week/.
AIG and PrimeRevenue launch new service, Supply Chain Finance, to free up funding for UK businesses. GTR has published an article which reports that new research commissioned by AIG and PrimeRevenue indicates that 17% of the revenue of UK businesses is currently tied up in invoices with non-standard payment terms. In addition, 77% of companies have been asked to accept longer payment terms, with 28% saying the issue has increased in the past year. As a result, AIG and Prime Revenue have launched a new service, Supply Chain Finance, to provide funds which will enable suppliers to take early payment less a small discount. AIG advises that for buyers the new service can improve working capital by lengthening payment terms without negatively affecting suppliers, while suppliers have access to cash flow ‘on-demand’. "Our target is annual sales exceeding £100 million,” Richard Tynan, managing director of PrimeRevenue, told GTR. He added that the solution will be rolled out to Northern Europe, Western Europe and the US in the coming months. To read the article on GTR's website go to http://www.gtreview.com/news/europe/primerevenue-and-aig-team-up-for-midcaps/.
Export trade credit insurance is likely to be 'the new normal' for most Irish exporters. The Irish Examiner has published an article, 'It’s not all good news for the economy and exporters as failure rates for businesses still high', which advises that a survey by the Irish Exporters Association at the end of last year showed there was a 27% surge in the volume of exports in Ireland covered by export credit insurance. This compares with a 4% increase posted for the same period by exporters across Europe, as reported by Berne Union. As a result, there is strong competition between the three major credit insurance underwriters (Euler Hermes, Atradius and Coface) in the Irish market and, according to the article, export trade credit insurance is likely to become 'the new normal' for Irish exporters. To read the Irish Examiner's article go to http://www.irishexaminer.com/business/features/its-not-all-good-news-for-the-economy-and-exporters-as-failure-rates-for-businesses-still-high-368754.html.
ABI advises that trade credit insurance plays a vital role for British business in reducing the financial risk of supplying to steel manufacturers. The Association of British Insurers (ABI) has commented on the importance of trade credit insurance cover for the British steel manufacturing industry. Ross Penstone-Smith, Policy Adviser for General Insurance, ABI, said: "With some of the biggest names in steel manufacturing in the UK facing an uncertain future, trade credit insurers are continuing to support the industry, providing more than £4.5 billion worth of cover on credit for firms supplying to UK steel manufacturers . . . Trade credit insurance plays a vital role for British business in reducing the financial risk of supplying to steel manufacturers." To read the ABI's news release go to https://www.abi.org.uk/News/News-updates/2015/11/ABI-comments-on-UK-steel-manufacturing.
Trade credit insurance is experiencing an uptick in demand throughout Canada. Insurance Business Canada has published an article, 'Partnership to widen access to trade credit insurance', which reports that Lloyd Sadd Insurance Brokers and Canadian brokerage network Navacord have announced a new partnership with Global Trade Credit, a specialty broker that works with trade credit insurers. Managing partner Graham MacLachlan expressed hope that the collaborative efforts will allow a greater share of the Canadian market to access trade credit services. The article also advises that trade credit insurance is now experiencing an uptick in demand throughout Canada. “You have financial institutions using it, you have organisations with long-term contracts using it, you have consulting services using it, so it really is anyone that has a counterparty risk on an open account terms where you provide a good or service and are paid at a later date”, commented Andrew Leonard, national practice leader, financial products, Marsh. To read the article go to http://www.insurancebusiness.ca/news/partnership-to-widen-access-to-trade-credit-insurance-200249.aspx.
InfolinkGazette research indicates that there is a large unexploited market for trade credit insurance growth in the UK. InfolinkGazette has published research which indicates that there were 9,000 unsecured creditors in the UK in November 2015 with an average loss of £33,000. In addition, a further 1,000 companies entered into administration with an average loss of £14,000. After adjustments to deduct HMRC and other losses, InfolinkGazette advises that this means that, for the three months to end November, unsecured creditor losses from UK insolvencies reached a total of £1.4 billion; a figure which contrasts with the ABI's data that the trade credit industry paid claims of £50.3 million in the last quarter. Greg Connell, Managing Director of InfolinkGazette commented: "Even allowing for quarterly fluctuations in creditor losses and gross paid claims, there must still be a large unexploited market for trade credit insurance growth." To read InfolinkGazette's news release go to http://www.infolinkgazette.co.uk/?u=301&pid=6.
Credit Insurance program launched to protect Canadian farmers. Grainews has published an article, 'Protect grain sales against non-payment', which advises that Farmers of North America (FNA) has launched a new risk mitigation program, Market Power Assurance, to protect Canadian farmers when a buyer does not pay. Farmers can pick and choose which buyer they want to cover and for how many deliveries, and the insurance covers any product that farmers produce (including processed food products, pedigreed seed and seed cleaning). The article advises that after an initial credit check fee of C$50 for each buyer, the cost of insuring sales of C$10,000 is around C$65. Euler Hermes is the underlying insurer. To read Grainews' article go to http://www.grainews.ca/2015/11/18/protect-sales-against-non-payment/.
Euler Hermes warns that Brexit could create a £30 billion exports black hole. Euler Hermes' has published its latest blog, 'Brexit me if you can', by its Chief Economist Ludovic Subran. Although the blog advises that it is unlikely that the UK will vote to leave the EU, it warns that if it does Britain could lose £30 billion worth of exports if no free-trade agreements with the EU were in place post EU-exit. "Profit margins could fall by up to 2 points on the back of higher input costs and tighter financing conditions. And although the financial sector will pay the highest price, it will not be the only industry to suffer." In addition, if European and international companies realised that London no longer serves as a comfortable gateway, "they could not be faulted for taking their business elsewhere."  To read the blog on Euler Hermes' website go to http://www.eulerhermes.com/economic-research/blog/post.aspx?post=45.  A link to Euler Hermes' latest Economic Insight on this topic is also given.
Growth has returned to France, but it remains fragile. Coface's latest Panorama advises that French companies are starting to benefit from a tenuous recovery, although certain sectors remain at risk. Coface economists estimate a growth of 1.1% for 2015 and 1.4% for 2016 as well as a second year of lower insolvencies - although levels still remain high. Furthermore, Coface advises that France's recovery is confirmed by the total cost of the insolvencies (calculated as the sum of the outstanding amounts due to suppliers), which declined over the year to the end of October 2015 by 20%, to €3.6 billion. Construction is now the only sector in France to have a "very high risk" assessment (vs. "high risk" in Europe). To read Coface's news release with a link to the full report go to http://www.coface.com/News-Publications/News/French-companies-are-starting-to-benefit-from-a-tenuous-recovery-although-certain-sectors-remain-at-risk.
Interest in trade credit insurance among US companies has quadrupled in the past few years. Anthony R. Little, a Vice President with BB&T Insurance Services and Director of BB&T's Insurance Services - National Forests Products Practice, has published an article on LinkedIn in which Jamie McNeill, Credit Insurance Specialist at BB&T Insurance, commented that he’s seen interest in trade credit insurance among US companies quadruple the past few years across industry segments. Angela Hovatter of Euler Hermes, is also quoted at length, and advises: "Credit insurance is a dynamic, on-going business asset. It’s not a product you put on a shelf and revisit annually. The key to trade credit insurance providing a return on your investment is having a strong partner to steer safe and aggressive sales expansion, keep an eye on your customer portfolio, and keep you informed of material changes.” To read the article go to https://www.linkedin.com/pulse/protect-account-receivables-increase-sales-trade-credit-little.
Changes in the credit insurance market. Aon has published a report in which Mark Powell, Executive Director at Aon Credit International, discusses the challenges credit managers have faced over 2015 and the changes that are being made in the credit insurance market. He advises that over the last 10 years, the quality of information available to insurers and policyholders has improved significantly which has allowed credit insurers to take an increasingly proactive approach to underwriting risk and encouraged a closer partnership between underwriter, policyholder and broker. He also reports that requests from policyholders and prospects for cover on specific buyers have increased significantly over recent years, and, in order to overcome this, brokers are increasingly looking towards top up solutions and/or syndications with insurers. To read the paper go to http://www.thehub-aon.co.uk/Insights/Interview%20with%20a%20risk%20analyst%20v2.pdf.
North American Free Trade Agreement (NAFTA) countries report analyses the economies of Canada, Mexico and the US. Atradius has published a new country report, North American Free Trade Agreement (NAFTA) countries – November 2015, which analyses the economies of Canada, Mexico and the US according to key indicators, industries performance forecast and the insolvency environment. The report advises that in Canada, growth is expected to slow down and business insolvencies to increase, in Mexico crucial reforms have been passed - although their proper implementation remains to be seen, while in the US robust growth rates persist. To read the report go to https://group.atradius.com/reports-and-advice/.
AJG advises that now is a great time for taking out credit insurance. Arthur J. Gallagher (AJG) has published the latest issue of its publication, Talking Credit Bulletin, which reports that competition for new business amongst credit insurers has highlighted that now is a great time to consider taking out credit insurance. "Premium rates are keen. Appetite for risk has continued to improve." Furthermore, AJG advise that insurers are now writing higher levels of cover than they have done for many years, and there is a markedly more flexible approach from insurers to accommodating a customer’s specific circumstances and requirements. To read the Bulletin on AJG's website go to http://www.ajginternational.com/media/97023/talking-credit-nov-2015.pdf.
The potential risks to packaging suppliers and how to manage them. Packaging News has published an article, 'Risk in the packaging sector', in which Euler Hermes' Kieron Franks examines potential risks to packaging suppliers and how to manage them. Mr Franks warns that despite no major insolvencies so far in the packaging sector this year, the continuation of cost pressures stemming from the well-documented price war between the major food retailers is increasing pressure on the supply chain. As a result, firms need to be aware of the sometimes subtle red flag signs which may indicate potential payment problems. To read the article on Packaging News' website go to http://www.packagingnews.co.uk/features/keiron-franks-risk-in-the-packaging-sector-27-11-2015.
Construction: the Achilles heel of the French economy. Coface advises that although construction elsewhere in Europe is showing signs of recovery, the turnover of companies in the construction sector has been falling since 2012 and the sector accounts for almost one third of insolvencies in France. As a result, it is the only trade sector, out of the fourteen studied by Coface, to be rated as 'very high risk'. However, Coface reports that there is some evidence that some confidence is slowly returning to the sector, and notes that the pace of new-build and pre-owned sales increased by 9.3% in the 2nd quarter of 2015. As a result, Coface forecasts that 2016 will see new build prices will start to decline and insolvencies in the sector will stabilise. To read Coface's news release go to http://www.coface.com/News-Publications/News/Construction-the-Achilles-heel-of-the-French-economy.
Potential growth for Morocco in excess of 3% in 2016. At Euler Hermes' recent International Trade Observatory summit in Casablanca, Tawfik Benzakour, chief executive of Euler Hermes ACMAR reported that although Morocco's economy remains turbulent and insolvencies are expected to increase by 15% in 2015 and 10% in 2016, the country is showing considerable resilience. “In 2015 it will see 4.5% growth, the highest in North Africa," while, in contrast, global growth is not expected to exceed 3% in 2015 or 2016. In addition, Euler Hermes forecasts additional export opportunities for Moroccan companies in 2016 worth more than €1 billion, almost half of which are Spain and France - Morocco’s biggest trade partners. To read Euler Hermes' news release go to http://www.eulerhermes.com/mediacenter/news/Pages/press-release-morocco-ITO-120215.aspx.
And Finally . . .
Huge congratulations to the following sponsors of Credit Insurance News Digest who have reached the final of their category at the CICM British Credit Awards in February 2016. Equinox Global, HCC International and Nexus CIFS are finalists in the 'Credit Insurer of the Year' category. PurplePatch and CoCredo in the 'Credit Information Provider of the Year' category. To book a table and for more information go to http://www.cicmbritishcreditawards.com/static/table-booking.
Ex-Im reauthorised. Nearly six months after the Export-Import Bank, official export credit agency of the US, was shut down, the federal agency has been revived. Fred Hochberg, the chairman and president of EXIM Bank, advised in a letter: "EXIM will be able to restart the work needed to meet its mission of supporting American jobs and equipping American businesses with the tools necessary to compete for global sales." The support ranges from large aircraft deals to transactions for small-business exporters. For more information and to view Mr Hochberg's letter go to http://www.exim.gov/.
Business Information
‘Zombie businesses’ return to the land of the living. According to new research by R3, the number of UK businesses just paying the interest on their debts has plummeted from 154,000 in August 2014 to 69,000 now. This is the lowest number of businesses in this position since the survey began in June 2012, having peaked at 160,000 in November 2012. However, Phillip Sykes, President of R3, cautioned that 77,000 businesses say they would be unable to repay debts if interest rates increase by a one percentage point or more: “The low interest rates have been a great aid to businesses but they won’t last forever . . While the amount of businesses that would be unable to repay debts has decreased by nearly a quarter since last year, it still represents a considerable number of companies who will be put in a precarious position when a rise does come.” To read R3's news release go to https://www.r3.org.uk/index.cfm?page=1114&element=25921&refpage=1008.
48% of UK Credit Managers in a CICM survey describe their appetite for risk as more cautious than ever before. According to the latest (Q3 2015) research from the Chartered Institute of Credit Management (CICM), sponsored by Tinubu Square, 47% of credit managers have had to pursue what they consider to be a large claim against a debtor in the last year, and 23% of respondents had pursued more than one large claim. 29% of credit managers surveyed also said that they are encouraging their company to change its appetite for risk when setting trade credit terms, with 48% describing themselves as more cautious than ever before. The research also found that business confidence and the outlook for growth appear to be stuttering. However, both sectors remain comfortably above the 50-point threshold, indicating that overall confidence and performance remains positive. To read CICM's news release go to http://www.cicm.com/news-business-growth-splutters-record-highs-cicm-uk-credit-managers-index/.
UK High Street sales tumble in the run up to Christmas. BDO’s latest monthly High Street Sales Tracker (HSST), has shown just how much of a damp squib this year’s Black Friday discounting turned out to be. BDO’s (HSST) recorded a massive 4.3% drop in year-on-year sales for November - the largest fall in monthly like-for-like sales this year and the severest sales dip since November 2008. However, Sophie Michael, Head of Retail and Wholesale at BDO, said the underlying narrative was more positive for retailers. “With this month’s figures being compared to such strong growth in November 2014 (+25.6%), an overall monthly increase greater than 20% would have been a big ask. Furthermore, for Black Friday week itself, non-store sales growth was 20.1% demonstrating the relative success of online through the Black Friday period.” To read BDO's news release go to http://www.bdo.co.uk/press/high-street-sales-tumble-in-build-up-to-christmas.
Survey shows that companies in the south and periphery of Europe are more confident and willing to take risks than those in the North. According to Deloitte’s latest European CFO Survey, there has been a distinct shift within Europe, with companies in the south and periphery of the continent more confident and willing to take risks than those in northern countries. 58% of Ireland’s CFOs report growing optimism, with a high proportion of CFOs in Spain (54%), Poland (50%) and Portugal (47%) also more optimistic. In contrast, optimism is weakest in northern European economies, with just 14% of CFOs in both France and Norway saying they are more optimistic - followed by Germany and the UK (both 18%). The Survey also found that risk appetite is highest in Italy, where 56% of CFOs say now is a good time to take risks, followed by Ireland (48%), the UK and Spain (both 47%). Risk appetite is lowest in Norway and Germany, (just 20% say now is a good time to take risks), followed by the Netherlands (21%) France and Austria (both 22%). To read Deloitte's news release go to http://www2.deloitte.com/uk/en/pages/press-releases/articles/european-business-confidence-heads-south.html.
1-in-5 businesses in the UK are owed payment on overdue invoices. According to new research by R3, 21% of UK businesses are owed payment on invoices that are over 30 days past due, Manufacturing (27%) had the highest rate of businesses that were owed late payments, followed by Services (22%), and Retail and Distribution (13%). However, R3 also reported that business distress remains near record lows, with only 28% of businesses experiencing any of the key signs of business distress – including decreasing profits, sales volumes, or market shares, the regular use of maximum overdraft facilities, and new redundancies. Indicators of business growth also remain near record highs (68%), with 67% of businesses showing at least one indicator of growth. To read R3's news release go to https://www.r3.org.uk/index.cfm?page=1114&element=25843&refpage=1008.
UK business survival rates tell a positive story. The FSB has reported that the latest Office for National Statistics (ONS) Business Demography data for 2014 indicates a levelling off of improvements to business survival rates with the rate of business births decreasing by 0.4% while the rate of business deaths fell by 0.1% between 2013 and 2014. Commenting on the numbers, John Allan, National Chairman for the Federation of Small Businesses, said: “These figures provide an interesting insight into the entrepreneurial spirit that has helped drive the recovery over the past five years. In recent years, business births have seen unprecedented levels . . . Coupled with the gradual gains in business survival rates, assisted by the improving economic outlook and a range of helpful policy measures, this has led to more than 5.4 million businesses in the UK." To read the FSB's news release go to http://www.fsb.org.uk/media-centre/press-releases/business-survival-rates-tell-a-positive-story-says-fsb.
UK growth steady but momentum has slowed. According to the latest CBI Growth Indicator, UK economic growth remained steady in the three months to November albeit at a slower pace than a few months ago. The balance of firms reporting a rise in output was +13%, a shade below the +14% reported last month but above the long-run average of +5%. Growth was mainly driven by the business and consumer service sectors, with manufacturing remaining one of the more sluggish sectors in the economy and distribution taking a hit. Expectations for the next three months are the weakest they have been for two years (+17%) - although still well-above the average (+10%). To read the CBI's news release go to http://news.cbi.org.uk/news/uk-growth-steady-but-momentum-has-slowed-growth-indicator/.
Career Opportunities
Senior Underwriter – Trade Finance, London, £Excellent.
This global insurer who have a market leading position are seeking an individual to join their London based team underwriting products specifically associated with Trade Finance. The insurer have a slightly unique offering in that their distribution model is 95% direct with banking institutions rather than being led through brokers. Therefore the ability to develop strong working relationships with buy-side individuals is key, as is the ability to spot opportunity and structure suitable solutions. The primary products you will be underwriting will revolve around the risk mitigation of LC’s, Guarantee’s, Promissory Notes, Receivables Finance, Syndicated Loans, etc. An intimate understanding of these is absolutely essential to be successful in this role. Presently you should be either working within a banking environment in a syndication or origination team, or working within an insurer underwriting these products. Opportunity for international travel and progression exists and would be encouraged. Please contact me for an informal discussion on +44 207 092 3283 / kerren.leach@eamesconsulting.com.
New Business Manager, West Midlands. Salary £40,000.
Reed Insurance are excited to be working with a leading Credit Insurer who are looking to recruit an experienced New Business Manager to cover the South West region of the UK. The sales model for this role is Direct to the end client. The ideal candidate must be motivated to pro-actively acquire business working via a number of internal and self-generated sources of business. You will help to continue to develop the market to secure profitable business for my client, whilst looking for opportunities for all product lines, thereby maximising contribution. You will target all market segments but this will predominantly be the SME market place.
 The successful candidate will posses the following attributes: Excellent proven Sales negotiation and communication skills Be able to prioritise: determine the importance of each task and allocate time accordingly Have In-depth familiarity and knowledge of various contract structures in order to know how best to negotiate between price and risk Possess excellent knowledge of current economic climate and how it affects the market.
For more information please contact Nicholas Morgan by calling 0121 237 5550 or email Nicholas.R.Morgan@reedglobal.com.
Trade Credit Account Handler, Leeds City Centre. £22,000 - £30,000.
 I am delighted to be working in partnership with a National Insurance Broker, who have a substantial network of offices throughout the UK, ensuring that they have a very strong local presence, and are able to provide outstanding levels of service. Due to a substantial period of growth my client is looking to recruit a new member to work within the Trade Credit Team within their Leeds City Centre arm. If you are an individual who has previously had exposure to Trade Credit Insurance and is looking for career and salary advancement then this may be the role for you. It would be the opportunity to deal with some larger sized businesses and have the ability to deal with more technically advanced cases. Alternatively my client will look at individuals who are experienced Commercial Account Handlers, and are interested in moving into Trade Credit, and can demonstrate an awareness in this area.
As a successful candidate you will be: Responsible for a book of Trade Credit Clients Dealing with larger end businesses and more technically based cases. Supporting the Account Executives Chasing Credit limits Monitoring Overdue payments Liaison with Underwriters Being reactive to the clients needs and taking ownership of tasks In return you will have the opportunity to be part of a massively successful firm of Insurance Brokers, as well as have the opportunity to carve out a career within this niche area of Trade Credit, should you desire. Salary is very much dependent upon experience and ranges from £22,000 - £30,000.
 In order to speak further, in confidence please contact Helen Spriggs on 0113 2368957 or email your CV to helen.spriggs@reedglobal.com.
Senior Political Risk Underwriter, London, c.£125,000 + Excellent Bonus and Benefits.
This major Syndicate is looking to grow its Political Risk team with the appointment of an experienced underwriter to join the team. You will be working as part of a close knit team and will be acting in a “Deputy Head” capacity, covering for the “Head of” whilst they are travelling or otherwise engaged. The team have ambitious growth plans and to achieve these they wish to increase the amount of Credit business that is written, therefore experience in underwriting private obligor credit business for another syndicate or major company market is essential. You will be instrumental in continued growth and development of the book, including product development, business planning, key strategic decisions as well as day to day underwriting. In addition, supervision of a small team will be involved – jointly with the Head, to include day to day coaching and development. Presently the syndicate write a good mix of bank, corporate and trader business across all major Lloyds products.
If you have the ambition and drive to help a team grow and reap the rewards associated, coupled with a strong network of supporting brokers in the London Market please don’t hesitate to contact Kerren Leach on kerren.leach@eamesconsulting.com / 0207 092 3283. (Please mention Credit Insurance News Digest).
Credit Insurance Account Handler, Yorkshire. Generous salary (depending on experience) and benefits package, company car or allowance.
Due to the continued acquisition of quality accounts, the specialist Trade Credit Division has retained Aston Charles to assist in the appointment of a Credit Insurance Account Handler. This firm is long- established in the Yorkshire region and is well known for its friendly, supportive and technically- orientated staff. You will be supporting Account Executives and Directors in the smooth running of their portfolios, including administering mid-term amendments, dealing with credit limit issues, as well as day to day enquiries. Clients will be from a variety of industry sectors, and will vary in size from SME’s, right through to very large, multinational concerns. In order to understand how businesses transact with each other, you will be commercially- minded and ideally have experience of working for a competing Credit insurance brokerage. However, we welcome applications from those candidates who have worked in ‘industry’ as a Credit Controller or similar, or those from a general personal/ commercial lines broking background. In order to build rapport and explain Credit insurance best practice with stakeholders at all levels, you must have excellent written and verbal communication skills. Demonstrable negotiation skills are also a prerequisite. Having a relevant degree (Business Studies, Accountancy, Finance or Economics, for example), will add weight to your application, although this is by no means essential. In return, you will receive a generous basic salary (depending on experience) and benefits package, company car or allowance, and support towards professional qualifications. For more information and to apply contact Richard Jones at richardjones@astoncharles.co.uk or call 0845 8388 490.
Experienced Risk Underwriter. London. Salary DOE.
This is an opportunity to join our Underwriting team, based in the London office. The successful candidate will be responsible for Underwriting credit limits on risks within primary delegated authority (UK and/or Ireland) and in accordance with group underwriting guidelines, and on export risks through use of secondary delegation in accordance with delegated authority and group underwriting guidelines. Monitoring and reporting on exposures will be required using reactive (automated messaging) and proactive methodologies. For part of this role the job holder will support the Commercial Department in the acquisition of new credit insurance business and the retention and renewal of existing policies. They will also represent the business clients, channel partners and professional bodies at the highest levels. The ability to read and interpret audited and management accounts is essential along with the ability and confidence to make risk decisions and provide explanations (both orally and in the form of internal report writing). Knowledge of company funding, turnaround, and buy-out situations is essential. Proven experience (5+ years) in a similar role from within the credit insurance is necessary. To apply, please contact: Ben Wade on 0207 220 4777 or email Ben.Wade@reedglobal.com. (Please mention Credit Insurance News Digest).
UK Wide Broking Opportunities.
Eames Consulting are exclusively representing a major global broking house who are looking to dramatically increase their Trade Credit Team in the UK and would be keen to hear from experienced brokers across the UK. These opportunities have come following a recent review of the specialty businesses and Trade Credit being highlighted as a key growth area. Opportunities exist at all levels from Account Manager through to Regional Director including Senior Sales opportunities. The organisation have an outstanding platform to enable an experienced individual to flourish including top notch systems, large retail network enabling cross selling initiatives as well as the ambition to be a major player in this market. They also have an existing Trade Credit operation and therefore would be a recognised name to clients. For a confidential discussion, please send your CV to kerren.leach@eamesconsulting.com along with a cover note and contact details.
New Appointments
ACE has announced that Julian Hudson has been appointed as head of trade credit, Ace Global Markets. Mr Hudson was formerly Ace's chief development officer for political risk and trade credit.
Forthcoming Events
Supply Chain Finance Summit. 27-28 January 2016. Frankfurt, Germany.
The market for supply chain finance (SCF) is lighting up. For EMEA alone, the market size is estimated to be as high as €17 Billion with an estimated annual growth rate of between 15-30%. This two day event covers the rapidly growing interest in targeting both domestic and cross border opportunities in the SCF space, as well as the increased interest from mid-sized companies now looking to supply chain finance to increase profitability and strengthen supply chains. Brought to you by BCR, specialist publishers in receivables, factoring and supply chain finance, the conference is open to all finance and supply chain professionals. It is a great opportunity to learn about the latest trends transforming the approach to supply chain management and a chance to network with leaders in the industry. Treasurers/CFOs, heads of supply chain/procurement from corporates & SME directors attend free of charge. For more information go to http://www.bcrconferences.com/events/supply-chain-finance-summit.
India Trade & Export Finance Conference 2016. 2 February 2016, Mumbai.
Returning to Mumbai for its 13th year, GTR‘s India Trade & Export Finance Conference will once again re-affirm its position as the conference of choice for the region’s trade finance community. 15% discount for Credit Insurance News Readers with CIN15. http://www.gtreview.com/events/asia/india-trade-export-finance-conference-2016/.
West Africa Trade & Export Finance Conference 2016. 3-4 February 2016, Lagos.
Recognised as the biggest gathering of trade finance professionals in the region, the West Africa Trade & Export Finance Conference will return to Lagos for 2016. With over 300 delegates expected in attendance, the conference will bring together delegates from the market’s leading corporate, banking and financial services organisations to discuss key market issues within agribusiness, hard commodities, risk mitigation and infrastructural development. 15% discount for Credit Insurance News Readers with CIN15. http://www.gtreview.com/events/africa/west-africa-trade-export-finance-conference-2016/.
Receivables Finance International - RFIx. 9-10 March 2016, Lisbon, Portugal.
This well established market leading two-day Convention brings together nearly 200 delegates from Europe, the Americas, Africa and Asia, attracted by the quality of speakers, panel discussions and wide-ranging subject matter. The theme for 2016 is being developed now. To get involved, please contact Malou Lindholm, Director, BCR Publishing. For more information go to http://www.bcrconferences.com/events/receivables-finance-international---rfix.
Financial Supply Chain Management: Axiom Groupe. 17 &18 March 2016. Hotel Avanida Palace, Barcelona.
 usiness professionals meet in Barcelona to present their key studies, business cases and for business discussions. Featuring key speakers are from Bank Santander, Pepsico. Mondelez International, Walgreens Boots Alliance, Diageo, Hasbro, Bayer, SAP, Barclays, Bonduelle, Alstom, HSBC, Sanofi Aventis. Barcelona, Spain. Hotel Avenida Palace, 17&18 March 2016. To find out more go to:

 http://axiomgroupe.com/conference-detail?title=Financial-Supply- Chain-Management&id=4728

About this Issue's Sponsor: QBE
2015 has been an especially noteworthy year for QBE Trade Credit in Europe as we have celebrated our 10th successful year of operation. The world today is vastly different from the one in 2005 when we wrote our first whole turnover policy and so is QBE Trade Credit. We’ve come a long way since then. Our proposition today is global, interconnected with QBE Trade Credit across the world, and includes selective covers for a wide range of customers: single accounts, agreed accounts, major debtors, top accounts, excess of loss and top-up cover.

We’ve also developed a reputation for delivering market-leading customer service, with real-time underwriting decisions, exceptional limit turnaround times, an impressive record of paying claims and the development of new services to help clients review their Binding Contracts and Terms & Conditions. This service-orientated approach is supported by our global management platform Trade Credit System (TCS).

In the post recovery world it is increasingly clear that our future success and growth depends on how we respond to the changing demands of our customers and brokers. Our proven track record of developing new products and services for traditional as well as new sectors such as financial services, is evidence of our flexible and open-minded approach to doing business.

Our investment in talented industry experts in both our trade credit and surety teams allows us to deliver this superior service and create products that suit a growing interest in using trade credit in more innovative and flexible ways. In 2016 we’ll continue to expand our product range and enhance our policy coverage.

Credit insurance is changing and so are we. We look forward to 2016 and working together to manage risk and help trade take off.
Copyright © 2015 Credit Insurance News. All rights reserved.
All news stories on Credit Insurance News' website are included with the prior permission of the copyright holder. Reproduction or redistribution in whole or in part, in any manner, without the express prior written consent of the copyright holder, is a violation of copyright law. If you, or your organisation wish to redistribute, republish or link-to all or any part of any Credit Insurance News Digest, you must first contact the copyright holder direct or email sally.brown@creditinsurancenews.co.uk for further information.

Terms and Conditions                         Privacy and Cookie Policy                    © 2014 Credit Insurance News