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Welcome to Issue 71 of Credit Insurance News Digest. This issue is kindly sponsored by AIG.
Credit Insurance News
ABI data proves that trade credit insurance provides vital support to UK businesses. New figures published by the Association of British Insurers (ABI) show that nearly £150 million, the equivalent of £3 million a week, was paid out to UK businesses in insurance claims for customer insolvency or late payment last year. This is an increase of 42% compared to the previous year. In addition, ABI figures also show that 11,000 claims were made by businesses in 2015 - an increase of 19% compared to 2014. Overall, more than 11,900 policies were sold by trade credit insurers: 74% of policies cover businesses trading domestically, 22% of policies cover businesses exporting goods abroad. Mark Shepherd, ABI General Insurance Policy Manager, commented: "Trade credit insurance is crucial for all types of businesses, both large and small, and to the UK economy has a whole." To read the ABI's news release go to
Why companies in Western Europe buy trade credit insurance at a rate of five times that of US companies. Longitudes has published an article, 'Why you don’t have trade credit insurance and why you should', which suggests that there are three primary reasons why US companies don't purchase credit insurance: lack of knowledge ("perhaps the biggest reason"), a belief that they are large enough to self-protect against bad debt, and a fear that buying trade credit insurance can pose a 'political' risk or tension between the finance area and the credit department. Despite being available in the US for more than a century, the article advises that companies in Western Europe buy trade credit insurance at a rate of five times that of US companies ( "perhaps Europeans are more conservative than Americans"). The article also stresses that "companies do not realize that trade credit insurance can pay for itself", and without sufficient knowledge of the product worry that it may be too expensive. To read Longitudes article go to Reprinted with permission of Longitudes, the UPS blog devoted to the trends shaping the global economy.
Why some lenders find no value in trade credit insurance. Trade Financing Matters has published an article, 'Why some lenders find no value in trade credit insurance, 'which examines why US companies don't buy credit insurance. The article quotes Kevin Humphrey, from Arthur J. Gallagher & Co, "Trade credit insurance should continue to grow in the US, but the 'hockey stick' acceleration in growth that many people have predicted has always been hampered by a variety of issues that I group into a few clusters: 1) Cultural 2) Underwriting 3) Claims ('Disputes'). Adding to the list, the article's author, David Gustin, suggests that credit insurance is also not a straightforward product to buy or price, and the concept of "what constitutes protracted default versus outright insolvency is a challenging one." To read Trade Financing Matters' article go to
AIG warns that during uncertain times, securing one’s valuables seems like a sensible strategy. AIG have contributed an interesting article to Credit Insurance News Digest which advises that although the last few years has been a good time to be a buyer of credit insurance, with strong competition amongst providers making for good coverage and keen pricing, the tide may now be turning with a rising level of claims resulting in insurance companies readjusting to the deteriorating environment. "Claims are certainly on the rise and we expect to see them increase further over the next one to two years as asset values are restructured." In addition, confidence may be further eroded by ongoing liquidity issues, political uncertainty around the solidity of the European Union, world-wide leadership issues, flat-lining economies and the ever nascent threat of terrorist activity. AIG warns that in this environment even relatively small incidents can become more meaningful, eroding business confidence and entrenching economic black clouds: "During uncertain times, securing one’s valuables seems like a sensible strategy." Click here to read AIG's article.
Brexit, popularism and the continuing relevance of credit insurance. Equinox Global has published the second in a series of blogs by its CEO, Mike Holley, in which Mr Holley states the case for staying in the EU by examining the outsider's perspective and the damaging rise of popularism in politics. He comments: "As far as I can tell, every leader of a foreign country that has expressed an opinion so far has come out firmly against Brexit. The same is true for the IMF, the OECD and respected international economists. . . It is not often in life that such a disparate group reaches absolute consensus." Linking the current debate to credit insurance, Mr Holley cautions that the relevance of credit insurance has been proven by increases in political risk - even in the EU and the US: "Indeed the populist actions of Vladimir Putin have already caused several political risk claims over the past two years . . .  A reduction in demand for our product is one threat we don’t need to worry about right now." To read Mr Holley's article go to
The judicious use of credit insurance "lowers credit risk without unduly adding to costs". CFO Innovation has published an article, 'CFO strategies for surviving and thriving in a volatile economy', in which CFOs at the recent 5th CFO Innovation Shanghai Forum, describe some of the particular problems faced by Asian (particularly Chinese) companies - such as long payment terms - and some of the benefits that credit insurance can offer. As an example, a logistics CFO advised that while she believes that access to a credit insurance provider’s database supplements credit department’s research efforts, it is still vital to ensure that as much information is passed to credit insurance companies - especially in those situations when there is not enough data to make a judgement on a company’s creditworthiness. She also stressed that the judicious use of credit insurance lowers credit risk without unduly adding to costs. To read the article on CFO Innovation's website go to
Despite Brexit fears, the Irish economy will remain the fastest growing country in the Eurozone. Euler Hermes has advised that in contrast to global GDP growth, which is expected to increase by 2.5% in 2016 and 2.8% in 2017, Ireland’s economy will grow by around 5.0% this year and 4.0% in 2017. At the same time business insolvencies have registered double digit annual falls since 2013 and Euler Hermes predicts further declines of 10% in 2016. “In contrast to the Irish success story, more than 70% of world economy will slow down or be in recession in 2016,” commented Ana Boatha, European economist at Euler Hermes. However, Ms Boata also cautions: “We believe a Brexit will not occur. However, should this happen it could prove costly for both Ireland and the UK . . . Export losses of up to £30 billion and almost £200 billion in investments are at stake for the UK if no Free Trade Agreement is signed with the EU post exit." To read Euler Hermes' news release go to
Political risk and trade credit insurance offer protection against uncertainty and pave the way for global growth. Risk & Insurance has published an article, 'Enabling Expansion', which reports that despite the rising tide of political and economic turmoil in the world, the cost of buying political risk coverage and trade credit insurance is declining - even as demand is sharply increasing. “The pricing has become much more competitive,” said Lila Rymer, head of US underwriting for political risks and trade credit at Beazley. “A lot of new entrants and more capacity in the market has driven this competition." Also quoted are: James Daly, CEO of Euler Hermes Americas; Fredrik Murer, Head of Americas, political and credit for Chubb; and Jeff Abrahamson, Head of supplier trade credit for XL Catlin. To read the article on Risk & Insurance's website go to
NCI reports that credit insurance claims in Australia were up 80% in Q1. Insurance Business has published an article, 'NCI announces highest Trade Credit Risk Index score in history', which reports that Australian credit insurance broker, NCI Trade Credit Solutions (NCI), has reported that the first quarter of the year was characterised by some large insolvency activity in Australia. This is reflected in the highest NCI Trade Credit Risk Index Score of all time. NCI says credit insurance claims and adverse reports dramatically increased in the first quarter of 2016 with advertising, building and hardware having the highest value of received claims. Claims lodged in the first quarter of the year were up 80% when compared with Q1 2015. To read the article on Insurance Business' website go to
QBE publishes a series of videos designed to explain the benefits of trade credit as a financial risk management tool. QBE has launched a series of four short informative videos to show the benefits of trade credit as a financial risk management tool. The first video explains what credit insurance is and how it works. The second and third videos describe QBE's range of products. The fourth video describes how trade credit insurance benefits Banks and Financial Institutions. John Cross, Product and market development at QBE, advised Credit Insurance News Digest: "Our objective is to make it easier for brokers and providers to promote Trade Credit products, so we strived to make the videos enjoyable to watch and easy to understand without being overly simplistic about a sophisticated offering." To view the videos go to
Credit insurance: "the linchpin for successful crossborder transactions." Global Trade has published an article, 'Seizing Export Opportunities in Emerging Markets', which examines how trade credit insurance works, the different types of product available and their benefits. To underline how credit insurance is "often the linchpin for successful crossborder transactions", the article provides the example of a recent successful transaction involving an Australian agricultural producer and a food company in India which, after the Australian company purchased credit insurance, benefited both parties. To read Global Trade's article go to
Chinese debt grows as insolvencies loom. GTR (Global Trade Review) has published an article, 'Chinese debt grows as insolvencies loom', which warns that although this is predicted to be the first year since 2008 that corporate insolvencies didn’t rise on a global level, it is the second year in succession that they will rise in Asia - especially in China and neighbouring countries heavily exposed to its markets. Euler Hermes, using data seen by GTR, has predicted rising corporate bankruptcies of 20% in China this year and, has consequently, downgraded its country risk level for Singapore, Hong Kong and Taiwan - three of the markets most heavily exposed to Chinese defaults. Overall, Euler Hermes predicts a 13% rise in Asia Pacific bankruptcies. To read GTR's article go to
Atradius advises that corporate debt in EMEs has significantly risen. Atradius has published a new report, 'Corporate debt in emerging markets', which explores how rising corporate debt in emerging market economies (EMEs) affects corporate creditworthiness and identifies the most exposed countries and vulnerable sectors. The report advises that corporate debt in EMEs has significantly risen, which - especially in an increasingly challenging economic environment -  is raising concerns about corporate creditworthiness. Corporates (concentrated in Brazil, India, Indonesia, Russia, South Africa and Turkey) that are highly leveraged, have borrowed externally in US$ or have relatively low buffers are most vulnerable. Corporates operating in the energy, mining, construction (materials) and transport sectors  and real estate sector are also exposed. To read Atradius' report go to ​
How businesses in the packaging sector can spot the warning signs of insolvency from customers. Packaging News has published an article, 'Challenging times for packagers as financial stress rises', in which Euler Hermes' Kieron Franks advises the packaging sector will not escape the tightening business climate and cautions that businesses will need to ensure that they don't miss the subtle warning signs (such as increases in credit checks and lengthening payment patters) that their clients are struggling with their cash flow. Mr Franks concludes: "Insolvencies rarely happen without a number of symptoms surfacing beforehand and packaging firms would do well to be increasingly vigilant and ensure they have the correct credit risk management strategy in place to avoid the financial difficulties that often come with large failures in the wider supply chain." To read Packaging News' article go to
UK Growth rate expected to slow down in 2016. Atradius' latest Country Report on the UK predicts that after growing by 2.2% in 2015, UK GDP will increase by just 1.9% in 2016. In addition, in contrast to more substantial decreases in numbers of compulsory liquidations and creditors’ voluntary liquidations in England and Wales (-.9.2% in 2015), business failures in 2016 will just decrease by around 1%. Overall, Metals and Steel sectors (rated 'Bleak') have the poorest outlook, and Agriculture and Chemicals/Pharma sectors (rated 'Good') the brightest. To read Atradius' report go to Similar reports for for the following countries are also available at Austria, Belgium, Denmark, France, Germany, Ireland, Italy, The Netherlands, Spain, Sweden, Switzerland.
UK Construction unlikely to improve ahead of June's Referendum. Construction Enquirer has published an article, 'Construction buyers report loss of momentum', which examines some of the factors which have contributed to falls in the latest Markit/CIPS UK Construction PMI index reading which fell to 52 in April from 54.2 the previous month - the slowest rise since mid 2013. Kalpana Padhiar, construction specialist at Euler Hermes, commented: "The new figures are likely to be a direct result of the uncertainty surrounding June’s referendum, which is having a similar impact on activity across the sector to what we saw in last year’s pre-election lull . . . significant improvement in the short-term is unlikely." To read Construction Enquirer's article go to
Euler Hermes' Economist predicts continued weak growth for the US economy. Euler Hermes has published a clip on YouTube in which its North Americas Chief Economist, Dan North, discusses the factors hindering the weak growth (0.5%) of US GDP growth in Q1: weak consumption, decline in business investment and the strong dollar. Looking ahead, Mr North advises that he anticipates US GDP growth of 2% to 2.5% for the rest of the year, which will be weaker than growth in both 2014 and 2015. He also warns that Euler Hermes is currently seeing and expects to continue to see increases in US company insolvencies, slow payment and sharply increasing business risks. To watch the video go to
German exports are up . . . but so are insolvencies and risks. Euler Hermes' has published a new report, 'Top or flop? 2016', which predicts that although the number of cases of corporate bankruptcies in Germany is expected to stagnate in 2016, over the coming years German exports will grow by US$ 104 billion. Ron van het Hof, CEO of Euler Hermes Germany, Austria and Switzerland, commented: "Exporters are pressing hard on the gas pedal. Over the next two years they will even post stronger export growth than China." However, Euler Hermes' chief economist, Ludovic Subran, cautions that export trade remains risky: "Three of Germany’s five main trading partners are seeing a rise in insolvencies in 2016, and therefore an increase in risks. We predict that the frontrunner, the US, will experience a 3% rise in insolvencies, the UK a rise of 1% and China as much as 20%." To read Euler Hermes' press release with a link to the full report go to
Everest Insurance launches a new US credit and political risk business unit. Everest Re Group has announced the launch of a new Credit and Political Risk business unit to provide an array of credit and political risk coverages for banks, corporations, exporters, contractors, and infrastructure developers. The new unit will be led by Jim Thomas, who joins Everest Insurance from Zurich where he headed the global credit and political risk business. Jonathan Zaffino, President of Everest Insurance North America, commented: “We continue to explore opportunities to expand our underwriting capabilities. The credit and political risk business is an exciting new addition to the Everest Specialty Underwriters portfolio." To read Everest Re's news release go to
Willis Towers Watson launches a new version of its Credit Risk Trading Platform. Willis Towers Watson has announced that it has launched a next generation version of Mercury, its credit risk placement platform which caters for the full range of trade finance activities from import and export letters of credit, trade advances, bill purchase and receivables financing. Originally developed in the 1990s, the concept was moved by Willis to a web platform called Mercury in 2004. It offers banks and now corporates, instantaneous access to their chosen credit insurers. In addition, Mercury provides  management information such as quantifying in real-time a business’s exposure to certain geographies or counter-parties To read Willis Towers Watson's news release go to
And finally . . .
LDPA Credit Insurance has announced that it is now be operating under a new brand, The Channel Partnership. It has also launched a new website -
Business Information
Over half of global SMEs trade finance requests are rejected. In a new World Trade Organisation (WTO) publication, 'Trade Finance and SMEs: bridging the gaps in provision', Director-General of the WTO, Roberto Azevêdo, has issued a call for action to help close the gaps in the availability of trade finance that affect the trade prospects of SMEs, particularly in Africa and Asia. The report highlights that availability of trade finance is essential for a healthy trading system, and a lack of trade finance is a significant barrier to trade. However, SMEs in particular face challenges in accessing affordable financing, with over half of their trade finance requests rejected (compared to just 7% for multinational companies). “Without adequate trade finance, opportunities for growth and development are missed and companies are deprived of the fuel they need to trade and expand,” said DG Azevêdo. To read the WTO's news release with a link to the full report go to
UK SME manufacturers forced to wait almost twice as long as larger rivals for invoices to be paid. Research from the Asset Based Finance Association (ABFA) has shown that UK SME manufacturers waited an average of 67 days for invoices to be paid last year, whereas the largest manufacturing businesses - those with a turnover over £500 million - waited an average of just 38 days. ABFA suggests that the figures indicate that the issue of late payment, and poor payment practices more generally, has become increasingly ingrained in business practice since the credit crunch and has now become endemic across many sectors. In addition to late payment, the ABFA explains that it is increasingly common for large businesses to seek to impose extended payment terms in contracts with their SME suppliers. To read ABFA's news release go to
The UK high street records its biggest drop in sales since the height of the recession. BDO has reported that its monthly High Street Sales Tracker recorded a 6.1% fall in overall year-on-year sales in April – the worst overall figures since February 2009. The fashion sector also hit a low not seen since February 2009 – when the world was in the grip of the global economic crisis – with a like-for-like sales drop of -9.2% on last year and by - 9.7% in February 2009. Sophie Michael, Head of Retail and Wholesale at BDO LLP, commented that with consumer confidence particularly weak driven by recent High Street corporate failures, global events and uncertainty around the ‘Brexit’ referendum, consumers kept a tighter than usual grip on their wallets in April. To read BDO's news release go to
UK economic growth slows in Q1 2016. Latest statistics from the Office for National Statistics report that UK GDP is estimated to have increased by 0.4% in Q1 2016 compared with growth of 0.6% in Q4 2015. This is in line with forecasts. In Q1 2016, GDP was estimated to have been 7.3% higher than the pre-economic downturn peak of Q1 2008 and 2.1% higher compared with the same quarter a year ago. Although Q1's figures represent a 13th consecutive quarter of positive growth for the UK economy, this is, nonetheless, the slowest single quarter growth since the end of 2012. To read the ONS' news release go to
Contains public sector information licensed under the Open Government Licence v3.0.
Signs of UK business growth in biggest fall in four years. New research by R3 has found that although signs of business distress are still relatively low, UK business growth has now fallen back to 2013 levels - the first signs of businesses’ performance plateauing. Andrew Tate, president of R3, commented: “UK businesses have moved into a new phase of the economic cycle. The relatively rapid growth associated with recovery and the boost provided by low inflation and low fuel costs last year look as though they are now falling away. Headwinds, such as uncertainty over the future of the UK in the EU, stock market worries, or incoming compliance and reporting changes, are starting to pick up, too. The latest survey suggests some companies are still doing well and are showing several signs of growth, but more companies are showing no signs of growth at all.” To read R3's news release go to
Profit warnings down in the first quarter of 2016 but still remarkably high. According to EY’s latest Profit Warnings report, UK quoted companies have issued a remarkably high number of profit warnings: 76 profit warnings during the first three months of this year – down marginally from 77 in the same quarter of 2015. In the twelve months to the end of Q116, 17.2% of UK quoted companies issued profit warnings compared with 16.5% at the same point in 2015. The FTSE sectors leading profit warnings in Q1 were: Support Services (9), General Retailers (8) and Media (7). The FTSE sectors with the highest percentage of companies warning in the year-to-date are: Oil Equipment, Services & Distribution (50%), Mobile Telecommunications (50%) and Electronic & Electrical Equipment (50%). To read EY's news release go to
The CBI advises that there are signs that the UK economy is picking up. According to the latest CBI Growth Indicator, private sector growth picked up in the three months to April. The survey of 764 respondents across the manufacturing, distribution and service sectors showed the pace of growth improved after falling to its slowest rate since May 2013. In addition, expectations for continued output growth over the next three months remain healthy and above the long-run average. Rain Newton-Smith, CBI Director of Economics, said: “There are signs that the economy is picking up as we put the tough start to the year behind us. Manufacturing is stabilising, the services sector is performing well, and it’s good to see solid expectations for further growth. . . But global risks to UK growth remain in the path as our course steadies. The possibility of more volatility in financial markets, concerns about debt positions in China, and uncertainty ahead of the EU referendum could impact on activity.” To read the CBI's news release go to
Q1 2016 UK corporate insolvency numbers increase, but are still well below Q1 2015 levels. The Insolvency Service has reported that its latest statistics for Q1 2016 show that although company insolvencies were still lower than Q1 2015, they increased for the first time since Q1 2014. Phillip Sykes, president of R3, commented: "The rise is driven by compulsory liquidations which indicates that creditors, probably including HMRC are beginning to lose patience with customers who are not paying their debts . . . At the same time it is interesting to see that the estimated liquidation rate is at its lowest level since comparable records began in 1984, this is a sign of the continuing strength of the economy." To see the Insolvency Services' latest figures go to For R3's news release go to
Contains public sector information licensed under the Open Government Licence v3.0.
UK economy boosted by fast-growing Indian companies.  A new report, 'India meets Britain 2016: Tracking the UK’s top Indian companies', published by Grant Thornton UK in association with the Confederation of Indian Industry, reveals that fast-growing Indian companies are making an important contribution to the vibrancy of the UK economy. The report, which monitors fast-growth Indian businesses operating in the UK, shows that the combined turnover of these businesses has increased by £4 billion in the last year to £26 billion in 2015. In addition, while there has not been a large increase in the total number of Indian companies in the UK over the last year, the number of Indian companies growing at more than 10% – the key benchmark for inclusion in the tracker – has nearly doubled, from 36 to 62 firms. To read Grant Thornton's news release go to
UK retail sales fall on a year ago but growth expected next month. According to the CBI’s latest monthly Distributive Trends Survey, UK retail sales fell at the fastest pace since January 2012 over the year to April 2016, disappointing expectations for a pick-up in growth. Within retail, department stores and the clothing sector were the main drivers behind the fall in sales. Performance also deteriorated in the durable household goods sector and in footwear and leather goods. Meanwhile, growth in the volume of internet sales slowed in the year to April, with the survey balance falling further below the long run average. Sales are expected to rebound next month, while orders are set to fall at a broadly similar pace. To read the CBI's news release go to
Career Opportunities
Featured listing . . .
Claims Adjuster - Credit Lines. QBE.
To efficiently handle a dedicated caseload of claims in respect of all aspects of Trade Credit & Surety, within specified customer service standards and authority levels.
General description: To effectively manage a caseload of claim files prioritising new and existing work appropriately. To pro-actively seek to establish liability and indemnity on all claims being handled by them at any given time. To take telephone calls and action letters. To manage all claims competently to ensure that they are adequately reserved and settled as economically as possible. To develop and maintain an in depth knowledge of legal & regulatory matters. To manage and reconcile recoveries that arise from Insolvency claims  A working knowledge of the legal systems and insolvency processes within the UK and Europe.
Essential Requirements:  Experience in credit management and credit control procedures. Developed investigation and negotiation skills. Excellent communication skills, both verbal and written. Relationship management skills. Ability to work on own initiative. Effective workload organisation skills, with the ability to work under pressure, whilst meeting tight deadlines. Ability to use MS Office applications, Word and Excel.
To apply for this position, please go to (Please mention Credit Insurance News Digest).
Growth Market Speculative applications
Euler Hermes is investing in a number of growth markets as the key to success is through our staff. We want to invest in a number of growth markets to reduce our dependency on mature markets. One of the main roadblocks to faster growth market development is the struggle to attack local talent and build sustainable staff pyramids. Our own experience has shown that some of the best resources (in terms of competence and commitment to EH) are local people returning after a first experience in a mature market. Therefore we set up the Growth Market Talent Pool (GMTP) whereby we source promising talent in mature markets with a view to relocating them to growth markets after a few years.
 What we will offer you:
  • Subject to meeting the resident labour market test, we will sponsor Tier 2 general work permits for the UK where appropriate 
  • Competitive salary, bonus and benefits package 
  • Regional HR coaching by phone 
  • Mentoring by growth market mentor 
  • Support to ease transfer to growth market and transfer bonus 
We are always interested in hearing from talented people with the right to work in China, Poland, Russia, Romania, Turkey, South Africa, Nigeria, Middle East, Morocco, India and Brazil. If you have a background in a growth market country, are multilingual and want to relocate to a growth market country after gaining invaluable experience in the UK with the leading provider of Credit Insurance, please submit a speculative application. To apply go to (Please mention Credit Insurance News Digest).
Credit Insurance Account Handler, West Yorkshire £25,000 - £42,000, Dependent upon experience.
I am delighted to be working in partnership with a National Insurance Broker, who have a strong local presence, and are able to provide outstanding levels of service. Due to a period of growth my client is looking to recruit a new member to work within the Credit Insurance Team. If you are an individual who has previously had exposure to Credit Insurance and is looking for both career and salary advancement then this may be the role for you. My client will also consider employing individuals within a predominantly office based role, and / or within an external customer facing role. For an experienced Credit Insurance Account Handler or Credit Insurance Executive, it would be the opportunity to deal with some larger sized businesses and have the ability to deal with more technically advanced cases. My client will also 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; Deal with larger end businesses and more technically based cases; Support the Account Executives; Chase Credit limits; Monitoring Overdue payments; Liaise with Underwriters; Be reactive to the clients needs and take ownership of tasks.

In return you will have the opportunity to be part of a 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. Modern offices and a whole host of benefits. 
Salary is very much dependent upon experience and ranges from £25,000 - £42,000.  
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. In order to speak further in confidence, please contact Helen Spriggs on 0113 2368957 or email your CV to (Please mention Credit Insurance News Digest).

New Appointments
Markel International has announced that it has appointed Lida Heaven as an underwriter in its trade credit and political risk division. Lida’s role is to assist with the development of Markel’s political risk book, with a particular focus on the contract frustration business. She joins following the recruitment of Nicola Marriage, senior underwriter, in January this year, to lead the political risk team. Lida has previously worked as a political risk and structured credit broker with Aon Risk Solutions.
XL Catlin has announced that it has appointed Dan Riordan as President, Global Political Risk & Trade Credit (PRTC), reporting to Neil Robertson XL Catlin’s Chief Executive, Global Specialty, Insurance. The appointment also marks a structural change at XL Catlin with PRTC becoming a separate underwriting unit, having previously been under the umbrella of Crisis Management, led by Stephan Ashwell. Mr Riordan most recently served as CEO of Global Corporate in North America. He has also had a long association with the Berne Union, holding the position of President between 2013 and 2015. 
Euler Hermes has announced that it has appointed Jules Kappeler as the CEO of the Gulf Cooperation Council (GCC) region, responsible for Euler Hermes operations in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. Mr Kappeler will report to Luca Burrafato, head of MMEA region.
Forthcoming Events
Featured Event
Coface Country Risk Conference 2016.
Thursday 9 June 2016.
RISKS & OPPORTUNITIES IN THE WORLD OF TRADE. The Conference will provide country and sector information to help companies and their advisers to identify the risks and rewards of trading in the UK and exporting. This will then help companies to develop a strategy to maximise their trading opportunities. During the half day event, experienced commentators provide insight on: UK Economy, Emerging Markets, Cyber Security, Geo-political Risks. Plus two Roundtables with further contributors from industry. Register your interest by emailing
East Africa Trade & Commodity Finance Conference. 10-11 May, Nairobi.
Recognised as the leading gathering of trade finance professionals in the region, GTR’s East Africa Trade & Commodity Finance Conference returns to Nairobi on May 10-11. Benefiting from positive trade relations between its neighbouring countries, the conference will seek to explore the current economic challenges facing Kenya’s commodities sector. Further discussions will draw focus on the agricultural sector which forms a vital part of the Kenyan economy. The event will feature dedicated networking sessions, offering attendees the chance to form new working relationships and re-acquaint themselves with old contacts, with the prospect of developing business within East Africa and beyond. 5% discount for Credit Insurance News Readers with CIN15 - go to
GTR Europe Trade & Export Finance Conference, 12 May. Hamburg.
 GTR Europe Trade & Export Finance Conference will return to Hamburg for the next instalment on May 12, 2016. The event is recognised as the continent’s leading gathering for European trade, export, commodity and supply chain finance professionals. With over 200 senior decision makers expected in attendance, networking provides an essential element of the event, allowing delegates to forge new contacts and renew old acquaintances in a more informal setting. 5% discount for Credit Insurance News Readers with CIN15 - go to
Trade Receivables Securitisation Summit Date: 16 May 2016 Venue: Clifford Chance, London.
BCR Publishing and Clifford Chance are pleased to present the 2nd annual summit on Trade Receivables Securitisation, taking place 16th May 2016 in London, UK. This unique and focused programme will give a complete update on the latest developments in trade receivables securitisation including new deals, markets, investor appetite, off-balance sheet treatments, credit risk and the impact of new 'disruptive' technologies.
Click here for more information about this event. Credit Insurance News readers can enjoy a 10% discount to attend this event, please go to and quote discount code - TRS10.
5th Annual Insurance Underwriters Event: Could Economic & Political Unrest Spell Trouble for Insurance Companies? 17 May 2016, London.
Join us in London on Tuesday 17th May for our annual insurance underwriters event, when speakers from Standard & Poor’s Ratings Services and S&P Global Market Intelligence will discuss the economic outlook for 2016 and beyond, credit risk trends for corporations and the sectors to watch out for, and how a Brexit could potentially impact UK insurance companies.
To find out more and register for this exclusive event, click here:
TXF Natural Resources and Commodities Finance 2016, 18th & 19th May 2016. Amsterdam.
Discover what the future will hold for commodity financing at the DeLaMar Theatre in May.
 Learn about current challenges and best business practices from industry experts. Learn from real case studies and from your peers. Meet traders, producers and financiers at our sell-out industry dinner.
To find out more about TXF Amsterdam click here to visit our website. We are currently offering a 10% discount code to CIN readers – to make the most of yours use the code CINAMST on our booking page.
Asia Trade & Supply Chain Finance Conference. 6 June. Hong Kong.
 The GTR Asia Trade & Supply Chain Finance Conference will return to Hong Kong on June 6, 2016, building on 2015’s inaugural event which welcomed close to 250 business leaders and supply chain finance specialists. Opportunities offered by Hong Kong as a gateway to markets such as China and other North-East Asian economies, as well as the innovative financing techniques being utilised to optimise working capital and manage risk across the supply chain will all feature in this year’s timely agenda. Leading treasurers, traders, financiers and risk managers from various companies, sectors and countries will provide insight through detailed case studies, work-shop style focus sessions and interactive panels, while extensive scope for networking will also be built into the day’s events giving delegates the chance to connect with their trade finance peers. 5% discount for Credit Insurance News Readers with CIN15 - go to
TXF Trade, FinTech & Treasury 2016. 7-8 June 2016, London.
TXF Trade, FinTech & Treasury is moving to Glaziers Hall in London.  Focused and creative, this event will bring together Treasurers, CFOs and Managing Directors for two days of interactive idea labs, networking and plenary discussions. We’re keeping our speakers senior, our sessions interactive and our event corporate- centric. However, this year we will also be introducing new sessions on financial technology and its predicted effect on supply chain finance and treasury management.
If you are interested in finding out more, jump on our website. In addition, CIN readers will be entitled to a 10% discount. To claim yours, use the code: CINLOND on our booking page.
Coface Country Risk Conference 2016. Thursday 9 June 2016.
RISKS & OPPORTUNITIES IN THE WORLD OF TRADE. The Conference will provide country and sector information to help companies and their advisers to identify the risks and rewards of trading in the UK and exporting. This will then help companies to develop a strategy to maximise their trading opportunities. During the half day event, experienced commentators provide insight on: UK Economy, Emerging Markets, Cyber Security, Geo-political Risks. Plus two Roundtables with further contributors from industry. Register your interest by emailing
TXF Export, Agency and Project Finance 2016. 9th & 10th June 2016. Rome.
This year we are taking our flagship export and project finance event to the Cavalieri hotel in Rome. More than 700 corporate and sovereign borrowers, exporters, project sponsors, developers, ECAs, DFIs, underwriters, financiers, brokers and lawyers will converge on June, 9th & 10th for a conference of epic proportions. Meet your next business partner at an event that promises intimate networking, confidential discussion and some of the most senior speakers in the industry.
To download our brochure and find out more, please visit our website. CIN readers are entitled to a 10% discount. Just use the code CINROME on our booking page to secure your place.
UK Trade & Export Finance Conference, 15 June. Liverpool.
 Returning for its fourth year, the UK Trade & Export Finance Conference moves to its new base of Liverpool for 2016, incorporating the UK National Awards for Export Excellence and featuring as part of the International Festival for Business 2016. Benefiting from established support from organisations such as UK Export Finance, UK Trade & Investment, British Chambers of Commerce, Institute of Export, International Chamber of Commerce and the British Exporters Association, the conference will provide a crucial forum for the UK’s business, government and financial sectors to meet and discuss ongoing trade priorities. High on the day’s agenda will be the accessibility of financing for exporters, including the rise of alternative finance, as well as opportunities available to companies looking to enter markets such as Africa, Asia and Latin America, with the overriding theme being how to increase the UK’s competitiveness globally. With speakers from across the domestic and international trade finance community on hand to offer practical guidance and direction, the conference will provide delegates with invaluable networking opportunities with a wide range of companies experienced in international trade. Following the conference will be the UK National Awards for Export Excellence 2016. The awards will celebrate and commemorate the achievements of the UK’s exporters over the last year, rewarding excellence across a range of sectors and geographical regions. These awards reward export excellence in a chosen discipline, and companies of all sizes are eligible to enter. They will be judged by an independent panel of experts from some of the UK’s leading institutions. All UK exporters are invited to submit their entries for consideration before March 24, with the winners being announced at a black-tie awards ceremony on the evening of June 15. 5% discount for Credit Insurance News Readers with CIN15 - go to
North America Trade & Working Capital Conference, 16 June. New York.
 Returning to the city for its fourth consecutive year, GTR‘s annual gathering in New York has evolved into the North America Trade & Working Capital Conference for 2016. Over 200 high-level business leaders are expected in attendance to discuss key issues and challenges involved in securing business with high-growth emerging markets, as well as addressing concerns of those conducting cross border trade, with a particular emphasis on working capital priorities of exporters and importers currently operating in the region. Imparting their valuable knowledge and experience, the conference will feature on stage participation from wide range of organisations involved in international trade, offering delegate’s unrivaled access to the market’s top decision-makers all under one roof. 5% discount for Credit Insurance News Readers with CIN15 - go to
Trade Credit, Bond and Political Risk Insurance Industry Dinner, hosted by Nexus CIFS. 3 November, London.
Nexus CIFS announces:
We are privileged to host this year’s Trade Credit, Bond and Political Risk Insurance Industry Dinner and what a memorable evening we promise you in the magnificent surrounds of The Grand Hall, Old Billingsgate.
On arrival at our sparkling Winter Wonderland we invite you to enjoy a glass of fizz and listen to the young, talented Marsh Trio performing chilled acoustic vibes before enjoying a sublime supper. Silent and live auctions through the evening will give you the opportunity to bid on some amazing items and at the same time support our chosen charity, The Royal Marsden.
Our famed auctioneer, Hugh Edmeades of Christies, will get things moving. Hugh certainly knows a thing or two about running a successful event having conducted more than 2,300 auctions, selling 300,000 lots for a total sum in excess of £2.2 billion!
We are delighted that Gyles Brandreth is joining us as our after dinner speaker to deliver his highly entertaining razor sharp wit. We know he’ll have you rocking with laughter in your seats before you take to the dance floor or kick back and relax whilst catching up with old friends and colleagues.
Places are always limited at this yearly event, so don’t miss out on the 3rd November 2016 and book your tickets early. Visit and follow the white rabbit to place your reservation.
About this Issue's Sponsor: AIG
AIGTrade+ is a trade credit product which uses technology to combine “ground up” cover with non-cancellable credit limits and is suitable for businesses with an annual turnover between £5 million and £50 million.
Features & Benefits
AIGTrade+ provides credit limits that are non-cancellable for 12 months. Credit limits are calculated automatically using trading history or set by an AIG underwriter, relieving the client of responsibility for setting discretionary limits and the customer analysis this involves.
AIGTrade+ uses an online platform to analyse how the policyholder’s buyers are performing. It displays an up to date picture of exposure cover, provides stop shipment alerts and ensures policy compliance by removing the need for overdue reporting and turnover declarations.
AIGTrade+ enables a simplified claims process due to pre-approved limits and invoice data being already captured within the IT platform.
To find out more please contact Jon Barnes on 020 7954 8347 or via email: or speak to a member of the UK Trade Credit team.
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