Register to join our mailing list and receive notification and a link to each Credit Insurance News Digest as it is published.   

* indicates required
Welcome to Issue 72 of Credit Insurance News Digest. This issue is sponsored by Tokio Marine HCC.
Credit Insurance News
UK small businesses are big winners with trade credit insurance. The Association of British Insurers (ABI) has published a news release which underlines the good value that trade credit insurance represents for small businesses. In 2015 for example, ABI figures show small businesses received 25% of the total value of claims paid, but paid just 15% of the total premium. In addition, small businesses made up 40% (4,400) of the total claims made to trade credit insurers, an increase of 25% on the previous year and above the market average of a 19% rise. ABI Manager for General Insurance, Mark Shepherd commented: “Trade credit insurance is crucial for all businesses to help them navigate potential risks. In particular, SMEs looking to grow can have confidence that a trade credit insurance policy will help them to do this whilst guarding against the unexpected.” In total, more than 7,000 trade credit insurance policies were taken out by UK SMEs in 2015, nearly 60% of policies sold. To read the ABI's news release go to
Global credit insurance market has seen an increased demand for non-traditional business lines. AU Group has published a new report, 'Credit Insurance Market in 2016', which advises that players in the credit Insurance industry can be broadly divided into two main categories: global insurers and niche insurers. However, despite the industry's now numerous players, the market remains 'very oligopolistic', with the top three global insurers sharing 81.5% of the market, while the niche players tend towards expertise in particular products, certain geographical areas and different types of risk. The report also finds that so far 2016 has shown an increased demand for non-traditional business lines such as excess of loss, bonding, single risk and political risk cover, while credit risk solutions linked to financing programmes (factoring, reverse factoring and securtisation) continue to be a major source of new business for insurers. To register your details to receive this free report go to
Credit Insurance: "Where's the umbrella now that it's starting to rain". CFO Innovation has published an article, in which Andreas Tesch, Chief Market Officer at Atradius, stresses that any criticism that credit insurance is the umbrella that closes when it starts to rain is unfounded: "I would rather claim we are the weather forecaster and we tell you to bring your umbrella or not." He continued: "Credit insurance is two-fold. On the one hand, it’s prevention by educating our customers about the right and the wrong buyers, and helping them to collect outstanding invoices. The second aspect is, when push comes to shove, to indemnify them for a defaulted invoice." Mr Tesch also spoke to CFO Innovation’s Cesar Bacani about what CFOs can do to get credit insurance coverage, the value-added risk-management consulting that comes free with credit insurance and other issues. To read the article on CFO Innovations' website go to
Euler Hermes warns Brexit without a Free Trade Agreement would return the UK to recession by 2019. Euler Hermes has warned that Brexit without a Free Trade Agreement (FTA) could lead to a sharp rise in the number of insolvencies for both the UK and its key European partners. In its latest Economic Insight ‘Brexit: what does it mean for Europe?’ Euler Hermes warns that even in a ‘soft leave’ scenario - an exit with a new FTA with the EU post-2019 - UK real GDP growth would fall by a cumulative -2.8pp between 2017 and 2019, and some 1,500 additional companies would become insolvent during the next three years. In a ‘hard leave’ scenario - if no FTA is agreed - the impact would be much more severe. UK real GDP growth would fall by -4.3pp,, coupled with some 1,700 additional insolvencies beyond the current forecast. In addition to the UK, Euler Hermes estimates that Brexit would have the most significant impact on the Netherlands, Ireland and Belgium. France, Germany and the US would also experience a significant impact. To read Euler Hermes' news release go to
Must-haves in a Trade Credit Insurance provider. Longitudes has published an article, '3 must-haves in a Trade Credit Insurance provider', which advises that there are three basic principles a company should consider when buying trade credit insurance: Supply chain expertise (a company that understands supply chains and their inherent risks), a true partner willing to take the time to learn their client's business, and quick response customer evaluation. The article concludes: "With a massive amount of data and resources, trade credit insurers are in a far better position to do this than a typical firm . . . The bottom line is that trade credit insurance should be purchased from a supply chain partner, not just an insurance expert. It should be purchased from a provider that can customize a process to fit the company’s needs." To read the article go to
Reprinted with permission of Longitudes, the UPS blog devoted to the trends shaping the global economy
Default on export invoices ticks up in Eastern Europe. Atradius' latest 2016 Eastern European Payment Practices Barometer survey shows that  although the Eastern European economy is expected to continue growing at 1.1% this year (mainly led by Poland), business conditions and the insolvencies picture is erratic with a rising trend in late payment of invoices on exports impacting cash flow. Atradius found that the average total value of export invoices unpaid at the due date increased to 40.8% from 34.2% last year, while the average value of overdue domestic invoices rose to 45.0% from 41.2% last year. The increase in foreign trade credit risk in Eastern Europe also caused a knock-on effect on the supply chain. Around 30% of respondents in the region (compared to 25% in Western Europe) paid their own suppliers late due to slow payment by their customers. To read Atradius' Barometer go to
Country specific Late Payment Barometers are also available for Czech Republic, Hungary, Poland Slovakia and Turkey at
An overview of trade credit insurance in Spain. Astreos Credit has published an overview of credit insurance in Spain which reports that although Spain has a mature industry knowledge of credit insurance (Credito y Caucion (Atradius Group) has been operating in credit insurance since 1929), the Spanish credit insurance market is highly differentiated according to the origin of companies: foreign subsidiaries operate almost entirely with credit insurance, while credit insurance has a lesser penetration with companies with local capital and which are smaller in size. The Overview also advises that as in many other European countries, the Spanish trade credit insurance market is an oligoply, with Credito y Caucion (Atradius) representing around 35% market share and Cesce (state-owned) around 20%. Solunion (Euler Hermes) and Coface share equally 30% of the market. To read the Overview go to!Overview-of-credit-insurance-in-Spain-2016/ceze/57385e240cf2892989bd5c82.
A condensed view of country risk assessments published by Atradius, Coface, Credimundi and Euler Hermes. AU Group has published its latest AU G Grade for 2nd quarter 2016 to provide an at-a-glance picture of major tends and the levels of risk for 140 countries. The 'G Grade' is based on the individual assessment of a country by each of the 4 main credit insurers, Atradius, Coface, Credimundi and Euler Hermes, but condensed and presented as a single score. In addition, the report provides 7 key indicators provided by the IMF Statistics Department. In this report, around fifteen countries have seen their G-Grade evolve significantly, with notable downgrades to Brazil and countries dependent on the Brazilian economy. To obtain a copy of the free report go to
The turbulent waters that the global economy faced at the beginning of the year have calmed but the underlying issues persist. Atradius has published its latest Economic Outlook which provides an examination of the health of the global economy and what symptoms it needs to watch out for in the coming year to ensure its (very gradual) recovery. Atradius advises that although '"the turbulent waters" that the global economy faced at the beginning of the year have calmed, the underlying issues persist and the world is facing another year of sluggish growth. In 2016, global economic growth is expected to slow to 2.4% - down from 2.6% last year, the eurozone is forecast to expand only 1.5% while the US will slow down to 2.0% growth. In addition, another contraction of -0.6% is forecast in Latin America while Eastern Europe continues its recovery with 1.1% growth. Emerging Asia will experience the most rapid growth in 2016 with a 5.6% expansion. To read Atradius' news release with a link to the full report go to
New global association for export credit and investment insurers. GTR (Global Trade Review) has published an article, 'Berne Union and Prague Club to merge', which reports that the Berne Union and Prague Club have agreed to create a new global association for export credit and investment insurers. The new integrated Berne Union will have 81 members from 73 countries. A statement issued by the Berne Union advised: “A new Prague Club Committee will complement the existing Berne Union specialist committees, while retaining the unique identity of the Prague Club.” The Berne Union’s president, Topi Vesteri commented that the decision “contributes to a much closer framework among experts and a stronger voice for our products globally.” To read GTR's article go to
Germany wins the Eurovision Trade Contest with its song 'The winner takes a lot'. Euler Hermes Economists have announced that, using the Eurovison song contest as inspiration, they have come up with rankings and an appropriate song choice for an Eurovision trade contest. With the best trade performance predicted over the next two years, the triumphant winner is Germany with its song 'The winner takes a lot'. Britain achieves second place with 'Don’t go Brexit my Heart', followed by the Netherlands with 'Sometimes when we Dutch' and France with 'Comme d’aptitude'. Ludovic Subran, chief economist at Euler Hermes. commented: “Germany has collected major points for energetic trade performance, and Britain may need to get over the pain of a possible divorce. The Netherlands comes in third with gentler sounds, followed by France with a talent for export." To read Euler Hermes' news release go to
Advances in the political risk landscape present a window of opportunity for brokers and insurers. Insurance Business has published an article, 'Reduced political risk presents opportunities for brokers, says Aon', in which Karina Rodriguez Diaz, Crisis Management, Aon, says that Aon’s 2016 Political Risk Map for emerging markets showed that for the first time in three years, improvements in the political risk landscape had far outweighed deteriorations, and the time was right for brokers to work with insurers on developing products offering out-of-the-box solutions for clients. Eight countries had been upgraded by Aon (China, Iran, Pakistan, Ethiopia, Jamaica, Nepal, Serbia and Haiti) while only four countries were downgraded (Cape Verde, Micronesia, Philippines and Suriname), she said. To read Insurance Business' article go to
Is the French economy definitely taking off? Coface's latest Panorama, 'Is the French economy definitely taking off?', reports that the steady growth which the French economy began to show in 2014 has gathered pace with +0.6% growth in Q1 2016 compared to Q4 2015. Coface is now forecasting economic growth of 1.6% in France in 2016 and 1.3% in 2017, with a 3.2% reduction in corporate insolvencies this year. However, Coface warns that although imports increased in Q1 (+0.5%), exports decreased by 0.2% partly due to the slowdown in economic activity among emerging markets. Furthermore, France has only one third as many exporting companies as Germany - out of a roughly similar total number of firms, and only one out of every ten first-time French exporters is expected to still be exporting in three years. To read Coface's news release with a link to the full report go to
As China's economy splutters, Asian trading hubs should expect a tough year. Project M has published an article, 'Outlook for Asian trade hubs is darkening', in which Euler Hermes forecasts a 20% jump in corporate insolvencies for China this year and notes that, when added to the actual increase from 2015, the two-year rise in insolvencies could reach 50%. Altogether, more than 7,000 companies could be wiped out in China over the 2015-2016 period, with the construction, materials, manufacturing and electronics industries particularly vulnerable. In addition, the spillover is expected to hit trade-sensitive Asian hubs with a higher risk of late and non-payments, and Euler Hermes projects that insolvencies could rise this year by more than 15% in neighbouring Hong Kong and Singapore, two transport hubs that are highly exposed to the global slowdown in trade. To read the full article go to
UK consumer durables sector still feeling the effects of recession. Atradius has reported that while on paper the recession is over, its legacy continues to challenge the consumer durables market. Owen Bassett, Senior Underwriter for Risk Services at Atradius warns: "The British retail market is extremely competitive and, with changing shopping behaviours such as increased price sensitivity among consumers and a growing share of online retail sales, all signs indicate that insolvencies will continue to occur." Mr Bassett continued: “The success and resilience of consumer durables retailers increasingly depends on their ability to adopt new market strategies. Expansion of online offerings and provision of additional services is critical as well as agility in responding to opportunity. For example, the Euro 2016 tournament has potential to provide a platform for the sector if retailers can market effectively and translate ‘football fever’ into sales." Click here to read Atradius' recent news release.
Small businesses can struggle to secure the credit insurance necessary for success. An article by, 'A realistic approach to trade finance growth', reports that while small businesses can struggle to secure the funds and credit insurance necessary for success, a recent report by the World Trade Organisation has found that small businesses in developing nations are especially challenged with securing these tools. While 80% of global trade is facilitated by some kind of trade finance or credit insurance tool, the report noted, that service is neither uniform nor universal. To read the article on go to
Brazil: an economy on the brink of collapse. Coface' latest Panorama on Brazil reports that Brazil’s economy contracted by 3.8% in 2015 (the worst results since 1990) and a further drop in GDP of 3% is expected in 2016. Insolvencies also reached a record high in 2015, with the number of failures expected to remain high in 2016. As a result, Coface downgraded the country’s assessment from A4 to B (significant risk) in September, and then again to C (high risk) in January 2016. The three main credit rating agencies have also downgraded Brazil to junk status. Coface warns that the Brazilian economy will not begin its recovery before the political impasse (the impeachment of President Dilma Rousseff) has been resolved, and only two indicators are expected to improve in the short term: trade balance and inflation. To read Coface's news release with a link to the full report go to
Creditors threatened by high corporate sector indebtedness in Bulgaria. Credendo Group has published a new Country Risk Assessment for Bulgaria which stresses the high indebtedness of the corporate sector. This represents a threat to both the Bulgarian banking sector and other creditors. Bulgaria notes one of the highest non-financial corporate sector debts among new EU member states. The industries, according to the European Commission, facing the highest debt sustainability risks comprise construction, real estate, hotels and restaurants and other business services. To read Credendo's analysis go to
3 in 10 UK businesses perceive that the overall level of risk has increased over the last 6 months. QBE has published a report, 'Managing the risks of competitive markets', which reports that despite a positive return to economic growth over the last two to three years, it is clear from their research that UK businesses are continuing to operate in what they consider to be a 'genuinely risky environment'. Three in ten respondents perceive there to have been an increase in overall business risk over the last six months, while, in contrast, only one in twelve perceive the overall level of risk to have reduced over the period. Furthermore, this pessimistic view about the immediate outlook for risk is shared by companies of different sizes, although it is particularly evident in the responses of companies in the Building/Construction sector, as well as those in the London (within the M25) area. Click here to read the report.
Hungary is performing well, considering the context of struggling economies globally. Coface' latest Panorama on Hungary reports that the Hungarian economy has been recording solid growth rates since its recession in 2012. Although the growth of 2.2% forecast for this year by Coface will be slower than the 2.9% achieved in 2015, this will mainly be due to the slower absorption of EU funds - which should speed up from next year. Although Coface advises that business sentiment will take some time to recover, companies are becoming more confident about the economic outlook . To read Coface's news release with a link to the full report go to
Just how bad is China's debt problem. Andreas Tesch, Chief Market Officer at Atradius, has been interviewed by Bloomberg about debt levels in Asia, different types of leverage in emerging markets and his outlook for the region. To view the clip go to
And finally . . .
Equinox Running against Homelessness. Two teams from Equinox Global will be participating in the Crisis Square Relay Run on 9 June to raise money for Crisis, the charity which helps homeless people rebuild their lives through housing, health, education and employment services. Donations are very welcome and can be made through the Just Giving website -  Good luck to all taking part!
Premiums4Good. QBE has launched a new initiative, Premiums4Good, which enables their policyholders to request that QBE invests up to 25% of their premium in investments which deliver benefit to communities and the environment. For more information about the initiative (including a brochure and video clip) go to
Congratulations. Congratulations to the following companies and subscribers to Credit Insurance News Digest who won their category at the GTR Asia Leaders in Trade 2016 awards: Best trade credit insurer in Asia Pacific, Coface; Best political risk insurer in Asia Pacific, Chubb; Best export credit agency in Asia Pacific, Sinosure; Best trade credit and political risk insurance broker in Asia Pacific, JLT; Best export finance bank in Asia Pacific, HSBC; Best trade outsourcing bank in Asia Pacific, Wells Fargo; Best alternative financier in Asia Pacific, Falcon Group. For a complete list of all Award winners go to
Business Information
UK Mid-market firms lose £48 billion each year from failing to adequately mitigate risks. The UK’s mid-market businesses lost approximately £48 billion last year due to a failure to adequately mitigate risks directly within their control, according to new analysis by KPMG Enterprise. In particular, an over-reliance on a small number of suppliers has left companies vulnerable to costly fractures in their supply chain and a loss of vital revenues amounting to approximately £8.3 billion each year. Furthermore, despite half of respondents saying that the threat of losing major customer accounts was their most pressing day-to-day concern, over a quarter (29%) admitted that they rely on their top five customers for more than half of their turnover – again, leaving them exposed to the risk of bad debt, or a significant loss of income should those key customers switch loyalties. To read KPMG's news release go to
New 90-day moratorium for failing UK businesses will seriously impact creditors. In response to a review of the corporate insolvency framework being undertaken by Insolvency Service (IS), Philip King, Chief Executive of the Chartered Institute of Credit Management has warned that a move to a new model similar to Chapter 11 for UK businesses heading towards insolvency could have serious consequences for creditors, cashflow and thousands of small businesses within the supply chain. A central plank of the IS’ proposals is the creation of a new moratorium, which will provide companies with ‘…an opportunity to consider the best approach for rescuing the business whilst free from enforcement and legal action by creditors.' The proposed moratorium would last for three months, with the possibility of an extension if needed. Mr King commented: "Viewed positively, this is a 90-day window for a company to work with a supervisor to turn the business around, save jobs, and secure a long-term future . . . Looked at another way, it is 90 days in which the less scrupulous can fritter away assets whilst being ‘untouchable’, to the serious detriment of creditors and the stability of the supply chain.” To read CICM's news release go to
Deloitte European CFO Survey: Politics dominates business worries. Deloitte has reported that its latest European CFO Survey has found that 25% of CFOs say they are more optimistic about the financial prospects for their company than they were three to six months ago, unchanged from the third quarter of 2015. CFOs in Sweden were the most optimistic, with 62% more positive. Spain (47%) and Ireland (45%) report the second and third highest levels of optimism but both have declined, "perhaps influenced by inconclusive elections." Overall, 68% of European CFOs say there is a high level of financial and economic uncertainty facing their business. Perceptions of uncertainty are highest in Germany, with 93% of CFOs reporting high levels of uncertainty, followed by the UK (83%) and Russia (72%). The lowest levels of uncertainty are seen in Norway, Sweden and Belgium. To read Deloitte's news release go to
CBI predicts slower UK growth as dark cloud of uncertainty looms.  According to the latest CBI economic forecast, the UK economy is expected to continue to grow – but at a slower rate – through 2016 and 2017, and there are signs that global economic risks, including uncertainty ahead of the EU referendum, are starting to weigh on investment plans. The CBI's latest quarterly forecast predicts that the UK will see 2.0% GDP growth in both 2016 and 2017, both of which are downgrades from its last forecast in February (2016 – 2.3%, 2017 – 2.1%). Carolyn Fairbairn, CBI Director-General, commented: “We expect the UK’s growth path to continue but it is likely to be at a slower rate than previously thought. . . At present, the economic signals are mixed – we are in an unusually uncertain period.” To read the CBI's news release go to
UK exporters report modest Q1 growth amid softening economy. The British Chambers of Commerce and DHL's latest Quarterly International Trade Outlook has reported that the number of UK firms reporting an increase in export orders and confidence rose at the start of 2016, following a drop in growth at the end of 2015. The report’s Trade Confidence Index, measuring the volume of trade documentation, rose by 1.4% in Q1 2016, compared with the previous quarter, to stand at an index of 116.04 in Q1 2016. However, in annual terms there was a decline of 4.4% on Q1 2015. During the same period, ONS data and the BCC’s Quarterly Economic Survey have shown that economic growth softened across the UK. Dr Adam Marshall, Acting Director General of the British Chambers of Commerce, said: “Our latest analysis suggests that, despite efforts from businesses and government alike, we are not yet succeeding in transforming the UK’s export performance." To read the BCC's news release go to
Credit Managers’ Index contradicts the Purchasing Managers’ Index which put manufacturing at a three year low. The Chartered Institute of Credit Management (CICM) has advised that its latest Credit Managers’ Index (CMI) (sponsored by Tinubu Square) has increased by 0.3 to 59.0, contradicting the PMI which put manufacturing at a three-year low. However, the CMI also found that while all three ‘favourable’ factors (credit sales, new credit applications and the order books) improved; each of the seven ‘unfavourable’ factors worsened for the second quarter in a row, with bad debt provision and rejected credit applications especially impacted. Michael Feldwick, Head of Tinubu Square in the UK commented: “The next few months are going to be a particularly nervous time for the British economy, as the EU referendum debate reaches its conclusion and the after-effects are felt. The critical thing for credit managers, is to ensure they are doing everything they can to control credit exposure in this uncertain environment.” To read the CICM's news release go to
European companies fear Brexit fallout could test economic resilience. With just five weeks to go until the UK’s referendum on European Union membership, new research from Grant Thornton’s International Business Report (IBR) reveals that the European business community is fearful of the impact a Brexit would have on the continent’s economy. Grant Thornton asked business leaders across Europe what impact a British exit from the European Union would have on the continent. Nearly eight in ten (79%) of those surveyed within the eurozone believe a Brexit would have a negative impact; in comparison, less than 4% believe it would be positive. In the UK itself, the vast majority of firms (68%) believe that Brexit will have a negative impact on Europe. The figures are also high among businesses in countries with long-standing trade relationships with the UK including Ireland (96%) and Germany (89%). To read Grant Thornton's news release go to
Enhanced manufacturing growth index indicates that the UK manufacturing sector is undervalued by £50 billion. RSM has advised that new statistics from Cranfield University’s enhanced manufacturing growth index indicates that the UK manufacturing sector is undervalued by £50 billion and is worth £208 billion. The new figures take into account the industry’s increasing capacity to generate economic growth in such areas as design and support in addition to just production. Mike Thornton, Head of Manufacturing at RSM, said: ‘The report highlights that manufacturing is more significant to the UK economy than commonly quoted. This reinforces what many people in the sector already believed, and cements the UK’s position as a manufacturing powerhouse, despite economic, political and resource pressures." To read RSM's news release go to
Career Opportunities
Head of New Business, Trade Credit. AIG. London.
AIG are hiring a Head of New Business for our Trade Credit team.
Key Responsibilities: Leadership and management of new business team, developing and supporting underwriters. Support PCM in meet deadlines for reporting PC strategy and budget development to senior management. Delivery of PC strategy and budget and responsible for premium portfolio. Setting commercial appetite and underwriting standards for UK /EMEA. Developing relationships with key broking partners and increasing AIG’s profile within the broking community. Promoting all lines of Trade Credit business, including TF, SCF, XSR, in addition to XoL and Multinational clients. Handling referrals from direct reports within authority levels Ensure compliance of AIG underwriting standards, Credit procedures and PC guidelines. Enhance UK as underwriting hub for EMEA Seek to develop new products for specific markets Develop commercial initiatives to increase submission flow Develop marketing initiatives and collateral to promote AIG products Develop alternative distribution channels in market, including AIG Distribution Promote and develop AIG’s Multinational offering.
Job Requirements: We are looking for a Manager with proven leadership and XoL underwriting skills in both risk and commercial. Ideally the successful candidate should be known and respected within UK market, with established broker relationships and be able to travel both domestically and internationally.
To apply for this position, please click here.
(Please mention Credit Insurance News in your application).
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 in your application).
Claims Adjuster - Trade Credit. City of London.
 A leading global insurance company is seeking a Trade Credit Claims Adjuster to join their team. Seeking an experienced adjuster who has working knowledge of Trade Credit. Ensuring that all claims are reviewed, processed and dealt with in compliance of company standards. The ideal candidate will come from either the company or Lloyd’s market and possess Trade Credit / Surety claims adjusting experience. Background knowledge of Trade Credit Risk would be a plus. The salary range is dependent on experience and knowledge, with the role bases in the City of London. For more information and to apply for this position, please contact Hannah Voller at Arthur on 0203 5877 975 or email (Please mention Credit Insurance News).
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 order to speak further in confidence, please contact Helen Spriggs on 0113 2368957 or email your CV to
(Please mention Credit Insurance News Digest).
Intern - Marketing Communications Assistant, Atradius, Amsterdam.
Atradius is looking for an intern in the Corporate Communications & Marketing team of the unit Group Communication & Commercial Development (GCCD). The role of Marketing Communications Assistant is focused on supporting the Group Corporate Communications & Marketing team, in particular with the operational digital and social media marketing activities of Atradius Group, with the objective to enhance Atradius’ brand awareness and reputation as the leading expert in the industry in order to attract new customers and partners. This hands-on and diverse but challenging role requires a proactive attitude towards executing and delivering concrete digital marketing initiatives. It is a good opportunity for a student or post-graduate candidate to gain experience within an international corporate environment. The role has basic tasks and requirements as well as potential to gain further experience and responsibility depending on the candidate’s progress, aptitude and ability.
This is an internship, full-time position (40 hours per week), for 12 months located at the Atradius headquarters in Amsterdam. The job will cover a variety of work supporting the various marketing communications functions including: Social Media, PR, events, digital campaigns and other activities.
What we offer: A fun and challenging place to work: dynamic, transparent and informal; A very international workplace; An environment where our people can achieve personal growth; Exposure to Corporate Communications and Marketing tasks in a dynamic international setting; Hands on experience in digital marketing; Excellent learning opportunities shaped in cooperation with you.
Interested? Please send your CV and motivation letter to Agnes Treuren:
(Please mention Credit Insurance News in your application).
New Appointments
Chaucer has announced that it has appointed Jonathan Bint as political risk underwriter and analyst to help drive Chaucer’s expansion of its political risk and trade credit product range. Mr Bint joins from the credit and political risk underwriting team at XL Catlin.
AIG Trade Credit has announced that it has appointed Nick Davies as a Senior Underwriter. Nick joins from Atradius and has over 10 years’ experience in the Trade Credit Insurance market at various levels, most recently at Atradius Reinsurance as Treaty Underwriter for SE Asia, China, Middle East and Sub-Sahara market. Mr Davies is based in London and reports to Yvonne McCormack, head of account management at AIG Europe.
Markel Corporation has announced that it has appointed Howard Lee as senior underwriter in its trade credit and political risk business in the US. Mr Lee will be responsible for business development, strategic planning, expanding broker relationships and servicing an expanding client portfolio and joins underwriting manager, Philip Amlot and associate underwriter, Christen Mizell. He will be based in New York. Mr Lee joins from Chubb’s political and trade credit division.
Coface UK and Ireland has announced that it has hired John Nicholas as risk underwriting director. Mr Nicholas joins from Stemcor Holdings, where he was credit risk director, responsible for the group’s risk management procedure. He also worked for eight years at Euler Hermes. His predecessor, Grant Williams, was named political risk director.
Atlas Risk has announced the appointment of Andrew Coakley as Account Executive. Andrew has many years’ experience, both in credit management as purchaser of credit insurance, and as a broker for HSBC and latterly Marsh.
Miller has announced that it has appointed Benjamin Gibbons in a business production and senior broking role at its London headquarters. Mr Gibbons specialises in structuring credit risk insurance policies for multinational banks in line with capital adequacy standards set forth under the Basel III accords within the EU. He joins from Marsh.
Euler Hermes has announced the appointment of Marita Kraemer and Ramon Fernandez to its Supervisory Board following its most shareholders meeting in Paris. They respectively replace Clement B. Booth, member of the Supervisory Board since September 2009 who resigned at the end of this shareholders’ meeting, and Jean-Hervé Lorenzi, member of the Supervisory Board since November 2004, whose mandate expired.
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
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
GTR Asia Trade & Treasury Week 2016, Singapore. 5 -7 September 2016.
This year the award-winning conference series spreads its wings, featuring as GTR AsiaTrade & Treasury Week 2016. Centred around the annual conference, renamed the GTR Asia Trade & Treasury Conference, GTR Asia Trade & Treasury Week will also incorporate the GTR Asia Leaders in Trade Awards, GTR Training seminars and roundtables, plus various networking events and industry field trips. With this in mind, 2016’s event looks set to be the biggest and busiest yet!
Building on its world-renowned reputation for attracting top-level trade and treasury financiers and business heads from across the globe, 2016’s expanded focus will place greater emphasis on the issues facing treasurers and the corporate treasury function, as well as highlighting exciting new developments in the fintech space and their potential impact on trade, including initiatives such as blockchain, while still covering the whole spectrum of trade, commodity and export finance that has made this event so popular in previous years. With this year’s broader scope, attendance figures are set to eclipse the 800 plus delegates of 2015, making this an essential place to be for anyone involved in international trade and treasury. 5% discount for Credit Insurance News Readers with CIN15- Click here.
West Coast Trade & Working Capital Conference 2016, San Jose, California. 5 October, 2016.
GTR will return to San Jose in October for its West Coast Trade & Working Capital Conference 2016, building on its reputation as a key networking forum for leading trade finance specialists from across the United States. Experts from various trade finance sectors will gather once again to discuss how global markets have impacted trade for both corporates and banks, an update on current capital needs and availability, and how the forthcoming elections are impacting exports and domestic trade. 2016’s conference will build on GTR’s respected format of networking sessions, providing delegates with an ideal platform for establishing new relationships with those keen to do business within the region. 5% discount for Credit Insurance News Readers with CIN15- Click here.
GTR Africa Trade & Infrastructure Finance Conference 2016, London, England. 5 -6 October 2016.
London will once again play host to GTR Africa Trade & Infrastructure Finance Conference on October 5-6 2016, bringing together high-level participants from across the trade finance community for topical discussion and unrivalled coverage of the African trade, export and commodity finance markets. The event will offer timely updates through analytical conversations and insightful case-studies with the aim to develop strategies for growth across different parts of the region. Dedicated networking sessions will be held through-out the two days allowing delegates the chance to become re-acquainted with old contacts and foster new working relationships with those keen to do business across Africa and beyond. 5% discount for Credit Insurance News Readers with CIN15- click here.
Malaysia Trade & Export Finance Conference 2016, Kuala Lumpur. 19 October 2016.
Returning to Kuala Lumpur for the 5th instalment, GTR’s Malaysia Trade & Export Finance Conference will once again provide a key discussion forum for the region’s trade experts. Decision makers within the market will convene to hear timely updates on topical issues such as government initiatives to increase international trade & investment, the primary business challenges facing the commodity sector and the knock-on effect of the Chinese economic slowdown on Malaysian growth. Dedicated networking sessions positioned throughout the day will give delegates the opportunity to become acquainted with those looking to establish and grow their trade connections within the region. 5% discount for Credit Insurance News Readers with CIN15- click here.
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: Tokio Marine HCC
Tokio Marine HCC International Insurance Company PLC (HCCI) is a subsidiary of HCC Insurance Holdings, Inc., based in Houston, Texas, with group offices across the United States, United Kingdom, Spain, Ireland and Germany. 
Acquired by Tokio Marine in 2015, HCCI now benefits from the global foot-print that comes from a Global Top Ten Insurer – a presence in 486 cities and c. $173bn net assets. Following the acquisition, HCC International is trading as Tokio Marine HCC – International Group. 
A UK domiciled specialty insurer with a high ‘AA-’ (Very Strong) rating with Standard & Poor’s, HCCI has successfully developed a book of niche products ranging from Professional Indemnity, Liability, Energy, Credit & Surety through to Film Production and Event Cancellation. 
Tokio Marine HCC’s Credit Division operates from offices in Leicester and London and provides the full suite of insurance structures to a wide range of industries covering domestic, export and political risks, with specific expertise in construction, factoring and finance, paper and publishing, food and drink, retail, advertising and media, metals and engineering. 
Tokio Marine HCC’s offering is focused on excellent customer service and clear product wordings delivered through the specialist broker network, with our service offering unrivalled in many key areas:- 
  • Commercial underwriting – every client benefits from a team of 3 commercial specialists who will ensure the policy documentation is produced quickly and accurately, hold inception meetings, undertake full system and reporting training, and be available at all times for ongoing queries and support. This support is available to all clients regardless of size and ensures the adoption of a HCCI credit policy is as seamless as possible, for both client and broker. We are confident it also contributes greatly to the excellent client retention rates experienced. 
  • Risk underwriting – bolstered in 2015 with the establishment of a specialist risk underwriting team, Tokio Marine HCC now has a team of 6 industry specialists supported by a further 5 risk underwriters that ensure unrivalled limit response times and monitoring fully up-to-date for all, with bespoke industry-specific dialogue and meetings that work in conjunction with key clients to ensure knowledge of key risk names is always current. 
  • Claims – the Tokio Marine HCC credit claims service is unrivalled, with the vast majority of all claims paid with cleared funds within 3 days of receipt of notification. Commerciality has been proven over time, with only 7 claims rejected in 2015 in total! Qualified Quantity Surveyors are in-house to assist where necessary, and our service works around clients’ existing contracts and collection procedures to ensure the process is as smooth as possible. 
This overall commitment to provide unrivalled service levels, allied to a long-term and stable underwriting appetite, form the basis of the Tokio Marine HCC offering. 
Damien Dawson, Caroline Davies, Leigh Carnie, Andy Aldridge and Ray Massey and Jane Hull are all very happy to expand and detail how that could be tailored to individual needs as appropriate.

Divisional Executive Management
Mr Martyn Ward, Head of Credit and Surety
Mrs Jane Hull, Underwriting Director - Credit
Mr Ray Massey, Underwriting Director - Credit

The Grange
United Kingdom
Phone +44 1664 424 896
Copyright © 2016 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 for further information.






Terms and Conditions                         Privacy and Cookie Policy                    © 2016 Credit Insurance News