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Credit Insurance News
Trade Credit Insurance – You don’t need it . . . Until you do! The Export-Import Bank of the US has published a blog which considers why, when about half of European exporters routinely use trade credit insurance to cover transactions, only 10% of US exporters do. "US exporters have traditionally opted for cash-in-advance or costly letters of credit when selling to buyers in high or intermediate risk markets or on larger contract sales." According to the blog, one of the primary reasons for this is the view held by many exporters shipping primarily to Canada, Mexico, and Europe that the up-front costs of credit insurance are greater than the risk of non-payment. Other concerns include lack of familiarity with trade credit finance instruments, a perception of high costs and misinterpretation of coverage. In each case, the blog provides a counter-argument to show how credit insurance can provide vital front-end risk management and credit enhancement for US companies. To read the blog go to http://grow.exim.gov/blog/5-reasons-us-exporters-underutilize-trade-credit-insurance.
What US companies need to know about trade credit insurance. Global Trade Magazine
has published an article, 'What you need to know about trade credit insurance', which highlights the increased security that credit insurance can give to US exporters. According to Steven J. Boyne, co-chair of the Insurance Practice Group at the Gunster law firm in Jacksonville, Florida, some of his clients have collected 65 cents on the dollar on their late receivables through their trade credit insurance policy. “Frankly, getting 65 cents on the dollar from a country like Venezuela is pretty good.” The article also provides a crib sheet to help exporters calculate whether they need trade credit insurance, what type of policy to buy and how to keep their costs in line with their budget. The article concludes: "Given all of the turbulence going on around the globe these days, safety is something worth considering if you can find a policy at the right price." To read Global Trade Magazine's article go to http://www.globaltrademag.com/insurance/need-know-trade-credit-insurance.
Insolvencies across advanced markets predicted to be flat in 2016 and 2017. According to Atradius' latest insolvency forecast model, the overall outlook for insolvencies has worsened through 2016 in line with downward revisions to GDP forecasts, with no real improvements expected in 2017. In the wake of the Brexit referendum, insolvencies in the UK are projected to rise by 2% in 2016 and by 3% in 2017, with Brexit fallout likely to extend to other European countries as well - especially those with high exposure to the UK (Ireland, The Netherlands, Sweden, Finland and Denmark are noted). The US is also projected to see a 3% rise in insolvencies in 2016, which is a disruption of the downward trend visible since 2011. However, the overall outlook for business bankruptcies is the worst in Australia where an 8% and 5% increase in business failures is predicted in 2016 and 2017 respectively. To read Atradius' news release go to https://atradius.co.uk/reports/insolvency-forecasts-august-2016.html.
The most important way to prevent fraud is probably networking. GTR (Global Trade Review) has published an article, 'Fraud: a new phenomenon?' which reports that trade credit insurance members of the International Credit Insurance & Surety Association (ICISA) noted a rise in fraud cases over 2015. While, as ICISA's executive director, Robert Nijhout advises, trade credit insurers have not been very successful in countering fraud with traditional instruments, he advises that several companies have now implemented changes in their underwriting practices to improve their fraud detection ability. Also, fraud by the policyholder can be detected more easily and can largely be avoided by intensifying due diligence of recently established companies as well as by closer examination of the history of the relationship between the policyholder and the buyer. However, Mr. Nijhout stresses that the most important way to prevent fraud is probably through networking. "By being in the marketplace, knowing the players and understanding the trade, underwriters become partners with a deeper understanding of when things become suspicious." To read GTR's article go to http://www.gtreview.com/news/global/fraud-a-new-phenomenon/.
Unpaid/unsecured credit losses for H1 2016 indicate an enormous growth potential for the UK trade credit insurance industry. Half yearly statistics from InfolinkGazette have revealed total unpaid/unsecured credit losses of £1.8 billion for the first half of the year. 73,800 ordinary unpaid trade creditors (excluding HMRC) lost an average of £24,500, from just under 4,200 insolvencies, with an average asset shortfall of approx. £490,000 in each Insolvency. Commenting on the analysis, Greg Connell, Managing Director of InfolinkGazette, said: "these statistics demonstrate enormous growth potential for the UK Trade Credit Insurance industry." Greg added: "If you compare the InfolinkGazette total unpaid creditors losses with figures from the Association of British Insurers (ABI), showing the equivalent of £3 million a week, £13,600 per claim, paid to 220 unsecured creditor claimants, then the ABI figures are indicating that less than 10% of unpaid creditors are covered by a Trade Credit Insurance policy." To read InfolinkGazette's news release go to http://www.infolinkgazette.com/?pid=6.
Self-Insurance or Credit Insurance. IndustryWeek is promoting a report by Euler Hermes, 'Protecting Against Payment Risk: Self-Insurance or Credit Insurance?' which considers the hard and soft costs of self-insurance compared to credit insurance, with specific relation to US businesses. The report concludes that self-insurance may make sense if companies do not require financing to grow and generate sufficient margins to absorb unpaid invoices, but credit insurance is preferable when: businesses provide products and services to a large, diversified customer base; have large A/R concentrations with only a few large buyers; plan to expand into international markets or are looking to expand their borrowing base ("in fact, in many lending relationships, credit insurance may be required"). The report reminds readers that typically 40% of a company's assets are uninsured invoices, 1 in ten invoices are delinquent and that almost 1 in 10 US public companies fails each year. To download a copy of the report go to http://www.industryweek.com/site-files/industryweek.com/files/uploads/2016/06/20/EH-CIvsSI-WhitePaper-web.pdf.
Positive outlook for the global chemicals sector. Atradius' latest series of reports on the global chemical sector has found that overall the sector is performing reasonably well with generally robust business financials, good payment performance, low insolvency rates and a fair, good or even excellent for almost all of the 34 countries analysed. However, Atradius also warns that chemicals is a cyclical business, which is highly dependent on changes in the global economy and reliant on basic commodity costs - especially oil and gas - as well as the health of other manufacturing industries, mainly construction, automotive and electronics. As such, it is vulnerable to potential risks and quickly impacted by change. Atradius identifies four key developments which are shaping the current environment:
China’s economic slowdown and reduced demand from other primary emerging markets; oil prices, which have remained at low levels far longer than expected; the strong US dollar; an industry-wide uptick in acquisitions.
Country specific Market Monitor reports are available for: France, Germany, India, US, Belgium, Sweden, Italy, The Netherlands, Saudi Arabia, Turkey, and Mexico. To read the reports go to https://atradius.co.uk/reports/.
Country specific Market Monitor reports are available for: France, Germany, India, US, Belgium, Sweden, Italy, The Netherlands, Saudi Arabia, Turkey, and Mexico. To read the reports go to https://atradius.co.uk/reports/.
A condensed view of country risk assessments published by Atradius, Coface, Credimundi and Euler Hermes. AU Group has released its latest AU 'G Grade' for quarter 3 2016 (pre-Brexit, 1 April - 30 June) to provide an at-a-glance picture of major trends and the levels of risk for 140 countries. The 'G Grade' is based on the individual assessment of a country by each of the four main credit insurers, Atradius, Coface, Credimundi and Euler Hermes, but condensed and presented as a single score. Also, the report provides seven key indicators provided by the IMF Statistics Department.
In this report, key changes to Country Risk in the second quarter mainly focus on Africa and Europe. An improving situation in Ivory Coast, Romania and Italy and a deteriorating situation in Mozambique are especially noted. To obtain a copy of the free report go to http://www.au-group.com/how-to-monitor-country-risks.
IAG and The Bond and Credit Co launch new trade credit insurance offering.
IAG, in partnership with The Bond and Credit Co, has announced that it has launched a new trade credit insurance offering into the Australian market. Underwritten by CGU Insurance and sold through broker partners, the new offering spans whole of turnover, multi-buyer, and single risk cover. The Bond and Credit Co-Executive Director, Toby Guy, commented that he was delighted to announce the launch of trade credit insurance.
“We have been working extremely hard over the last year to put the systems in place and also developing our products so we can provide exceptional underwriting services to our customer,” Mr. Guy said.
“This combined with the strength of CGU makes our trade credit offering a real alternative to the existing market.” For more information on The Bond & Credit Co visit: http://tbcco.com.au/tradecredit.
The Olympic Games will hinder not help the Brazilian economy. According to research by Euler Hermes, while the Olympic Games will generate minor short-term growth and employment in Brazil, the net impact of the Games will increase regional business bankruptcies and create inflationary pressures until 2020. Euler Hermes predicts increased investment projects and tourism linked to the Olympics will add only 0.05% (ppt) in real growth to Brazil’s GDP, which is expected to decline by 3.5% in 2016. Also, Euler Hermes warns that the surge of new Brazilian companies - especially micro and small enterprises - will generate a “crowding out effect” between newcomers and fragile existing companies unfit to benefit from the Games. Overall, hosting the Olympics will inflate Rio de Janeiro’s insolvencies in 2016 by 5% and those of micro and small enterprises by 12%. To read Euler Hermes' news release with a link to Euler Hermes’ infographic, Rio 2016: A False Start for Brazil, go to http://www.eulerhermes.com/mediacenter/news/Pages/press-release-Brazil-Olympics-010816.aspx.
Credendo Group issued 37 Country risk downgrades and just 8 upgrades in 2015. Credendo Group has stressed the extent to which 2015 proved to be another challenging year for world trade, advising that over the course of the year it issued 37 country risk downgrades for short-term risks and just 8 upgrades. Emerging markets were the biggest sufferers. However, Credendo stresses that in spite of the political risks, there are still considerable opportunities for exporters in Asia and Africa. Asia, for example, is expected to achieve 6% growth in 2016 thanks to the performance of countries such as Vietnam, Myanmar, Cambodia, Laos and the Philippines, while in Africa oil-importing nations, such as Tanzania, Kenya, and Senegal, have benefited from low oil prices. To read Credendo's news release, which includes Credendo Group's latest results, go to http://www.credendogroup.com/en/who-is-credendo-group/#Annual report.
Days Sales Outstanding predicted to reach 92 days in China. Euler Hermes has published a new analysis, Worldwide DSO: Paying the penalty for low growth, which forecasts that although global Days Sales Outstanding (DSO) will remain stable at around 64 days in 2016, 1 in 4 companies still pay after 90 days on average. Companies operating in the Electronics (89 days), Machinery (87 days) & equipment (81 days) sectors waited the longest period to get paid, while sectors closer to the consumer – such as Retail, Food, Non-business services, and Transportation – tend to over-perform with a DSO below 50 days. Results by country indicate that DSO is on the rise again in China where it is forecast to reach 92 days in 2016 - the highest level worldwide. Conversely companies are speeding up payment terms in Western Europe, where DSO currently is predicted to expected to decrease slightly from 60 to 59 days in 2016. To read Euler Hermes' news release go to http://www.eulerhermes.com/economic-research/blog/dso-one-in-four-companies-pay-after-90-days.aspx?post=69.
The launch of Acumen Credit Insurance Brokers Ltd. The John Reynolds Group Ltd and UK Credit have announced that they will officially merge on 1 August to form Acumen Credit Insurance Brokers Ltd. Acumen will become one of the largest independent specialist credit insurance brokers in Europe with
over 50 dedicated staff and access to 14 Henderson Group offices. A new brand and website will be launched on 1 September, with full details in the next issue of Credit Insurance News Digest on 6 September. To read John Reynolds Group's news release go to http://reynoldsinsure.co.uk/blog/article/reynolds-become-acumen-credit-insurance-brokers.
A mixed outlook for the major economies of the Middle East and North Africa. Atradius has published a new in-depth report on the Middle East and North Africa which analyses political and economic risks within the region’s major economies as well as assessing the performance outlook for its industries. Highlights of the report reveal a mixed picture: Growth in Jordan and Tunisia may rebound in 2016 helped by low oil prices, but growth will remain modest at 1.1% in Kuwait and will slow in both Morocco and Saudi Arabia. In addition, Atradius warns that Algeria’s economy is too dependent on the oil sector and that commodity price volatility, especially steel metals and food, has negatively impacted traders and distributors who are facing liquidity/cash flow issues. Click here to read Atradius' report.
Coface announces 'Fit to Win' strategic plan. Coface has announced a new plan, Fit to Win, with the aim of transforming into the "most agile global trade credit partner in the industry." Coface advises, that Fit to Win is built around three key strategic priorities: the reinforcement of risk management capabilities and information quality in emerging markets; the improvement of operational efficiency and client service; the implementation of differentiated profitable growth strategies, adapted to specific market/sector/customer profiles. Coface notes that its plan, which will be presented in full on 22 September 2016, is coherent with a global economic environment that has significantly changed in the aftermath of the 2008 crisis. To read Coface's news release go to http://www.coface.com/News-Publications/News/H1-2016-results-in-line-with-July-4th-announcement.
Credendo warns that Brazil's "measly forecast'" is subject to significant downside risk. Credendo Group's latest Country Risk Assessment reports that following the virtual stagnation of economic activity in Brazil in 2014, the situation has become much worse rather than better. Although real GDP is set to contract by 3.3% in 2016 and to grow by only 0.5% next year, Credendo warns that "even this measly forecast is subject to significant downside risk." Yet while commercial and solvency risk have clearly risen, the still-huge buffer of international reserves implies that liquidity risk has not and, as such, Credendo Group's classification for ST political risk has remained stable in category 2 (fairly low risk on a scale of 1-7.), while its classification for MLT political risk has been downgraded to category 5. To read Credendo's Assessment go to https://www.flexmail.eu/i-11499c99120f12ed034f864b05272c949bcd0e2adc176e2c3648f8595035576c.
US-based Everest Specialty Underwriters launches a new credit and political division. GTR (Global Trade Review) has published an article, 'Everest launches credit and PRI line', which reports that US-based Everest Specialty Underwriters has started underwriting credit and political risk in a new division headed by Jim Thomas (see 'New Appointments' below). The team currently consists of three underwriters located in Washington, New York, and Houston, but is hiring additional underwriters in the US, with further plans to employ underwriting teams in London this year and Singapore in 2017. To read GTR's article go to
http://www.gtreview.com/news/on-the-move/everest-launches-credit-and-pri-line/.
And Finally . . .
The Insurance Act 2015 will come into force in the UK on 12 August 2016. The new Act is considered one of the most significant changes to UK commercial insurance law for over a hundred years and is designed to update the statutory framework in line with best practice in the modern UK insurance market and ensure a better balance of interests between policyholders and insurers. Changes may affect anyone involved in the insurance market in any capacity - whether as an insurer, broker or insured - and will apply to all contracts of insurance (and any variations of existing contracts) entered into from 12 August. As such, all UK credit insurers will have made appropriate amendments to policy wordings and proposal forms. To see the Act go to http://www.legislation.gov.uk/ukpga/2015/4/contents/enacted.
Contains public sector information licensed under the Open Government Licence v3.0.
Contains public sector information licensed under the Open Government Licence v3.0.
Atradius furthers its commitment to developing future talent. Atradius has announced that as part of its commitment to bridging the gap between education and industry and developing future talent, its group information security manager, Ceri Charlton, was recently invited to contribute to a panel on student courses run by the University of South Wales’ School of Computing. Ceri said: “Cardiff is the home of Atradius’ UK headquarters, so we have a real interest in investing in the future talent pool, helping develop their skills to address the region’s skills gaps. As a major Welsh employer, we want to provide the best service from the best people so it’s imperative that we therefore play our part in nurturing the next generation.”
Broker Training. Following the success of its Broker Training days in 2015, Tokio Marine HCC has announced that a further training day will take place on 14 September 2016 for anyone new to credit insurance or more experienced professionals seeking a refresher. To register for a place, please e-mail Marion Clifford (mclifford@tmhcc.com). Venue to be confirmed. Please note places are limited!
Business Information
The potential economic impact of Brexit for London, the UK, and Europe. PwC has advised that following its vote to leave the EU, the UK economy is expected to face challenges in the short term, with high levels of uncertainty leading to lower GDP growth. In light of this, PwC has revised down its GDP growth projection for the UK to 1.6% and 0.6% per annum in 2016 and 2017 respectively (down from 1.9% and 2.3%), and advised that although quarter-on-quarter growth could fall to around zero in Q4 2016 and Q1 2017 the UK should narrowly avoid a recession. PwC’s analysis has also identified the 10 EU countries that export the most to the UK (relative to the size of their economies), and consequently need to prepare for different trade arrangements in the future. Ireland (19.9%) and Cyprus (9.5%) sit at the top of this list. Of the larger European economies Germany exports the most to the UK relative to the size of its economy (3.7%), while France (2.5%) and Italy (1.7%) don’t rank within the top 10.
To read PwC's news release with a link to this month’s Global Economy Watch go to http://pwc.blogs.com/press_room/2016/07/the-potential-economic-impact-of-brexit-for-london-the-uk-and-europe.html.
British businesses are in a strong position to face Brexit challenges but expect at least six months of turmoil ahead. New research from Begbies Traynor has found that UK businesses across every sector of the economy were showing positive signs of stability in the run-up to the EU Referendum. However, after the severe market turmoil that immediately followed the Brexit decision, experts warn that it could be at least another six months before we see a ‘new normal’ in the UK economy. The research reveals that levels of ‘Significant’ distress fell by 4% during Q2 2016 to 263,517 companies - 93% of which were SMEs. The sector most exposed to economic volatility remains UK construction and real estate, in which 49,186 firms are classified as experiencing ‘Significant’ financial distress. To read Begbies Traynor's news release go to http://www.begbies-traynorgroup.com/news/business-health-statistics/research-shows-british-businesses-are-in-a-strong-position-to-face-brexit-challengesbut-expect-at-least-six-months-of-turmoil-ahead.
IMF cuts global growth forecasts following Brexit. The International Monetary Fund (IMF) has announced that it has cut its forecast for global economic growth this year and next as the unexpected UK vote to leave the EU creates a wave of uncertainty amid already-fragile business and consumer confidence. The IMF now predicts that the UK economy will expand 1.7 % this year - 0.2% less than forecast in April, before slowing to 1.3% next year - down 0.9% from the April estimate and the biggest reduction among advanced economies. For the euro area, the IMF raised its forecast by 0.1% this year, to 1.6%, but lowered it (by 0.2%) to 1.4% in 2017. Global growth is now projected to reduce by 0.1% in both 2016 and 2017 to 3.1% and 3.4% respectively. Had it not been for Brexit, the IMF advises that it was prepared to leave its outlook for this year broadly unchanged. To read the IMF's news release go to http://www.imf.org.
The UK economy post-Brexit: flying through the eye of the storm. D&B has recently published a blog which stresses that although global markets have stabilised and risk assets have recovered relatively quickly from their post-Brexit sell-off, the vote to leave the EU will have a long-term impact on the trajectory of the UK economy. As such, D&B advises that the UK economy is now passing "through the eye of the storm", but will enter a technical recession at some point between the second half of this year and the first half of 2017. While D&B currently predicts full-year growth forecasts for 2016 and 2017 of 1.3% and 0.4% respectively, it stresses that ongoing lack of clarity will continue to hamper business activity and could trigger further periods of Brexit-related market volatility. To read D&B's blog go to http://www.dnb.co.uk/blog/the-uk-economy-post-brexit.
UK creditors face a £8 million insolvency fees hike.
R3 has warned that new and increased government insolvency fees, introduced in the UK on 21 July, will hurt creditors of insolvent companies and undermine the UK insolvency regime. Among other new fees, the government is introducing a charge of £6,000 in every compulsory liquidation or bankruptcy, even when the case is handled by a private sector insolvency practitioner rather than the government’s Official Receiver. A further fee of 15% of all realisations will apply in all Official Receiver-run cases. The government estimates the new fees will cost creditors almost £8 million per year. Andrew Tate, R3 president, commented: “The government is putting creditors at risk of seeing fewer returns, and is asking them to pay more for the pleasure. The additional £6,000 charge for every case, even on the simplest case where the government does nothing, is essentially a tax on creditors who have already lost money.” To read R3's news release go to https://www.r3.org.uk/index.cfm?page=1114&element=27327&refpage=1008.
Amount of invoice finance received by UK small businesses up over 60% in a year. According to Asset Based Finance Association (ABFA), the amount of finance advanced to the UK’s smallest businesses through invoice finance jumped by over 60% in the last year, reaching £711 million up from £435 million the previous year - the highest year on year increase since the recession. The total amount advanced to UK and Irish businesses through asset based finance at the close of 2015 was £19.3 billion, up from £18.9 billion the previous year. Around 80% of asset based finance is invoice finance, while the other 20% represents the fast-growing area of asset based lending. To read the ABFA's news release go to http://www.abfa.org.uk/news/122/Amount-of-invoice-finance-received-by-UK-small-businesses-up-over-60pc-in-a-year.
UK High street sales see summer fall. According to the CBI's latest monthly Distributive Trades Survey, UK retail sales fell at the fastest pace in over four years in July, with weaker consumer confidence a likely factor in the immediate period following the EU referendum. Within retail, sales by grocers, and furniture and carpets stores were the primary drivers of the drop in overall volumes. But some sectors bucked the trend, with non-specialised department stores and retailers of footwear and leather goods reporting higher volumes. In addition, orders placed on suppliers dropped at the quickest pace since March 2009 and are expected to fall further in August. To read the CBI's news release go to http://news.cbi.org.uk/news/high-street-sales-see-summer-fall/.
A cloud of uncertainty hangs over manufacturing post-Brexit. According to the latest quarterly CBI Industrial Trends Survey, over the last quarter manufacturing new orders growth expectations fell to a four-year low and concerns over economic and political conditions abroad as a constraint on exports orders are at their highest level since 1983. However, competitiveness in international markets has improved at the strongest pace in over six years, with a further boost expected next quarter. As a result, export orders are set to rise at an above-average pace over the next quarter. Rain Newton-Smith, CBI Chief Economist, said: “Manufacturers picked up the pace over the second quarter, with output growing solidly. We’re also seeing encouraging signs of a boost to export competitiveness from a weaker sterling. But it’s clear that a cloud of uncertainty is hovering over industry, post-Brexit" To read the CBI's news release go to http://news.cbi.org.uk/news/manufacturing-prospects-muted-after-brexit-cbi/.
1.4 million UK SMEs forced to write-off debt each year. According to Bibby Financial Services (BFS) latest SME Confidence Tracker analysis for Q2, more than a quarter of SMEs in the UK, suffer from bad debt and 27% have written-off money in the past year. Across the business population, findings equate to more than 1.4 million SMEs suffering from bad debt over the past 12 months. The average amount scrapped by each business due to customers not paying invoices was £11,829. SMEs in the transport (30%) and construction (29%) sectors were the worst hit with construction businesses writing off almost £15,000 on average over the past year. To read BFS' news release please click here.
UK Manufacturers’ business confidence has dropped across the board following the vote for Brexit. A new report from EEF and BDO shows that manufacturers’ business confidence has taken an across the board beating following last month’s vote for Brexit. Every region in England and Wales has suffered a decline in optimism with the biggest falls seen by manufacturers in the South East & London and Wales, and the smallest by firms in the North East. Ms. Lee Hopley, Chief Economist at EEF, commented: “The Brexit vote has put the manufacturing sector’s recovery in jeopardy. The growth path is now uncertain in all regions and, while firms in the South East & London and Wales look better placed to ride the storm, companies in the Eastern, North East and the South West counties appear more downbeat about their ability to cope." To read BDO's news release go to http://www.bdo.co.uk/press/manufacturers-confidence-drops-in-every-region.
Brexit blow to business confidence. According to Deloitte’s latest CFO Survey, confidence among CFOs of the UK’s largest companies has taken a sharp fall following the referendum on the UK’s membership of the EU.
The survey shows significant downturns in corporate optimism and risk appetite, with 95% of CFOs saying that the level of uncertainty facing their business is above normal, high or very high, up from 83% in Q1 and returning to levels last seen in the Euro crisis in 2012. In addition, 73% of CFOs said that they are less optimistic about the financial prospects for their company, up from 32% in Q1, the highest level registered since Deloitte’s survey began in 2007 and higher than during the fallout from the Lehman collapse in 2008.
Just 8% of CFOs say now is a good time to take risk onto their balance sheet, down from 25% in the last quarter and its lowest level since Q1 2009. To read Deloitte's news release go to http://www2.deloitte.com/uk/en/pages/press-releases/articles/deloitte-cfo-survey-brexit-blow-to-business-confidence.html.
Career Opportunities
Business Development Executive, Trade Credit, Midlands or London. Tokio Marine HCC.
We have a vacancy for a Business Development Executive within our well-established Trade Credit New Business team, to be based in either London or the Midlands.
You will help us to achieve our new business targets through closing good quality business with our valued broker partners, for which you will require:
We have a vacancy for a Business Development Executive within our well-established Trade Credit New Business team, to be based in either London or the Midlands.
You will help us to achieve our new business targets through closing good quality business with our valued broker partners, for which you will require:
- An established track record in the industry in either broking or (ideally) underwriting
- A good knowledge of the specialist broker network
- The ability to identify and close good quality new business
- The ability to manage and develop strong relationships with brokers
good presentation and interpersonal skills.
Regional Chief Financial and Administration Officer, Owning Mills, Maryland. US.
This is an exciting opportunity for a dynamic CFO to help lead an ambitious five year regional growth from $374 million turnover to $593 million turnover by 2020. You’ll work for the market leader in credit insurance and, long term; have international career development opportunities not only within Euler Hermes but also within our parent company, Allianz, the world’s largest insurance company. Your scope will also include operations.
Main Purpose: Coordinates financial functions across the Americas Region (US, Canada & Brazil) including accounting, planning and controlling, treasury, group and statutory reporting (US and Canada), tax and compliance. Also responsible for optimization of Operations (Policy Administration, Office Administration (facilities, cars, etc.), Organization (projects), and act as the point of contact for regional IT business needs with Group IT. Also in charge of risk management of the company as Chief Risk Officer.
Principal Accountabilities: Manage local financial and operation teams and supervise the regional finance team; Management of core financial functions: accounting, controlling, treasury, risk controlling, group and statutory reporting, tax and compliance; Ensure the compliance with EH Group Operating Model for the functions managed in the region; Build up technical competence centers in accounting and controlling areas; Ensure local compliance with statutory and group policies and requirements, especially for Solvency II as Chief Risk Officer; Support profitable growth Support local and Group projects; Optimizing processes (OPEX) and finding efficient, cost-effective solutions in line with global policies with a focus on procurement and facility management; Act as IT business partner for the Region; In charge of the business continuity plan.
Qualifications: Undergraduate degree in Finance, preferably Masters Degree in Business Admin / Finance / Economics; 10 years of senior level finance experience, with a good knowledge of the IFRS gaap and of Solvency II; Insurance industry experience is a must; Ability to work in matrix environment across disciplines; Results orientation: execution and consequence management; Conflict management: arbitrage, independence; Represent company with local regulatory and finance authorities; Broad, strategic thinker with ability to think beyond cost cutting; Practical, team player; Market knowledge: Proven, in-depth know-how in one core finance area (accounting, actuarial, investment, etc.); Business expertise: Know-how of finance best practices; Significant Insurance experience; Strong analytical thinker.
To apply go to https://jobs.allianz.com/sap/bc/bsp/sap/zhcmx_erc_ui_ex/desktop.html?company=43&hideHeader=true#/SEARCH/RESULTS. (Please mention Credit Insurance News Digest).
This is an exciting opportunity for a dynamic CFO to help lead an ambitious five year regional growth from $374 million turnover to $593 million turnover by 2020. You’ll work for the market leader in credit insurance and, long term; have international career development opportunities not only within Euler Hermes but also within our parent company, Allianz, the world’s largest insurance company. Your scope will also include operations.
Main Purpose: Coordinates financial functions across the Americas Region (US, Canada & Brazil) including accounting, planning and controlling, treasury, group and statutory reporting (US and Canada), tax and compliance. Also responsible for optimization of Operations (Policy Administration, Office Administration (facilities, cars, etc.), Organization (projects), and act as the point of contact for regional IT business needs with Group IT. Also in charge of risk management of the company as Chief Risk Officer.
Principal Accountabilities: Manage local financial and operation teams and supervise the regional finance team; Management of core financial functions: accounting, controlling, treasury, risk controlling, group and statutory reporting, tax and compliance; Ensure the compliance with EH Group Operating Model for the functions managed in the region; Build up technical competence centers in accounting and controlling areas; Ensure local compliance with statutory and group policies and requirements, especially for Solvency II as Chief Risk Officer; Support profitable growth Support local and Group projects; Optimizing processes (OPEX) and finding efficient, cost-effective solutions in line with global policies with a focus on procurement and facility management; Act as IT business partner for the Region; In charge of the business continuity plan.
Qualifications: Undergraduate degree in Finance, preferably Masters Degree in Business Admin / Finance / Economics; 10 years of senior level finance experience, with a good knowledge of the IFRS gaap and of Solvency II; Insurance industry experience is a must; Ability to work in matrix environment across disciplines; Results orientation: execution and consequence management; Conflict management: arbitrage, independence; Represent company with local regulatory and finance authorities; Broad, strategic thinker with ability to think beyond cost cutting; Practical, team player; Market knowledge: Proven, in-depth know-how in one core finance area (accounting, actuarial, investment, etc.); Business expertise: Know-how of finance best practices; Significant Insurance experience; Strong analytical thinker.
To apply go to https://jobs.allianz.com/sap/bc/bsp/sap/zhcmx_erc_ui_ex/desktop.html?company=43&hideHeader=true#/SEARCH/RESULTS. (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.
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 helen.spriggs@reedglobal.com. (Please mention Credit Insurance News Digest).
New Appointments
Tokio Marine HCC has announced that Alan Binstead has been appointed as Senior Commercial Underwriter - Customer Relations, covering the South East region. Mr. Binstead has extensive experience in the credit insurance industry as both underwriter and broker. He joins from EFCIS.
STA International has announced the appointment of Mark O’Neil as Managing Director, with current MD Colin Thomas moving to the role of Chairman. Mr. O'Neill has previously established a number of successful businesses and provided strategy and mentoring guidance to others, as well as sitting on the Institute of Directors committee for Sussex and The South East Local Enterprise Partnership-European Structural and Investment Funds Growth Programme.
Chubb has announced that its new office in Chicago will be headed by Peter Hunter, who will serve as Vice President, Trade Credit, Chicago. Mr. Hunter joins Chubb from AIG where he held the position of Regional Underwriting Manager, Trade Credit, Chicago.
Yoon Koh also joins Chubb's new Chicago Office as Senior Underwriter, Trade Credit, Chicago. Ms. Koh also joins Chubb from AIG, where she worked most recently as Senior Underwriter, Trade Credit, Chicago.
In addition, Brennan Elio has been appointed as Assistant Vice President, Trade Credit, at Chubb's New York office. Mr. Elio joins Chubb from AIG where he held the position of Regional Underwriting Manager, Trade Credit, New York.
Yoon Koh also joins Chubb's new Chicago Office as Senior Underwriter, Trade Credit, Chicago. Ms. Koh also joins Chubb from AIG, where she worked most recently as Senior Underwriter, Trade Credit, Chicago.
In addition, Brennan Elio has been appointed as Assistant Vice President, Trade Credit, at Chubb's New York office. Mr. Elio joins Chubb from AIG where he held the position of Regional Underwriting Manager, Trade Credit, New York.
XL Catlin has announced that it has appointed Richard Abizaid as Head of the Americas and Regional Product Leader, for Political Risk and Trade Credit (PRTC). Based in Washington DC, Mr. Abizaid will head XL Catlin's PRTC insurance operations in the Americas, which include teams across the continent.
Everest Specialty Underwriters has announced that its new US-based credit and political risk division will be headed by Jim Thomas. Mr. Thomas joins Everest from Zurich, where he spent 15 years as head of credit and political risk. He is based in Washington DC and reports to Mike Karmilowicz, head of Everest Specialty Underwriters.
Argenta Syndicate Management, a subsidiary of Argenta Holdings, has announced that it has appointed Mark Palmer as political risks underwriter to Argenta Syndicate 2121. Mr. Palmer previously worked as head of London Market Underwriting at Atradius, where he underwrote a portfolio of short, medium and long-term credit and political risk insurance structures.
Forthcoming Events
Featured Event of the Month
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 www.creditindemnity.com and follow the white rabbit to place your reservation.
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 www.creditindemnity.com and follow the white rabbit to place your reservation.
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.
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.
Insurance Analytics Europe. 5-6 October 2016, The Grange Tower Bridge, London.
The 3rd Annual Insurance Analytics Europe Summit will bring together 200+ insurance executives from across Europe to explore both innovation in the insurance industry and uncover strategies to fully utilise the ever-increasing analytics capabilities available to insurers. Featuring over 60 speakers including AIG, Aviva, Zurich, Generali and more, there is no other European insurance event that explores both the future of the industry including cutting-edge technology and innovative trends, as well as providing practical strategies to best use analytics across the core insurance business units including underwriting, pricing, claims and marketing.
Here's what to expect in 2016:
Relevant and Targeted Insights for Different Roles & Priorities: With tracks that explore business department analytics PLUS tracks exploring new insurance tech and innovation.
Practical Tools to Wield Your Analytics Capabilities as a Competitive Advantage: Get insider knowledge on how to ensure your analytics is fulfilling its potential in underwriting, pricing, claims, fraud, marketing and more.
Unparalleled Speaker Line-Up: Bringing together the innovators, blue sky thinkers and industry leaders to provide delegates with best-practice tools and innovative strategies.
Turbocharged Networking: In the largest European gathering of insurance analytics executives, this is THE best place to meet your peers and build your network Relevant for the C-Suite, analytics, data and IT executives as well as heads of business departments, in 2015 attendees included AIG, Allianz, AXA, Zurich, Groupama, Generali, Direct Line Group, If P&C, LV=, Vitality, Admiral, 1st Central Insurance, Towergate, Universal Life and more. For more information, see http://events.insurancenexus.com/insuranceanalyticseu.
The 3rd Annual Insurance Analytics Europe Summit will bring together 200+ insurance executives from across Europe to explore both innovation in the insurance industry and uncover strategies to fully utilise the ever-increasing analytics capabilities available to insurers. Featuring over 60 speakers including AIG, Aviva, Zurich, Generali and more, there is no other European insurance event that explores both the future of the industry including cutting-edge technology and innovative trends, as well as providing practical strategies to best use analytics across the core insurance business units including underwriting, pricing, claims and marketing.
Here's what to expect in 2016:
Relevant and Targeted Insights for Different Roles & Priorities: With tracks that explore business department analytics PLUS tracks exploring new insurance tech and innovation.
Practical Tools to Wield Your Analytics Capabilities as a Competitive Advantage: Get insider knowledge on how to ensure your analytics is fulfilling its potential in underwriting, pricing, claims, fraud, marketing and more.
Unparalleled Speaker Line-Up: Bringing together the innovators, blue sky thinkers and industry leaders to provide delegates with best-practice tools and innovative strategies.
Turbocharged Networking: In the largest European gathering of insurance analytics executives, this is THE best place to meet your peers and build your network Relevant for the C-Suite, analytics, data and IT executives as well as heads of business departments, in 2015 attendees included AIG, Allianz, AXA, Zurich, Groupama, Generali, Direct Line Group, If P&C, LV=, Vitality, Admiral, 1st Central Insurance, Towergate, Universal Life and more. For more information, see http://events.insurancenexus.com/insuranceanalyticseu.
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.
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.
Commodity Trade Finance Conference, 25 October. Lugano, Switzerland.
GTR’s Commodity Trade Finance Conference 2016 returns to Lugano in October to provide unrivalled insight on the condition of the global trading market and the challenges faced, both in local markets and further afield. With Switzerland being one of the world’s leading commodity trade hubs, the event will see high level business leaders come together to explore the possibilities of strengthening links and encouraging growth within the global commodity market. Networking will form an integral part of this gathering, meaning valuable connections are guaranteed for anyone serious about doing business in the region. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
GTR’s Commodity Trade Finance Conference 2016 returns to Lugano in October to provide unrivalled insight on the condition of the global trading market and the challenges faced, both in local markets and further afield. With Switzerland being one of the world’s leading commodity trade hubs, the event will see high level business leaders come together to explore the possibilities of strengthening links and encouraging growth within the global commodity market. Networking will form an integral part of this gathering, meaning valuable connections are guaranteed for anyone serious about doing business in the region. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
Mexico Trade & Export Finance Conference 2016, 20 October. Mexico City.
GTR is delighted to return to Mexico City on October 20 for the Mexico Trade & Export Finance Conference 2016. The event will once again provide a platform for industry leaders to outline their priorities in the face of a changing domestic and global trading environment. The biggest gathering of trade, export and commodity finance specialists in Mexico will create ample networking opportunities, with dedicated sessions devoted to forging new relationships and creating new business contacts. This event should not be missed by anyone currently trading, or looking to begin trading, in Mexico. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
GTR is delighted to return to Mexico City on October 20 for the Mexico Trade & Export Finance Conference 2016. The event will once again provide a platform for industry leaders to outline their priorities in the face of a changing domestic and global trading environment. The biggest gathering of trade, export and commodity finance specialists in Mexico will create ample networking opportunities, with dedicated sessions devoted to forging new relationships and creating new business contacts. This event should not be missed by anyone currently trading, or looking to begin trading, in Mexico. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
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 www.creditindemnity.com/ and follow the white rabbit to place your reservation.
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 www.creditindemnity.com/ and follow the white rabbit to place your reservation.
Mauritius Trade Finance Conference 2016, 10 November, Port Louis, Mauritius.
Following the highly successful inaugural event which welcomed 220 delegates, GTR’s Mauritius Trade Finance Conference 2016 will return to Port Louis in November. Bringing together the local and international markets, the conference will explore the evolution of the business community in Mauritius, using its strategic location and rapid growth as key points for discussion. Topics will also focus on the role of the trade finance sector in developing the island into the primary trade and financing hub. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
Following the highly successful inaugural event which welcomed 220 delegates, GTR’s Mauritius Trade Finance Conference 2016 will return to Port Louis in November. Bringing together the local and international markets, the conference will explore the evolution of the business community in Mauritius, using its strategic location and rapid growth as key points for discussion. Topics will also focus on the role of the trade finance sector in developing the island into the primary trade and financing hub. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
Egypt Trade & Export Finance Conference 2016, 15 November. Cairo, Egypt.
Building on its long-standing presence in the Mena region, GTR will hold the Egypt Trade & Export Finance Conference 2016 in Cairo on November 15. Bringing together senior business representatives and trade finance professionals from Egypt and the wider Mena region, this gathering will provide a key platform for those looking to increase trade within the country. Featuring influential speakers from across the trade finance community, including local and international banks, financiers, leading corporates, lawyers, insurers and more, this should be a firm date in the diary for anyone looking to develop trade relationships in Egypt. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
Building on its long-standing presence in the Mena region, GTR will hold the Egypt Trade & Export Finance Conference 2016 in Cairo on November 15. Bringing together senior business representatives and trade finance professionals from Egypt and the wider Mena region, this gathering will provide a key platform for those looking to increase trade within the country. Featuring influential speakers from across the trade finance community, including local and international banks, financiers, leading corporates, lawyers, insurers and more, this should be a firm date in the diary for anyone looking to develop trade relationships in Egypt. Click here for more information and to book (5% discount for Credit Insurance News Readers with CIN15).
BCR’s Alternative & Receivables Finance Forum 2016. 16 November, London.
Now in its 3rd successful year, BCR's Alternative Finance & Receivables Forum is a unique event for established receivables financiers, insurers, fintechs and new SME lending platforms to analyse the rapid evolution of working capital finance. This Forum takes a closer look at corporates' funding requirements and how the current lending landscape is catering to them. The event is also a showcase of the latest technology and how it is enabling access to non-bank sources of funding. Register now to find out how the competitive market for working capital finance is changing in the long term. Credit Insurance News readers qualify for a 10% discount when using the code: CIN10 at the time of booking via this link: http://arf16-tickets.bcrconferences.com/.
Now in its 3rd successful year, BCR's Alternative Finance & Receivables Forum is a unique event for established receivables financiers, insurers, fintechs and new SME lending platforms to analyse the rapid evolution of working capital finance. This Forum takes a closer look at corporates' funding requirements and how the current lending landscape is catering to them. The event is also a showcase of the latest technology and how it is enabling access to non-bank sources of funding. Register now to find out how the competitive market for working capital finance is changing in the long term. Credit Insurance News readers qualify for a 10% discount when using the code: CIN10 at the time of booking via this link: http://arf16-tickets.bcrconferences.com/.
About this Issue's Sponsor: Atradius
With a presence in over 50 countries worldwide, Atradius’ reach stretches all around the globe; and the challenges, opportunities and competition of international trade is something that we talk to our customers and brokers about every day.
Atradius has access to credit information on 200 million companies worldwide and supports businesses to manage the risks associated with trading overseas. For a company selling goods or services knowledge about trading partners is vital and that is one of the ways that we as Credit Insurers can help. At Atradius we have been supporting exporters for over 90 years and our worldwide team of experts is on hand to help businesses of all sizes and in all sectors.
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All news stories on Credit Insurance News' website are included with the prior permission of the copyright holder. Reproduction or redistribution in whole or in part, in any manner, without the express prior written consent of the copyright holder, is a violation of copyright law. If you, or your organisation wish to redistribute, republish or link-to all or any part of any Credit Insurance News Digest, you must first contact the copyright holder direct or email sally.brown@creditinsurancenews.co.uk for further information.
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