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Welcome to issue 86 of Credit Insurance News Digest. This issue is kindly sponsored by QBE.
Credit Insurance News
Trade credit insurers pay out £4 million a week to UK businesses. New figures from the Association of British Insurers (ABI) reveal that the total claims paid by trade credit insurers in 2016 totaled £210 million - the equivalent of over £4 million a week. This is up just over 40% on 2015, and in terms of both value and volume (at 12,221 claims) was the highest amount recorded by the ABI since 2009. Overall, the level of trade covered by trade credit insurance in the UK has reached £314 billion - up 6% on £295 billion in 2015 and the highest amount in more than two decades. A fifth of policies last year covered businesses exporting goods or services overseas and just over three-quarters covered domestic trade. The ABI also found that the share of gross written premiums by distribution channel remained fairly constant in 2016, with 93% recorded as going through an intermediary and 7% direct. To read the ABI's news release go to
UK credit insurers "step up to the plate". InsurancePost has published an article, 'Trade credit claim rise 'no need for concern'' which stresses that latest ABI figures (see above) which show that trade credit insurers paid businesses the equivalent of £4 million in claims every week last year should not give rise for concern. Clyde & Co partner Andrew Grant, a specialist in trade credit, commented: “We knew this was coming and we’ve seen this cycle before. The trade credit market operates on a 6–7-year cycle, which last got under way in 2009. The ABI’s assertion that this is as big or even bigger than 2009 is correct, but it’s important to understand that trade credit market itself is much bigger than in 2009.” Mr. Grant also stressed that the UK is a world leader in trade credit insurance and the market "has stepped up to the plate before." To read InsurancePost's article go to
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Why exporting doesn’t have to be risky business with credit insurance. IndustryWeek has published an article which reports that as US SME participation in exporting isn’t as strong as it could be, many SMEs are missing out on significant opportunities for major growth. “A lot of middle-and-small-sized companies (in the US) they just avoid international,” commented Mark Robinson, senior vice president of global operations, UPS Capital. “Because the US market is so big, many small-and-middle-size companies wait a long time before they stick their toe in the water on the international side.” However, the benefits of exporting are evident and Robert Ginsburg, president for trade advisory firm RBG Global, recommends that SMEs protect themselves with trade credit insurance in order to foster greater confidence in exporting. He also stresses the additional competitive advantages that the product offers. To read IndustryWeek's article go to
The Trump administration could result in greater demand in the US for political risk and trade credit coverage. Clyde & Co has published an article in Lexology which comments that President Trump's current focus on boosting the US exports and the manufacturing sector is likely to have a significant effect on US businesses - including trade credit insurers. The article notes that the bad news for US businesses which source materials, labour, or both, in lower-cost foreign markets, is that policies intended to promote US domestic business could leave US exporters vulnerable to issues such as supply chain disruption and trade restrictions. However, the good news for trade credit insurers is that more US businesses trading internationally will require political risk and trade credit insurance to protect their assets and receivables abroad. To read the article on Lexology's website go to
21% of UK Survey respondents plan to increase their use of credit management techniques. Atradius' latest Payment Practices Barometer for the UK reports that 49% of the invoices of respondents in Great Britain are currently not paid by the due date - a 4% increase on 2016's figures and higher than the 41% regional average. Domestic B2B customers delayed payments most often because of liquidity constraints (42.6%), while foreign B2B customers postponed payments most often because of the complexity of the payment procedure (35.7%). The Barometer also found that a higher percentage of British respondents (21%) stated their intention to increase their usage of credit management techniques than in Western Europe (18%). In order of priority, British respondents are more likely to monitor buyers’ credit risk (25%) and increase checks on buyers’ creditworthiness (24.7%) than to use a collections agency (17.8%), increase bad debt reserves (18.3%) or use credit insurance (19%). To read Atradius' news release go to
Atradius has also published country specific Payment Practices Barometer reports for Austria, Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Sweden, Switzerland, The Netherlands and Spain. For more information go to
Global business confidence is picking up despite political risks. Global Trade has published an article which reports that Coface's latest economic update for country and sector risk shows a surprise increase in business confidence despite persistently high political risks in the US and Europe. As a result, Coface has positively adjusted its global growth forecast to +2.8% and the global trade forecast to +2.4%, compared to +1% in 2016. Countries upgraded were Czech Republic (A2), Israel (A2), and Latvia (A3), while Mozambique was downgraded to the highest risk level (E) “extreme risk,” on account of serious threats to its political stability and the payment default situation. Looking at sectors, the risk level has improved in metals in Asia and Latin America and Coface has upgraded the construction sector in Latin America and Western Europe. In contrast, the retail sector in the UK has been downgraded. To read Global Trade's article go to
World Economic growth forecast to increase 2.8% in 2017. An article in CFO Innovation reports that new research from Atradius predicts that global economic growth will increase 2.8% in 2017 (compared to 2.5% in 2016) and the volume of world trade should pick-up by 3% (1.3% in 2016). However, although global growth is buoyed by a strong US economy and an improving outlook for many emerging market economies, Atradius warns that substantial downside risks remain. For world trade, these include the threat of protectionist and anti-trade policies, while US monetary policy normalisation could hurt the economic outlook for emerging economies with large external vulnerabilities. Additional considerations include concerns that the Trump administration may not be able to achieve many of its pro-growth aims and increased political uncertainty following the Brexit decision and the outcome of the Italian constitutional referendum. To read CFO Innovations' article go to
Euler Hermes' Q1 Country Risk Ratings: Argentina, Brazil, Egypt upgrades. Euler Hermes has published its Q1 2017 country risk ratings and has announced that it has upgraded the ratings of Argentina (C4 RATING => C3), Brazil (C3 => B3) and Egypt (D4 => D3). Euler Hermes notes that growth has returned to Argentina, with GDP growth of 0.5% in Q3-Q4 2016, boosted by the solid export performance over the period (+3.2%). The outlook for 2017 is also good, with 3.2% growth predicted. The Brazilian economy is also expected to "lift its head above water" and come out of recession, with growth forecast at +0.6% in 2017. Finally, economic recovery in Egypt is expected in 2018, with growth of +1.5% which will also be more balanced than in the past. To read Euler Hermes' news release go to
To see Euler Hermes' latest Country Risk Map go to
91.4% of respondents in Western Europe experience late payments from their domestic B2B customers. Atradius' latest Payment Practices Barometer for Western Europe has reported 91.4% of respondents in Western Europe experience late payments from their domestic B2B customers and 84.2% face late payments from foreign B2B customers. This resulted in an average of 41.9% of domestic invoices and 39.4% of foreign invoices remaining unpaid past the due date. Late payments were most frequently reported in Switzerland (domestic 97%, foreign 93.9%) and least frequently in Sweden (domestic 81%, foreign 71.4%). Greece (51.6%) seems to be the country most impacted by late payments of invoices from domestic B2B customers. This is also reflected in the country’s DSO figure, which averaged 60 days, the longest in the region (Western Europe: an average of 44 days). To read Atradius' Barometer go to
Glimmers of recovery in the French construction industry. Coface's latest Panorama notes that with an average increase in corporate insolvencies of 4.2% per year, 137,520 French construction companies went bankrupt between 2008 and 2014 - effectively one-third of all French bankruptcies (415,000). However, this trend was significantly reversed in 2016 with a decline in insolvencies of 6.8%, with the greatest improvements in plumbing (-15.1%) and tiling (-16.3%). Real-estate agencies (4% of insolvencies in the industry) also benefited from this recovery (-14.8%). However, although the short-term picture shows improvement, Coface warns that recovery might be short-lived; interest rates, which have been rising since the beginning of the year, could ultimately put a damper on household spending and the power of households to purchase new property. To read Coface's news release with a link to the full report go to
The added value and benefit of trade credit insurance. Atradius has welcomed the new report by the Association of British Insurers (ABI) - see above - which demonstrates the value that trade credit insurers provided to UK businesses last year. In reaction to the report Alun Sweeney, Country Director for UK & Ireland at Atradius, also stressed that the additional value of trade credit insurance is the "insight, analysis and advice on the likelihood of non-payment so a business knows whether to trade with a customer in the first place." In addition: "Insurers can also warn of wider economic, political and financial risk as well as help identify new opportunities to trade which can be a major boost to a business’ growth strategy." To read Atradius' news release click here.
A worldwide rise in terrorism attacks in 2016. Insurance Business has published an article which reports that new research from Aon has noted that a worldwide rise in terrorism attacks in 2016 – including a 174% increase in Western countries – is making for an increasingly volatile operating environment for international business. Of the global terrorist attacks on commercial interests in 2016, oil and gas companies took a hit – with 41% aimed at them – a trend that has continued in 2017. And alongside terrorism, businesses around the globe are facing growing exposure to political violence risks. Aon also reports that 2016 marks the second year in a row that more country risk ratings were increased than decreased. To read Insurance Business' article go to
Uncertainty increases in European election year. Atradius has published a news release which describes the potential threat to European co-operation, economic reforms and access to credit that gains by populist parties in recent and forthcoming elections in The Netherlands, France, Germany and possibly Italy could have. Atradius notes that while its experts do not think that any of these populist parties will actually be elected into leadership, it does seem clear that their anti-EU stance will be heard more clearly in national parliaments. Furthermore, Atradius cautions that they are also likely to oppose economic reforms more strongly than the mainstream parties, "which is worrisome especially for Italy and France." Above all, Atradius believes that Italy appears to be the most vulnerable to rising political uncertainty, given its subpar economic performance and widespread Euroscepticism. To read Atradius' news release go to
Snakes and ladders? The global economy post-Brexit vote and President Trump’s election.
27 April at 2 pm CET.
Euler Hermes has announced that Ana Boata, its Economist for Western Europe, will be presenting a 45-minute webinar explaining and examining 'the snakes and ladders game' that the global economy is currently experiencing. The webinar will last for one hour. Click here for more information and to register for the event.
Announcement from Credit Insurance News Digest
Launching in 2017.  We are hugely excited to announce that we will be launching a new business information service and newsletter, Credit Management News and Credit Management News Digest, in mid-2017.
We're currently developing a list of subscribers for Credit Management News Digest and would be delighted to add your name. Issues will, of course, be free. Click here to sign-up or email us.
New Appointments
Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has announced that it has appointed Alexandra Paton as head of global financial risks for continental Europe. Ms. Paton worked has worked at AIG, Atradius and, most recently, Equinox Global. 

Miller has announced that it has recruited David Maule to its credit and political risks team. Mr. Maule formerly worked at Arthur J Gallagher, specialising in the German export market. 

Coface has announced the appointment of Jacqui Jooste as Coface South Africa CEO-country manager. Ms. Jooste has been an executive director and board member of Coface since August 2008 and has held the position of COO since September 2014.

Coface North America Insurance Company has announced that it has appointed Stephen Atallah as senior executive vice-president for commercial and risk underwriting. Mr. Atallah joins Coface from R3 CEV, where he was a trade finance advisor.

AU Group has announced that it has opened a new subsidiary in Dubai - AU Group Middle East. The new office is headed by Aurélien Paradis, who worked for Euler Hermes before joining AU Group in 2014.
Business Information
26% increase of ‘significant’ financial distress within key UK sectors. New research from Begbies Traynor has found that rising inflation and growing uncertainty surrounding the UK’s future trade links with Europe is beginning to result in more companies showing increased signs of stress. According to Begbies Traynor’s Red Flag Alert research for Q1 2017, levels of ‘Significant’ financial distress within key sectors in the UK supply chain have risen by 26% on average over the past year following increased cost pressures from rising inflation in both fuel and food prices. Of all the sectors covered by the research, Industrial Transportation & Logistics businesses experienced the largest increase in ‘significant’ distress, up 46% year-on-year (Q1 2017: 7,539 companies). To read Begbies Traynor's news release go to
Predicted UK growth revised upwards to 1.8% in 2017.  As a result of support from a stronger global economy, the EY ITEM Club has predicted that UK GDP growth will reach 1.8% this year (up from 1.3% in its previous forecast), 1.2% in 2018 (up from 1%) and 1.5% in 2019 (up from 1.4%). However, Peter Spencer, chief economic advisor to the EY ITEM Club, warned that political developments could still derail the improving global picture: “The UK’s trade performance and output growth in 2019 and beyond will also depend critically upon the exit terms that can be agreed with the EU 27 and other countries. Our central case is based on the assumption that UK-EU trade will be conducted under World Trade Organization rules. However, there is potential for an upside surprise if transitional arrangements can be put in place, perhaps followed by a Free Trade Agreement later.” To read EY's news release go to
Ireland is the favourite EU location for insurers after Brexit. According to a survey conducted by Intelligent Insurer, 32% of its readers believe that Ireland is the most attractive location for insurers seeking to create a unit within the EU to retain access to the common market after the Brexit vote. Among reasons presented by participants were the cultural and geographical proximity to the UK and London and the shared language. Some participants also mentioned the legal system and praised the existing regulatory framework as an advantage of the location. Germany was the second most preferred location for insurers seeking to secure access to the EU market after Brexit with 13% of votes. Belgium followed with 12% of votes. To read Intelligent Insurer's article go to
This news story was published on Intelligent Insurer on 5 April. To read more news on Intelligent Insurer, please click here.
UK High Street shop numbers grow for the sixth consecutive month. The April edition of LDC’s Dynamic Location Intelligence Bulletin has reported that UK shop numbers grew for the sixth month in a row as openings increased faster than closures once more. Numbers of stores in town centres continued their recent growth spurt by a net 218 shops opening their doors in March, whilst shopping centres and retail parks continued on their more moderate, but steady, upwards trajectory. Independent businesses also continued to grow, increasing by 385 in March, adding onto a seven month period of growth for Independents. Furthermore, vacancy rates dipped to 12% - the lowest figure recorded by the LDC since the historic high of 14.6% in 2012. To read the LDC's news release go to
UK High street sales fail to grow for the fourth month in a row. According to figures released by BDO, the UK’s high street is struggling to lift itself out of a lengthy slump. According to BDO’s High Street Sales Tracker (HSST), UK retailers have failed to grow sales for the fourth month in a row, with like-for-like sales flat (0%) in March despite warmer weather, Mother’s day and increases in footfall. In contrast, online with non-store sales rose by 28.1% - the highest monthly result since January 2015. Sophie Michael, Head of Retail and Wholesale at BDO LLP, said: “March 2017 is the fourth month in a row to see no growth on the high street despite a notable rise in footfall. The new season should have triggered high street spending, and retailers will be questioning why they have been unable to convert shoppers into buyers."  To read BDO's news release go to
Jeremy Corbyn announces a plan to tackle late payments culture. Labour Party leader Jeremy Corbyn has announced plans to tackle poor payment practices by big companies against their small suppliers. In a speech to FSB members, Mr. Corbyn’s proposals included excluding late-paying large firms from public contracts, and forcing big businesses being paid by taxpayers to pass on prompt payment requirements down the supply chain. FSB National Chairman, Mike Cherry, said: “Small firms are facing a late payments crisis. We know from our research that around 50,000 small firms a year go bust as a result of unfair and lengthy delays in big business customers paying what they owe. Others often have to take out loans to cover the gap. These poor practices and wider supply-chain bullying have to stop." To read the FSB's news release go to
Optimism among UK CFOs reaches 18 month high. According to Deloitte’s latest CFO Survey, business optimism and risk appetite have continued to rise from post-referendum lows and the effects of Brexit on corporate sentiment are easing. 31% of CFOs say they are more optimistic about prospects for their company than they were three months ago, up from 27% in Q4 and just 3% immediately after the referendum. This is the highest level since Q2 2015, when 35% were more optimistic. 17% say they are less optimistic, down from 22% last quarter and 74% after the referendum, and 34% report high or very high levels of uncertainty facing their business, down from 50% last quarter. Risk appetite also continues to climb, with 26% say now is a good time to take risk onto their balance sheets - up from 21% in Q4 and 8% after the referendum. However, this compares to 51% 12 months before the referendum. To read Deloitte's news release go to
UK SMEs face cashflow barriers. A new SME survey by Ashley Finance has found that smaller businesses are continuing to face barriers to funding across the UK, with 73% of them finding the application process to be overly ‘long and painful’. These figures directly correlate to figures from the British Bankers’ Association that show a dip of £1.6 billion in business borrowing from banks in February 2017. Richard Waldman, Group Sales Director of Ashley Finance, said: “The SME market is facing uncertain times, and our research shows us that matters are being made worse for a proportion of businesses that are struggling to access funding via traditional routes. To read Ashley Finance's news release go to
UK small business confidence recovers despite surging costs. According to the latest Federation of Small Businesses' (FSB) latest Small Business Index (SBI), confidence among UK small firms has risen to the highest level in over a year despite spiraling business costs. The SBI stands at 20.0 in Q1 2017, the highest figure since Q4 2015, and up considerably from the -2.9 recorded after the EU referendum. The strong recovery has been spurred by increased international trade. A net balance of 15.6% of small firms report a rise in export activity during the past three months, with a net balance of 30.5% expecting international sales to increase over the next quarter. Both figures are at their highest level since the SBI began. To read the FSB's news release go to
Small businesses outside London embrace Brexit Britain in bullish fashion. Business confidence amongst UK SMEs is on the increase, with just under half expecting sales to increase over the next three months according to new data from Bibby Financial Services (BFS). The latest figures show strong confidence in key UK regions, with businesses in Yorkshire & Humberside (56%), the East Midlands (55%), North East (54%) and West Midlands (53%) all expecting strong growth over the months ahead. However, SMEs in London – who overwhelmingly voted in favour of remaining in the UK - have the lowest confidence across the UK regions with only 38% expecting sales to grow. To read BFS' news release go to
Confidence soars among UK small construction firms. Confidence amongst UK construction firms is on the rise, with 74% of subcontractors set to invest in their business over the months ahead, according to the latest SME Confidence Tracker report from Bibby Financial Services (BFS). In addition, 50% of construction SMEs expect work volumes to increase over the next three months – the highest level since before the EU referendum. Helen Wheeler, Managing Director of Construction Finance at BFS said: “There was a collective confidence wobble amongst construction firms after the referendum last year. However, we are now seeing a step-change in attitudes amongst smaller construction businesses, with more firms looking to invest and grow. Work volumes are also rising, which is a positive indicator, particularly in light of wider economic uncertainty surrounding the UK’s separation from the EU." To read BFS's news release go to
M&A activity between the rest of Europe and the UK has trebled. According to analysis from Deloitte's CFO Survey, the value of M&A deals between the rest of Europe and the UK has more than trebled - from US$4.2 billion in the first quarter of last year to US$13.2 billion this year.  In addition, the number of UK CFOs expecting M&A activity to decrease over the next three years as a result of Brexit has decreased by 29% - from 40% immediately after the referendum to 11% in Q1 2017. Iain Macmillan, head of global M&A at Deloitte, commented: "dealmakers are getting used to uncertainty as a feature of the M&A landscape. The data shows they are prepared to make bold moves through M&A, rather than wait and watch how the negotiations play out. This shift in attitude is reflected in our latest CFO survey, where only one in ten CFOs now feel M&A will be slowed down by Brexit." To read Deloitte's news release go to
World Economic Outlook, April 2017: Gaining Momentum? The IMF's latest World Economic Outlook advises that momentum in the global economy has been building since the middle of last year, allowing The IMF to reaffirm its earlier forecasts of higher global growth of 3.5% in 2017 (up from 3.1% in 2016) and 3.6% in 2018. This improvement comes primarily from good economic news for Europe and Asia, as well as the IMF's continuing expectation for higher growth this year in the US. However, the IMF also predicts that some regions and countries, notably the Middle East, North Africa, Afghanistan, Pakistan and Saudi Arabia will continue to struggle this year with growth rates significantly below past readings. To read the IMF's news release with a podcast and link to the full report go to
Late payments restrict the growth of UK construction companies. The National Federation of Builders (NFB) has highlighted how late payment is preventing construction SMEs from growing their business. The construction industry has the worst payment performance record out of any sector in the UK economy, making up for 31% of all late payment. Richard Beresford, chief executive of the NFB, said: "Construction SMEs such as our members are currently owed more than £30 billion in unpaid voices. These are the local companies that – while working hard to make ends meet – employ local workers, train local apprentices and generate money in their local economy. To read the NFB's news release go to
European construction output grows as civil engineering picks up. An article published by The Construction Index reports that production in the construction sector grew by 6.9% in the Euro area in February compared to January and by 4.4% across the wider EU (EU28). The initial estimates from Eurostat also record that output increased by 7.1% in the Euro area and by 5.2% in the EU28 compared to February 2016. In terms of the month-on-month increase, the highest increases were recorded in Slovenia (+25.7%), Belgium (+18.7%) and Germany (+13.6%), while the largest decreases were observed in Poland (-2.8%), Sweden (-1.8%), and the UK (-1.6%). The annual increase of 7.1% in the Euro area in February 2017, compared with February 2016, is due to civil engineering rising by 10.3% and building construction by 6.2%. In the EU28, the increase of 5.2% is due to civil engineering rising by 5.6% and building construction by 4.8%. To read The Construction Index's article go to
International trade spurs increase in small business confidence in the UK's North West. Despite spiraling costs, small firms in the North West are feeling more confident and planning to take on or maintain staff, with international trade playing a major role, according to the latest Federation of Small Business (FSB) Small Business Index. The recovery has been spurred by increased international trade. More than two-thirds (69%) of exporters surveyed in the region state that international sales have been steady or increased in Q1, with the vast majority (85%) expecting this trend to continue over the coming three months. Interestingly, the recovery in confidence comes despite a surge in the cost of doing business, with 70% of small firms across the North West report a rise in operating costs over the past quarter. To read the FSB's news release go to
Career Opportunities
Opportunity of the Month
Account Handler, Howden Group UK Ltd, Wakefield.
Supports the account executives (& others in the client services team), to deliver an excellent and comprehensive service in the administration of new business, renewal and mid-term changes so that customers’ needs are best satisfied through suitable cover and pricing. 
Key Responsibilities / Accountabilities
  • Account ownership
  • Maintaining group retention rates
  • Technical duties (including data entry, chasing subjectivities & negotiating terms with insurers and Client Managers)
  • Ensure up to date records are maintained at all times on the Company systems
  • Assist in planning the most appropriate insurance programme for the client’s demands and needs 
Skills and abilities needed to perform role
  • Numerate and literate
  • Good communication and interpersonal skills including, written, verbal and face to face
  • Able to work independently and use initiative
  • Negotiation and influencing skills (able to sell)
  • Computer literate 
  • Resilient and calm under pressure
  • Analytical and able to solve problems
  • Able to work flexibly to achieve tight deadlines/targets
  • Able to positively react to change
  • Highly organised, with good planning/time management skills
  • An attention to detail
  • An ability to learn 
  • Team player, networks and able to build sustainable relationships 
Knowledge and Experience 
  • Understanding general & legal principles of insurance
  • Understanding of London market operations 
  • Specific product(s) knowledge and understanding of related wordings
  • Understanding of clients’ professional bodies’ standards
  • Good understanding of relevant regulatory and legal frameworks
  • Good understanding of company objectives and how own role contributes to these
  • Knowledge of the market within which the company operates including an awareness of competitors, specific territory knowledge, cultural awareness.
  • Specific systems’ knowledge relevant to role
Compliance & Regulatory Responsibilities 
  • Ensure compliance with all applicable Company and/or Group policies and procedures
  • Ensure correct authorisation is obtained and processes followed when required by the Company and /or Group policies and procedures. 
  • Ensure compliance with legal and regulatory requirements
  • Ensure that own performance, HR and T&C records are up to date and meet the Company and/or Group’s requirements
  • Maintain accurate records and deal with correspondence appropriately
  • Ensure compliance with Anti Bribery and Corruption policy and procedures 
Experience / Qualifications
  • Some relevant experience (e.g. in junior account handler or technician role is desirable. Senior Account Handler's or Account Executive Skillset (desirable).
  • Some experience of working within an office environment
  • GCSE Maths and English (or equivalent)
  • A levels (desirable)
  • Attainment of the LLMIT (the Lloyd's and London Market Introductory Test)
  • Working towards or has attained ACII.
To apply for this position please email a CV to 
(Please mention that you saw this vacancy on Credit Insurance News' Job Board)
Risk Underwriter - Credit Insurance, London. Credendo. 
As a Risk Underwriter, you directly report to the Country Manager of Credendo - Short-Term Non-EU Risk in London and functionally to the Team Leader International Cooperation of Credendo - Short- Term Non-EU Risks Underwriting and Credit Information Department in Brussels. You will work in close collaboration with the account managers at the branch and your colleagues at the HQ office in Brussels and other branches.
  • You will gather and analyse all information relevant for the assessment of short-term credit risks.
  • You will decide on acceptance of credit risk within individual delegated authority or submit proposals to the credit committee and executive committee. 
  • You will be a contact person for existing/potential clients and brokers; you will advise them and provide information on decision making process, respond to their specific questions within your functional responsibilities.
  • You will ensure the timely follow-up of decisions and monitoring of credit risk in the portfolio.
  • You will consult and monitor evolutions in policies and suggested credit conditions on the market as well as evolutions in macro- and microeconomic conditions in regions and countries where clients of Credendo - Short-Term Non-EU Risk are active.
  • You will ensure fulfilment of functional KPIs and the administrative follow-up of the files in the portfolio and keep information up to date. 
Your profile 
  • You are preferably graduated with a relevant working experience of 3 years.
  • You have an excellent knowledge of English. Knowledge of French or Dutch is certainly an extra asset.
  • You have strong IT skills.
  • You are client oriented and you have a commercial mind-set.
  • You have excellent analytical skills and you like working with figures.
  • You are able to convince others and to present your analyses and ideas both orally and in writing.
  • You are dynamic and result-oriented; you take initiative and have a sense of responsibility. 
  • You are well-organised, accurate and able to work with deadlines. 
  • You are eager to learn and have a broad interest in international economics and finance. 
  • You are dynamic, friendly and you have a sense of humour. 
Our offer: A challenging career in a multilingual and international environment with continuous learning opportunities to develop your talent. An attractive salary supplemented by a number of fringe benefits. To apply for this position please email your CV to (Please mention that you saw this vacancy on Credit Insurance News' Job Board)
Business Development Manager: Trade Credit 
Have you sold Trade Credit Insurance? Does working for an industry leader appeal? Would you like to work for a multi billion euro turnover business with a presence in over 100 countries? If you're a through and through hunter of new business and have previous experience of selling Trade Credit Insurance please read on. 
Package: Basic salary of up to £45,000 plus an uncapped commission structure and company car or car allowance 
Job Purpose: The successful candidate will be responsible for the acquisition of new business promoting credit insurance. 
  • To deliver sales meeting individual and team new business targets 
  • Ensure prudent Commercial Underwriting of Credit Insurance Business 
  • To take joint ownership of the loss ratio on the portfolio with the Risk department and deliver a profitable result to the business 
  • Develop relationships with brokers and other intermediaries 
  • To maximise the opportunities for all product lines, thereby maximising contribution 
  • Work closely with Customer Relations Department to ensure a timely and efficient service to clients and brokers 
  • Update and maintain systems 
  • Support other Commercial Teams to assist in the delivery of company objectives 
Benefits/Package: 35 hour working week; 25 days annual leave plus public holidays, rising with service; Pension contribution; Life assurance - 4 x basic salary, Private health, Company car/allowance, Season ticket loan.
For further information please contact Dale Hackney on 02079299643 or
(Please mention that you saw this vacancy on Credit Insurance News' Job Board)
Branch Director – Credit Insurance. Leeds city Centre.  Executive-level salary plus bonus & benefits. Job Ref: RJ-1451. 
 Our client is one of the biggest names in the world of insurance that, alongside controlling the largest corporate portfolio in Yorkshire, happens to run a very successful Credit Insurance Branch out of the Leeds city centre office. The business is performing incredibly well, both nationally and regionally, having recently picked up very high profile cases, swelling its Leeds branch’s profitability further. In this challenging role, you will take full P&L responsibility for a £1M income branch including the management of 10 credit insurance specialists comprising Brokers/ Handlers, Sales Executives and Admin/ Support personnel. 
We seek an inspirational leader and welcome applications from those from a Trade Credit background, other disciplines of insurance (Insolvency, Commercial, Underwriting) or from finance-related niches such as Invoice Discounting, Factoring or Commercial Banking/ Lending. To apply, please email and/or call 0345 1932465. 
(Please mention that you saw this vacancy on Credit Insurance News' Job Board)
Business Development Manager, £35,000 - £40,000 
Target driven Business Development Manager needed for global insurance company. Location is open dependent upon the right person and can include Manchester, London, Leeds or Bristol. Your background will be with in Trade Credit and a focus on the mid-market client base. Someone who understand managing client needs and a hunting for your next opportunity. The focus on a day to day basis will be: 
  • To deliver sales growth targets to meet individual and team target.
  • To price and structure business taking joint ownership of the loss ratio in the Region with the Risk department and delivering a profitable result to the business.
  • To develop strong client relationships and create a sense of mutual trust and beneficial reliance with new clients. 
  • To develop the relationship with Brokers. 
  • To maximise the opportunities for all product lines, thereby maximising contribution. 
  •  To maximise conversion of profitable opportunities with strong probability of long term retention of client. 
For more details or to apply please email
(Please mention that you saw this vacancy on Credit Insurance News' Job Board).
Forthcoming Events
Iran Trade Business Briefing 2017, 26 April. London.
With 2017 looking set to be another hugely significant year for Iran, GTR gathers in London to hold its inaugural 2017 Iran Trade Finance Business Briefing.
Following the events of 2016, which saw the January implementation of the Joint Comprehensive Plan of Action (JCPOA) nuclear deal, countless signing agreements and huge excitement concerning the potential provided by a new global market economy, interest levels in Iran have continued, alongside political wrangling and ongoing expert discussions regarding issues such as sanctions and compliance.
With a new US administration potentially signalling further change to the terms of the JCPOA and with Iranian elections scheduled for May, this event provides the perfect opportunity for business professionals to come together to consider the country’s future trade prospects, sharing experiences and gaining crucial insight into the opportunities provided by this exciting market. Topics for discussion will include: The view from government - The future of Iranian trade; Experiences of doing business in Iran - What you need to know; Understanding the regulatory landscape (including the impact of sanctions); Bridging the gap - How can you build financing capacity in Iran; Which industry sectors hold the key to fostering Iran’s future trade growth? Click here for more information.
Next steps for the UK insurance sector - innovation, regulation and key issues post-Brexit Thursday, 4 May 2017. Central London.
The seminar will provide policymakers and key industry stakeholders with an opportunity to discuss the future for the UK insurance sector.
Delegates will consider the impact of the EU referendum result on the sector, including its implications for the future of passporting, skills, investment and market stability, as well as options for the future of Solvency II and its impact on both stability and competition. Further sessions will focus on latest trends and challenges facing insurers - including the future use of big data and ongoing initiatives to tackle insurance fraud - and will also bring out discussion on how Government policy in areas such as Flood Re and personal injury reform will impact on the future of the sector.
It is also timed to discuss the findings of the Treasury Select Committee inquiry into EU insurance regulation, as well as other ongoing policy developments such as the Prudential Regulation Authority (PRA) consultations on cyber insurance underwriting risk and the sector’s ability to deal with market turning events. 
Speakers and other delegates at this conference are expected to be a senior and informed group numbering 120, including Members of both Houses of Parliament, senior officials from HMT, PRA, FCA and other relevant departments as well as representatives from life and general insurance sectors, brokers, business groups, lawyers, consumer bodies, consultants, academics, as well as members of the national and trade press. Click here for more information.
GTR’s East Africa Trade & Commodity Finance Conference. 9-10 May, Nairobi.
GTR’s East Africa Trade & Commodity Finance Conference returns to Nairobi on May 9-10 for its ninth consecutive year!
Bringing together the region’s leading corporates, traders and financiers for 2 days of on and off-stage discussion and debate about various political, economic and social risks and opportunities faced by Kenya and its region, 2017’s event will provide the ideal networking and learning platform to over 200 delegates from all over the world expected in attendance.
As a supporting partner of this event, we managed to secure a 15% to our readers and followers when booking online when using CIN15 code. To register or for more information, please contact Judith Mülhausen or click here.
Australia Trade Forum, 29 May 2017. Sydney.
Capitalise on exciting new opportunities for trade and investment in Australia, while meeting with leading representatives all in one day. Delegates can receive 6 PDCs for attending this event. A corporate-focused gathering bringing together all sectors involved in international trade, the event will report on developments in global markets and their impact on Australian trade, and explore what the future may hold for Australia’s corporates and exporters. Returning to Sydney for its fourth year, GTR’s annual gathering in Australia has evolved into the Australia Trade Forum for 2017. Five main themes for discussion: Australia’s current and future trade & investment landscape; Current challenges and opportunities for trade finance, treasury, supply chain and procurement; Digitisation across the finance sector; Commodity trade and financing; Infrastructure financing.
The event will provide maximum audience interaction with live polling, active debates and several stream options, allowing attendees to select their preferred structure. 2017’s conference will be an ideal opportunity to establish new relationships with those currently doing business in the country, bypassing the need to set up countless meetings over several days, and saving time and money. Click here to register or for more information. A 15% discount is available for readers with code CIN15.
TXF Venice 2017: The Global Borrower’s Summit , 7-9 June. Hilton Molino Stucky Hotel, Venice Italy. 
Government ministers, DFI leaders, CEOS and captains of industry will gather in Venice for TXF’s annual flagship European conference covering project, infrastructure, export & agency finance. Situated in the heartland of European exporters, Venice is a dynamic and historic financial hub.
Using the latest data and analysis, experts will discuss the trends of 2017 and how industry players can maintain their relevance in the market. Topics include the role of technology in project financing, ways in which DFIs have increased private debt market liquidity and political risk forecast. The agenda contains innovative workshops, idea-labs and debates, dedicated sessions on Italian export finance, and sector & regional breakdowns. 
Last year’s instalment in Rome welcomed over 700 guests from 130 international companies. For 2017, the event is expanding to include an additional day and an expected guest list of 1000 industry professionals. The conference will also host a Gala Dinner, which brings leaders together for an evening of entertainment. Guests can join a host of other intimate networking opportunities. 
To find out more information or register, please click here. Please note readers of Credit Insurance News will receive 10% of the ticket price with code CIN17sub.
GTR Asia Trade & Treasury Week 2017, 5-7 September. Singapore.
Global Trade Review, bringing the trade and treasury community together for well over a decade, will return to Singapore on September 5-7, 2017 for the award-winning conference series, GTR Asia Trade & Treasury Week. Building on its world-renowned reputation as the largest and most popular trade finance gathering anywhere in the world, the conference will provide an effective and impartial marketplace for all involved in trade, commodity and export finance, to gather for lively debate, networking and timely discussion. Offering a first-class business environment based in the heart of Asian trade routes, Singapore is an ideal location in which to find top-level trade and treasury specialists and global business leaders. Attendance figures are expected to exceed the 900 plus delegates of 2016’s event, making this an essential place to be for anyone involved in international trade and treasury. Click here to register or for more information. A 15% discount is available for readers with code CIN15.
Indonesia Trade & Commodity Finance Conference, 5 October. Jakarta.
GTR will return to Jakarta in October to provide an update on the domestic economy and an outline of the trade challenges which lie ahead. The Indonesia Trade & Commodity Finance Conference in Jakarta is the premier platform for trade and commodity experts, domestic and international, to gather for a day of discussion, debate and networking. Dedicated networking breaks throughout the conference will give delegates the chance to gather new leads and become reacquainted with peers. Save travel, time and money by attending, and meet the largest names in the trade & commodity markets all under one roof. Click here to register or for more information. A 15% discount is available for readers with code CIN15.
About this Issue's Sponsor: QBE
“QBE continued the expansion of its Trade Credit and Surety team in 2016 with key appointments in underwriting, risk management and claims. This follows a period of continual product enhancements, extended client appetite with the lowering of premium thresholds to appeal to the SME market and the expansion of our Manchester hub to service clients in the North.
With over 40 people now working in Trade Credit, Surety & Bonds, and offices in London, Manchester, Birmingham, Paris and Dubai, QBE European Operations is able to offer brokers and clients a wide range of products and services.
Through our market leading Trade Credit System, and uniform Global policy wording QBE is also able to offer an interconnected global and local service through our offices in Australia, Hong Kong, Singapore, US, Brazil.
We have broadened our product range to include Excess of Loss as well as Comprehensive and Selective products which include Single Accounts, Agreed Accounts (whereby the client selects only the Insured Buyers they want to insure), Major Accounts, Top Accounts and Top-up cover. We have recently introduced and rolled out a Tenant Default product for landlords. In a busy year for the Product Development team, 2016 also saw the launch of a Whole Turnover product designed specifically for the SME market.
We continue to provide and deliver market leading customer service with real time underwriting decisions, exceptional limit turnaround times and an impressive record of paying claims. Our proven track record of developing new products and services is evidence of our flexible and open minded approach to doing business.
Our investment in talented and experienced industry experts in both our credit and surety teams allows us to deliver this superior service and create products that suit a growing demand in using trade credit in more innovative and flexible ways.
In 2017 QBE will continue to provide an enhanced offering and service and we look forward to working together to manage risk and help trade take off. We have already seen the benefit of our enhanced product range delivering results as we enjoyed a record first quarter for new business. Particularly pleasing was the fact that the majority of cases were new to market and these successes were delivered in such a competitive environment.”
QBE Trade Credit

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