Welcome to June's issue of Credit Insurance News Digest, the industry newsletter devoted to the global trade credit insurance industry. This issue is sponsored by Farosol.
Index
Credit Insurance News
Industry-wide initiative to release standardised policy wording for bank-supported trade finance programmes. GTR (Global Trade Review) has reported that credit insurers, brokers, law firms and industry bodies are working together to release a Basel-compliant trade credit insurance template for bank-supported trade finance programmes. The project, called the Basel III Think Tank Initiative, was initiated by Willis Tower Watson and includes: AIG, the Bankers’ Association for Finance and Trade, Clifford Chance, Markel International, Standard Chartered, Sullivan & Worcester and QBE North America. Another 20 participants, also part of the initiative, are set to review the drafting group’s work in mid-June. Beginning with the UK, the aim is to release the final Basel III-compliant policy in August 2019. The US and Singapore policy wordings will follow. To read GTR's article go to https://www.gtreview.com/news/global/exclusive-industry-wide-initiative-to-release-standardised-insurance-policy-wording-for-receivables-finance/.
Trade credit insurance policy payouts hit a 10-year high in Northern Ireland. Belfast Telegraph has published an article in which Nigel Birney, Head of Trade Credit at Willis Towers Watson, warns that new Atradius data indicating that trade credit insurance claims have reached a ten-year high is a reflection of the significant challenges facing companies in Northern Ireland. Recent research by Willis Towers Watson and Begbies Traynor has also noted the enormous strain that companies are feeling on cashflow - particularly in the construction and retail sectors. In addition to noting the spike in claims, the recent figures from Atradius show that in 2018 Northern Irish companies saw a 50% year-on-year jump in high-value claims - i.e. above £90,000. To read Belfast Telegraph's article go to https://www.belfasttelegraph.co.uk/business/northern-ireland/trade-credit-insurance-policy-payouts-hit-10year-high-in-northern-ireland-38107515.html.
Trade credit insurers accused of not covering retailers "in slightly risk territory". Drapers has reported that UK suppliers and brands are facing a “nightmare” as they struggle to secure credit insurance with an increasing number of retailers amid turbulent trading conditions. Suppliers and distributors told Drapers that the pool of retailers they can work within the UK is shrinking, they are struggling to get credit insurance for an increasing amount of retailers, and their existing clients are putting more pressure on them to cut costs. “It’s a nightmare for suppliers right now. We can’t get credit cover for 60%-80% of our regular customers,” said Achilleas Constantinou, founder of womenswear brand Ariella. An Arcadia supplier agreed: “The insurers are not covering any retailer who is in slightly rocky territory or is not showing growth." To read Drapers' article go to https://www.drapersonline.com/news/squeezed-suppliers-as-high-street-hits-new-low/7036258.article (subscription may be required).
Credit insurers shelter from the crossfire in trade wars. InsuranceERM.com has published an article which examines how trade wars between the world's two biggest nations impacts trade credit insurers. Adrian Jones, Markel's London-based senior underwriter of trade credit, political risk and surety, and head of its strategy in Asia and the Middle East, comments that although a trade war "may put trade credit and political risk into people's minds as something to consider," no one cites it as a reason to buy cover." Instead, he notes that a much greater impetus for companies to take out cover is the lack of transparency or information about Chinese companies which can make it tough to determine their risk of default. "That is a bigger driver than whether there is a 2%, 5%, 10% tariff applied to their product." To read InsuranceERM.com's article go to https://www.insuranceerm.com/analysis/credit-insurers-shelter-from-the-crossfire-in-trade-wars.html (subscription may be required).
The shipping and bunker sectors are urged to be mindful of the potential for trade credit insurance capacity shortages. Bunkerspot has published an article in which Maurits Quarles van Ufford, Senior Vice President, Credit Specialities at Marsh JLT Specialty, considers how the new IMO 2020 regulation, requests for credit limits from new entrants to the market, as well as recent insolvencies and defaults in the bunker industry (OW and Aegean being two high profile examples) are impacting the shipping and bunker sectors and may affect credit insurance capacity. He notes: "We recommend that credit insurance purchasers assess whether their insurance limits will be adequate, and prepare ahead of time to ensure they can continue their activities uninterrupted." To read Bunkerspot's article go to https://www.bunkerspot.com/global/48143-global-marsh-industry-should-prepare-for-imo-2020-impact-on-trade-credit-insurance-capacity/.
Rising insolvencies drive credit insurance demand in Asia-Pacific. Insurance Business has reported that according to a study by Atradius, with global insolvencies expected to increase by 2% this year and payment behaviour in Asia-Pacific expected to deteriorate, uptake for credit insurance among businesses in the region is set to increase. This follows notable credit insurance growth from 48.1% to 55.5% in 2018. To protect their business against the rising trade credit risk, 42% of respondents in the region indicated to Atradius that they would increase their use of credit insurance. For China and Hong Kong, this percentage rises to above 50%. To read Insurance Business' article go to https://www.insurancebusinessmag.com/au/news/breaking-news/rising-insolvencies-drive-credit-insurance-demand-167727.aspx.
Tokio Marine Management (Australasia) Pty Ltd acquires the Bond and Credit Company. Tokio Marine Management (Australasia) Pty Ltd (TMMA) has announced it has acquired the Bond and Credit Company (BCC). BCC (Sponsor: Credit Insurance News Digest: 6 September 2016) is a specialist product insurance underwriting agency with a product offering comprised of surety bonds and trade credit insurance. The company employs 24 people and has offices in Sydney and Melbourne. Shigekazu (Sean) Ueno, Chief Executive Officer of TMMA, commented: “This acquisition presents exciting opportunities for the group to grow and expand these lines of business across the Oceania region and other areas in the future." To read Tokio Marine's news release go to https://www.tokiomarine.com.au/uncategorized/tokio-marine-management-australasia-pty-ltd-acquires-the-bond-and-credit-company/ .
Recent company failures illustrate the value of trade credit Insurance. New data from InfolinkGazette regarding recent company failures in the UK has again highlighted the importance of credit insurance. Notable examples include: Dudson Ltd, one of Englands oldest china manufacturers, which left 199 UK unsecured creditors owed over £6.5 million went into administration in April; Brilliant Energy Supply Limited, which left 68 UK unsecured creditors owed over £1.7 million (£6.3 million including overseas suppliers) when it was forced into insolvency; George Birchall Service Limited, which left 568 unsecured creditors over £7.3 million. Commenting on these failures and the losses incurred by unsecured creditors, Greg Connell, Managing Director of InfolinkGazette, commented: "unsecured creditors without credit insurance could be left with nothing.” To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6.
A changing trade credit insurance landscape in Australia creates additional risks for businesses. Bartier Perry Lawyers has reported that following the publication of the report of the Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry in Australia, there has been a steady increase in matters arising out of tightened trade credit insurance generally, or the total withdrawal of credit provided in some circumstances. "For instance, more businesses are asking us to pursue portfolios of trade debts so the size of their trade debtors can be reduced in line with insurers’ requirements." The news release also describes a recent case study in which an 11th withdrawal of credit insurance exposed each party in the transaction to a number of unwanted risks and potential causes of action. To read Bartier Perry's news release go to https://www.bartier.com.au/insights/articles/trade-credit-insurance-a-changing-landscape-creates.
Euler Hermes launches TRIBRating for players in the SME and MidCap funding space. Euler Hermes has noted that it expects that as the finalisation of Basel III and the implementation of Basel IV will make banks less willing to lend to SMEs, the role of direct lending to companies in Europe as an alternative to bank financing will continue to grow. In response, and to enable SMEs to attract a broader range of funding sources, Euler Hermes has announced that it has launched TRIBRating, a new service offering which identifies, analyses and monitors specific credit characteristics of SMEs and MidCaps and provides an assessment of their creditworthiness. The TRIBRating methodologies, which are available in Germany, France, Italy and Spain, were developed in collaboration with Moody’s Investors Service. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/media-news/news/stricter-regulation-could-force-european-smes-to-rely-more-on-non-banks.html.
Coface US launches new and enhanced credit information reports. Coface has announced it has launched an array of new and enhanced credit information products under its Business Information Services line in the US. The full range of ratings and credit reports includes: Debtor Risk Assessments, which indicate a company’s probability of default in the next 12 months; Full Information Reports, comprehensive reports that aim to provide in-depth analysis of an organisation’s overall credit risk; @Rating Credit Opinions, which offer recommended credit exposures for buyers using Coface’s @rating credit scale and Snapshot Information Reports. To read Coface's news release go to https://www.coface-usa.com/News-and-Publications/News/Coface-Launches-New-and-Enhanced-Credit-Information-Reports.
Excluding stockpiling, the UK economy has been in technical recession since Q3 2018. Euler Hermes has warned that excluding contingency stockpiling, the UK economy has been in technical recession since Q3 2018. It also looks set to remain in technical recession, "until the risk of a no-deal Brexit is fully off the table." Euler Hermes also predicts that the UK 's GDP growth will slow to 1.0% in 2020 after "a meagre" 1.2% in 2019, and expects business insolvencies, which increased by 10% in 2018 (to 21,237 cases), to increase by an additional 9% in 2019 - even in the event of an agreement on the separation terms and a framework for the future UK/EU relationship. However, Euler Hermes warns that in the event of a no deal Brexit (which Euler Hermes estimates has a 25% likelihood), this level would increase to 20%. In this scenario, UK GDP is forecast to fall by 1%. To read Euler Hermes' news release go to https://www.eulerhermes.co.uk/resources/economic-news/softer-brexit-does-not-rule-out-economic-slowdown.html.
Atradius downgrades the UK retail sector outlook to 'poor'. An article in Retail Week has reported that Atradius has downgraded the retail sector’s performance outlook for the year ahead from ‘fair’ to ‘poor’ and warned that after an 86% surge in the number of CVAs undertaken by retailers last year, the number will rise a further 5% this year. Simon Rockett, Atradius' Head of Underwriting, commented: “Uncertainty linked mainly to Brexit has hampered consumer spending as well as slowing business investment, creating tougher trading conditions . . . the industry is undergoing a period of correction and those who fail to adapt will face serious trouble.” So far this year, UK retailers including Arcadia, Debenhams, Cotswold Outdoor, Monsoon and Paperchase have considered using CVAs in a bid to cut costs and exit unprofitable stores. To read Retail Week's article go to https://www.retail-week.com/finance/credit-insurer-atradius-slashes-retail-sector-outlook/7031825.article?authent=1.
DSO data indicates that many global companies are tightening their credit conditions. Euler Hermes' latest annual review and forecast of global average Days Sales Outstanding (DSO), suggests that in a sign of companies tightening their credit conditions in line with the global economic slowdown, DSO fell by 1 day to 65 days in 2018 and is likely to fall by a further day in 2019. The US (51 days), Canada and the UK (52 days), Norway (53 days), Germany (54 days), Sweden (57 days), Poland and Belgium (59 days) all lowered their DSO. In contrast, Mediterranean countries including Greece (91 days), Italy (86 days), Morocco (84 days), Turkey (79 days), Spain (78 days) and France (73 days), seem to be "back in the bad habit of getting paid late by their customers.“ China recorded the longest average payment term in the world at 92 days (27 days above the global average). To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/media-news/news/days-sales-outstanding.html.
The global economy finds itself in a fragile place. Atradius' latest Global Economic Outlook warns that following a "remarkable" 3.2% expansion in 2018, world GDP growth is forecast to slide to 2.8% in 2019. Atradius notes that advanced markets are also generally shifting into a lower gear this year, led by the eurozone economy, which is expected to expand only 1.3% in 2019 and 1.5% in 2020. Furthermore, as the boost to growth from fiscal stimulus fades, US GDP growth is forecast to slow to 2.6% and further to 1.7% in 2020. Atradius also predicts that after a modest 2% decline in 2018, corporate insolvencies are expected to increase by 2%, marking the first annual increase since the global financial crisis. To read Atradius' news release go to https://group.atradius.com/publications/economic-research/economic-outlook-may-2019.html.
Corporate insolvencies in France surge in January but decline in April/May. Coface's latest Panorama has reported that the resilience of French economic growth had a positive effect on the health of domestic companies in March and April. In total, French business insolvencies from January to April 2019 increased by 0.8% (to 18,227), with January's 9.5% increase in shutdowns (in part due to the yellow vests movement) offset in April and May by declines in insolvencies of about 4% compared to 2018. Looking ahead, Coface predicts that France will see an overall 1.7% increase in insolvencies in 2019. Coface also notes that the number of companies created in France during the first four months of the year "reflects a certain economic dynamism." A total of 265,827 companies were created - an increase of 19.5% over the year - and even excluding self-employment, the increase remains significant at 10% (137,571 companies). To read Coface's news release go to https://www.coface.com/News-Publications/News/Corporate-insolvencies-in-France-microenterprises-in-the-trough-of-the-wave.
Both the UK and Ireland to see increased business insolvencies in 2019. Atradius' latest Country Report for the UK has predicted that assuming an orderly Brexit, British business insolvencies are expected to rise again (by 7%) in 2019, with the construction and retail sectors set to be the worst affected. Atradius also warns that a hard Brexit would immediately lead to a downside revision of the forecast. In contrast, Ireland's County Report forecasts that Irish companies will experience only a slight increase in company insolvencies; although this will mark the end of six years of unbroken declines (including 13% fewer failures in 2018). This increase is mainly due to elevated uncertainty around Brexit, with the manufacturing and food sectors most exposed due to their high dependency on exports to the UK. To read Atradius' news release go to https://group.atradius.com/publications/country-report-western-europe-united-kingdom-2019.html.
New Country Reports are also available for: France, Germany, Italy, The Netherlands, Spain, Belgium, Sweden, Denmark, Switzerland, Austria.
Lean times ahead for UK food and drink. QBE has published an article in which, Steve Roberts, Credit Lines Underwriter at QBE, notes that some sub-sectors of the food and drink sector are currently facing a "perfect storm" of challenges as significant as high profile sectors like retail and construction. The food manufacturing sector, for example, is dealing with labour shortages, poor harvests and uncertainty from Brexit, while the restaurant and food-to-go sector is having "a torrid time", with challenges including wafer-thin margins, higher costs and waning consumer confidence. Brexit also has serious implications for the sector, with a no-deal scenario likely to be particularly challenging for agriculture and food production, with implications for tariffs, supply chain and transport delays at ports. To read QBE's article go to https://qbeeurope.com/news-and-events/blog-articles/lean-times-ahead-for-uk-food-and-drink/.
One in four Australian businesses do not have a robust credit management strategy. New data from Atradius indicates that Australian respondents are now offering B2B customers credit significantly more often than in the past, with credit sales now amounting to 71.5% of the total value of sales to B2B customers - up from 47.7% last year. Cash-based sales, in contrast, contracted to 28.5%, down from 52.3% last year. Atradius also noted that Australian businesses use a mix of credit management techniques when assessing and monitoring trade credit, with the assessment of the credit quality of the customer, before making any trade credit decision, playing a key role for 26% respondents, and the same percentage of respondents offering early payment discounts. However, a notable one in four Australian businesses do not currently have a strategic approach to credit management. To read Atradius' news release go to https://group.atradius.com/publications/payment-practices-barometer-australia-2019.html.
The Export Hub: New service and website launched by the founder of EFCIS Trade Credit Insurance. Andy Moylan, the founder of EFCIS Trade Credit Insurance, has launched a new service and website, The Export Hub, which aims to help UK businesses export with confidence. The site will feature regular fresh content from people of influence, including Managing Directors of UK and international companies, who will share their export journey and experiences in a series of candid interviews, as well as practical information, tips and further services. In addition, companies can access the hub's 'Export De-Risk Model', to determine how their export score can increase "to a level that would attract funding and significantly reduce risk.” There is no charge for accessing the site and no fees. To take a look at the new service, go to www.theexporthub.com.
Credit Management Service opens an office in the UK. Unified Credit Solutions PVT Ltd, a B2B Credit Management Service used by credit insurers and major financial institutions, has announced the launch of the new UK office to enhance their offering into the UK and Europe. David Smith, as Country Manager, will lead the new office. Unified Credit Solution has offices in India, UAE, Thailand, Ghana, Malaysia and now the UK, and employs around 120 staff across these locations. Click here to read Unified Credit Solutions' news release.
The Berne Union response to the European Banking Authority. The Berne Union Legal and Regulatory Task Force (representatives of private sector insurers, Export Credit Agencies and multilateral insurers) has recently provided feedback to the European Banking Authority with arguments why a favourable treatment of credit insurance as a risk mitigating tool will ensure the availability of bank financing for exporters and investors. The task force was set up earlier this year to facilitate a coordinated approach in engagement with financial regulators. To read the Berne Union's letter go to https://www.berneunion.org/Stub/Display/81.
News Quiz
We are delighted to launch June's News Quiz.
Just nine short questions (all answers can be found in this issue and Credit Management News Digest), with the chance to win a £20 Amazon gift card or equivalent donation to the charity of your choice.
We will announce our next winner in the next issue on 10 July.
Just nine short questions (all answers can be found in this issue and Credit Management News Digest), with the chance to win a £20 Amazon gift card or equivalent donation to the charity of your choice.
We will announce our next winner in the next issue on 10 July.
Click here to take part.
Thank you to readers who took part in May's Quiz. We are delighted to say that the prize went to Tammy Saunders at Coface. Congratulations Tammy!
Thank you to readers who took part in May's Quiz. We are delighted to say that the prize went to Tammy Saunders at Coface. Congratulations Tammy!
New Appointments
BPL Global has announced the appointment of Donnie DiCarlo as Executive Vice President based in New York. Mr DiCarlo was formerly Senior Vice President of Marsh’s Credit Specialties Group and led Marsh’s Political Risk and Structured Credit Team in Latin America. This appointment is the latest addition to the BPL Global's operational presence in the Americas after recently opening a branch in New York.
Liberty Specialty Markets has announced that it has appointed Paul Kunzer as Head of Trade Credit Multi-buyer and Excess of Loss (XOL) based in Chicago. Mr Kunzer previously worked for AIG Trade Credit as Global Head of Multinational & Strategic Accounts.
Nexus Group has announced two significant appointments to the Nexus Asia leadership team.
- Former Lloyd’s Asia Pacific President Tony Egerton, who has over 35 years of experience in (re)insurance and structured finance, has been appointed CEO of Nexus Asia.
- Huntington Group Managing Director Gerard Pennefather, who founded WP Capital and the Huntington Group, has been appointed Non-Executive Chairman with immediate effect.
Career Opportunities
Client Manager
Aon are currently looking for a Client Manager to join the Credit Solutions team based in the Reading office.
About the role
As a Client Manager your key responsibilities will include:
Working as part of a multi skilled broking team and under instruction of client directors, to support strategic and global client relationships as well as ownership of own portfolio of clients.
Interacting with Clients, Insurers and colleagues on day to day policy management including:
- Managing credit limit process (applications, follow up, providing feedback to clients)
- Supporting clients on reporting of overdue buyers and liaising with insurers
- Assisting with claims submissions and claims’ broking process
- Negotiation of policy wordings with insurers and ensuring timely delivery of accurate policy documentation
- Management and monitoring of activity logs where required
- Providing clients with training and guidance on policy terms and conditions
- Gathering and analysing policy and market data, producing reports and presentations
Managing policy renewals within own portfolio and supporting client directors on renewal process for strategic accounts. Gathering and analysing relative statistical detail, submissions to market, chasing insurers for indications of cover, presenting terms and preparation of renewal reports.
Preparation for, and attendance of, client and insurer meetings/conference calls plus timely follow up of meeting notes and actions.
Providing advice to clients on market developments and share knowledge of market trends to enhance the overall value proposition.
Introducing and supporting team on new business opportunities to achieve individual new business target Liaising with colleagues across the Aon global network on Global Client programmes.
Responsible for adherence to business processes, systems and procedures (including usage of e.g. applicable client service model, applicable insurer online platforms) and Aon insurer security policies where relevant.
Working in accordance with the Aon UK Limited Risk Management Framework, and compliance with the Aon UK Limited policies, including participation in the management of risks (including completion of mandatory training) that may adversely affect the business, interests or reputation of any Group Company.
About you
As a Client Manager your skills and qualifications will ideally include;
- Experience of credit insurance, credit management or related sector a requirement
- Competent in use of Microsoft Office and IT systems
What we’re looking for in you:
- Enthusiastic and innovative
- Team player
- Ability to handle significant workflow through efficient time management and organisation
- Ability to use IT systems to efficiently to deliver client service
- Self motivated and willing to use own initiative
- Ability to find creative solutions to new problems as they arise
- Integrity and working in a way that positively impacts our clients, colleagues and communities
Salary and Benefits
This role offers a competitive salary and bonus, plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you will also have the opportunity to choose additional benefits, including healthcare, childcare vouchers and additional holiday. We also offer tremendous potential with a growing worldwide organisation.
To apply email your CV and covering letter to Laura Chen-Hoyle at laura.chen-hoyle@aon.com.
Experienced Client Executive, Manchester based.
Marsh currently have an excellent opportunity for an experienced Client Executive to join their Major Accounts Team in the Trade Credit Practice, based in Manchester. This is an exciting time for an ambitious individual to join Marsh's growing organisation and develop their career.
Marsh currently have an excellent opportunity for an experienced Client Executive to join their Major Accounts Team in the Trade Credit Practice, based in Manchester. This is an exciting time for an ambitious individual to join Marsh's growing organisation and develop their career.
Position Overview
- As a Client Executive you will work with both new and existing accounts, you will direct their profitable handling and growth through a commitment to best practice and client service excellence.
- This role offers an individual the opportunity to manage a portfolio of blue-chip, global clients including both placement and advisory activity.
- You will identify and agree strategies for each clients’ risk management, risk financing, insurance needs and objectives and work with clients to maximise the business opportunities and broaden the product offering.
- We are looking for someone with proven experience in managing large, complex client accounts.
- Insurance experience would be an advantage but we would also be keen to hear from individuals who have had a career in banking or finance.
- Experience of negotiating with Board Directors of major organisations is key as well excellent communication and influencing skills. Department Overview Marsh JLT Specialty’s Trade Credit Practice helps sellers manage receivables risk — and a wide range of other trade-finance issues — by providing access to credit insurance solutions worldwide.
- The team are based in Manchester but the client book is National outside London.
To apply for this position, please send your CV and covering letter to debra.brown@mmc.com.
About Marsh
Marsh is a global leader in insurance broking and risk management. In more than 130 countries, our experts in every facet of risk and across industries help clients to anticipate, quantify, and more fully understand the range of risks they face. We work with clients of all sizes to define, design, and deliver innovative solutions to better quantify and manage risk.
We offer risk management, risk consulting, insurance broking, alternative risk financing, and insurance program management services to businesses, government entities, organizations, and individuals around the world. To every client interaction we bring an unmatched combination of deep intellectual capital, industry-specific expertise, global experience, and collaboration.
Since 1871, clients have relied on Marsh for trusted advice, to represent their interests in the marketplace, make sense of an increasingly complex world, and help turn risks into new opportunities for growth. Our more than 30,000 colleagues work on behalf of our clients, who are enterprises of all sizes in every industry, and include individuals, multinational organizations, and government entities worldwide.
Visit www.marsh.com for more information and follow us on LinkedIn and Twitter @MarshGlobal.
Marsh and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC). Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: pension, health and welfare, tuition assistance, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/.
We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: http://www.mmc.com/diversity. Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.
Events & Offers
TXF Global 2019: Export, Agency & Project Finance
12, 13-14 June, Grand Hyatt Berlin.
This 12, 13 & 14 June we bring your flagship export, agency & project finance show to Berlin! If you only attend one event of the year in this industry, TXF Global is ‘the one’. Join the gig and throw yourself into deal heaven with the CEOs of Corporates, ECAs, DFIs, SOEs and government ministers.
This 12, 13 & 14 June we bring your flagship export, agency & project finance show to Berlin! If you only attend one event of the year in this industry, TXF Global is ‘the one’. Join the gig and throw yourself into deal heaven with the CEOs of Corporates, ECAs, DFIs, SOEs and government ministers.
3 days of epic headline acts, intimate networking, inspiring content and innovative session types
await anyone brave enough to get themselves a ticket.
Keynote speakers include:
- Prof. Dieter Kempf, President, FEDERATION OF GERMAN INDUSTRIES
- Dr. Christoph Herfarth, Head of Export Finance and Export Credit, Guarantee Department, GERMAN FEDERAL MINISTRY FOR ECONOMIC AFFAIRS AND ENERGY
- Anna-Karin Jatko, Director General, EKN - THE SWEDISH EXPORT CREDIT AGENCY
- Gabriel Cumenge, Deputy Assistant Secretary, MINISTRY OF FINANCE OF FRANCE - DG TRÉSOR
- Jose Pedro Freitas, CFO, MOTA-ENGIL GROUP
- Debora Revoltella, Chief Economist, EUROPEAN INVESTMENT BANK
Visit the website for the full speakers list and agenda.
To secure your ticket please book online here .
GTR US 2019, 13 June 2019. Chicago.
The GTR US conference is set to return to Chicago for its third consecutive year on June 13, 2019.
With the US midterm elections taking place in November 2018 amidst ongoing global geopolitical volatility and technological disruption across the trade sector, the strategic challenges surrounding trade financing, working capital optimization, and credit risk management remain a firm fixture on the boardroom agenda. A rapidly evolving market offering competing digital solutions across physical trade flows and the associated financing sectors only adds to the complexity faced by those tasked with financing US commerce.
Featuring a host of expert speakers, GTR US 2019 provides the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling corporate treasurers, financiers and trade credit managers to form a resilient, bottom line-boosting business strategy.
An in-depth, interactive agenda spanning business-critical insights from geopolitical risks to the latest financing trends, liquidity sources and tech innovations in the trade space will furnish attendees with a comprehensive view of the key commercial trends emerging in 2019. 2018’s meeting saw record attendance from across the trade sector, welcoming companies including Microsoft, Mars Inc, Caterpillar, Motorola, Bunge, Siemens, Olam, Samsung, BP, Louis Dreyfus Commodities and IBM, as well as leading trade and supply chain financing practitioners, credit risk mitigation experts, government bodies and those tech companies leading the disruption of trade.
With a keen focus on networking, GTR US 2019 will once again provide the ideal forum for US companies and financial service providers to meet and discuss the next steps for US trade, and the evolution of the trade finance space.
Last year, 26% of attendees were corporates & traders and 24% were bankers & financiers representing over 100 different companies. 91% of all attendees held a senior to a c-level position.
Companies that attended last year included ArcelorMittal, BP, Caterpillar, Louis Dreyfus Commodities, Mars Inc., Microsoft Corporation, Plexus Corp, and more. View the full list of companies that attended last year’s event here.
10% early booking discount available when booking online by May 17 with code: EBD10. Click here for more information.
The GTR US conference is set to return to Chicago for its third consecutive year on June 13, 2019.
With the US midterm elections taking place in November 2018 amidst ongoing global geopolitical volatility and technological disruption across the trade sector, the strategic challenges surrounding trade financing, working capital optimization, and credit risk management remain a firm fixture on the boardroom agenda. A rapidly evolving market offering competing digital solutions across physical trade flows and the associated financing sectors only adds to the complexity faced by those tasked with financing US commerce.
Featuring a host of expert speakers, GTR US 2019 provides the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling corporate treasurers, financiers and trade credit managers to form a resilient, bottom line-boosting business strategy.
An in-depth, interactive agenda spanning business-critical insights from geopolitical risks to the latest financing trends, liquidity sources and tech innovations in the trade space will furnish attendees with a comprehensive view of the key commercial trends emerging in 2019. 2018’s meeting saw record attendance from across the trade sector, welcoming companies including Microsoft, Mars Inc, Caterpillar, Motorola, Bunge, Siemens, Olam, Samsung, BP, Louis Dreyfus Commodities and IBM, as well as leading trade and supply chain financing practitioners, credit risk mitigation experts, government bodies and those tech companies leading the disruption of trade.
With a keen focus on networking, GTR US 2019 will once again provide the ideal forum for US companies and financial service providers to meet and discuss the next steps for US trade, and the evolution of the trade finance space.
Last year, 26% of attendees were corporates & traders and 24% were bankers & financiers representing over 100 different companies. 91% of all attendees held a senior to a c-level position.
Companies that attended last year included ArcelorMittal, BP, Caterpillar, Louis Dreyfus Commodities, Mars Inc., Microsoft Corporation, Plexus Corp, and more. View the full list of companies that attended last year’s event here.
10% early booking discount available when booking online by May 17 with code: EBD10. Click here for more information.
GTR Asia 2019, 3-6 September 2019, Singapore.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Europe 2019, 14 October 2019, Paris.
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets!
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets!
Last year, the two largest sectors in attendance were corporates & traders (39%) and bankers & financiers (22%). Over 250 different companies from around the world were in attendance, 78% of all attendees held a senior to a c-level position. Use code: EBD10 for 10% early booking discount – expires September 20. Click here for more information.
Supply Chain Finance Summit, 15-16 October 2019, Singapore.
BCR’s Supply Chain Finance Summit-APAC in Singapore focuses on the growth of supply chain
finance across the APAC region.
With local governments, international and regional banks; and investors all actively encouraging the development of local and cross-border SCF programmes, it is now, more than ever before, vital to review the latest developments in this market and understand how to capitalise on opportunities in this region.
Join us in Singapore to hear from the industry's thought leaders, engage in debate, network with your peers and help define the future of working capital.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-apac-0.
The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking.
With local governments, international and regional banks; and investors all actively encouraging the development of local and cross-border SCF programmes, it is now, more than ever before, vital to review the latest developments in this market and understand how to capitalise on opportunities in this region.
Join us in Singapore to hear from the industry's thought leaders, engage in debate, network with your peers and help define the future of working capital.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-apac-0.
The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking.
Alternative & Receivables Finance Forum, 14 November. London.
Alternative & Receivables Finance Forum tracks the transformation of receivables and invoice finance; showcasing the most successful new entrants to the market, examining the future of technology-enabled funding models, and driving the conversation on alternative finance for SMEs. This is a unique gathering, where you can network with established receivables finance providers and ‘alternative’ SME funders and find out how the competitive landscape for commercial finance is changing.
The comprehensive programme provides insights into the priorities influencing SMEs’ financial choices and showcases the latest technology-enabled distribution models.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/alternative-receivables-finance-forum-1. The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
Alternative & Receivables Finance Forum tracks the transformation of receivables and invoice finance; showcasing the most successful new entrants to the market, examining the future of technology-enabled funding models, and driving the conversation on alternative finance for SMEs. This is a unique gathering, where you can network with established receivables finance providers and ‘alternative’ SME funders and find out how the competitive landscape for commercial finance is changing.
The comprehensive programme provides insights into the priorities influencing SMEs’ financial choices and showcases the latest technology-enabled distribution models.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/alternative-receivables-finance-forum-1. The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
Supply Chain Finance Summit, 30-31 January 2020. Amsterdam
The fifth annual Supply Chain Finance Summit is a great opportunity to learn about the latest trends, ideas and developments transforming working capital and supply chain management, as well as a chance to network with leaders in the industry.
This in-depth event tracks the transformation of supply chain finance (SCF); showcasing the latest innovations within the industry for both domestic and cross-border financing, examining the future of technology-enabled supply chain models, and driving the conversation on increasing access of SCF for SMEs and emerging markets.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-1.
The Credit Insurance News delegate discount code is CIN20– please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
The fifth annual Supply Chain Finance Summit is a great opportunity to learn about the latest trends, ideas and developments transforming working capital and supply chain management, as well as a chance to network with leaders in the industry.
This in-depth event tracks the transformation of supply chain finance (SCF); showcasing the latest innovations within the industry for both domestic and cross-border financing, examining the future of technology-enabled supply chain models, and driving the conversation on increasing access of SCF for SMEs and emerging markets.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-1.
The Credit Insurance News delegate discount code is CIN20– please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
About the Sponsor: Farosol
Farosol is an international network of specialist credit insurance brokers from more than 20
countries around the world.
The Farosol broking team provides an unrivalled range of tailored credit insurance products as well as complementary services in the field of credit management including asset based finance.
Farosol members cover multiple countries to provide a seamless international footprint offering a significant direct advantage for their clients. This enables international companies using Farosol’s services to negotiate globally competitive rates for cross-border solutions in both credit insurance and credit management whilst still being serviced by independent brokers with local expertise. The best of both worlds!
Farosol’s ethos is based on expertise, close relationships, service quality, fairness and information transparency delivered with passion and enthusiasm making it an unrivalled partner for quality risk transfer and credit management programmes. It consistently meets the needs of clients seeking results in complex global markets to mitigate risk and maximise profitability.
Client needs are paramount in Farosol’s approach working across frontiers to put winning strategies in place.
The Farosol broking team provides an unrivalled range of tailored credit insurance products as well as complementary services in the field of credit management including asset based finance.
Farosol members cover multiple countries to provide a seamless international footprint offering a significant direct advantage for their clients. This enables international companies using Farosol’s services to negotiate globally competitive rates for cross-border solutions in both credit insurance and credit management whilst still being serviced by independent brokers with local expertise. The best of both worlds!
Farosol’s ethos is based on expertise, close relationships, service quality, fairness and information transparency delivered with passion and enthusiasm making it an unrivalled partner for quality risk transfer and credit management programmes. It consistently meets the needs of clients seeking results in complex global markets to mitigate risk and maximise profitability.
Client needs are paramount in Farosol’s approach working across frontiers to put winning strategies in place.
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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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