Welcome to the May 2021 issue of Credit Insurance News Digest. This issue is sponsored
by LiquidX.
Index
PLUS: This month's featured article, Digital Trade Credit Insurance — Time to Think Big
by Todd Lynady, Managing Director and Global Head of Insurance Sales and Business Development at LiquidX.
Credit Insurance News
Could Greensill's collapse make trade credit insurers more cautious? An article by S&P Global suggests that industry specialists believe that although the failure of Greensill Capital
may lead to trade credit insurance underwriters treading more carefully in some areas, the market should be largely unscathed by the Greensill fallout. Vinco David, Secretary General of the Berne Union, said the incident
"looks like a one-off", the supply chain financing business is sound, and insurers are happy to cover it. Richard Wulff, ICISA's Executive Director-in-waiting, agreed and noted that ICISA members had a "bumper" first quarter
for new business. "I don't think the top lines of the trade credit insurers will suffer because of this, or will suffer at all." Scott Ettien, Global Head of Trade Credit at Willis Towers Watson, also noted that instead of
deterring companies from using supply chain finance and shrinking demand for the associated insurance cover, Greensill's demise could have the reverse effect.
To read S&P Global's article go to https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/greensill-collapse-could-make-trade-credit-insurers-more-cautious-63892287.
The role of trade credit insurance in Greensill's collapse. GTR (Global Trade Review) has published an article that examines the collapse of Greensill and
the role of trade credit insurance in the company's downfall. The article notes that trade credit insurance cover was vital for much of Greensill’s lending; consequently, a chain reaction was set in motion when Australia’s
Bond and Credit Company advised that it did not intend to renew or extend policies due to expire at the end of February 2021. Initially, in 2020, Greensill pushed for renewal and sought alternative cover through its broker Marsh,
and then, in 2021, tried to force renewal by seeking a last-minute ruling from the supreme court of New South Wales. Sources close to Credit Suisse confirmed to GTR
that the non-renewal of that insurance cover was a significant factor in its decision to freeze its supply chain finance funds, and that loss of financing proved the trigger for Greensill's collapse.
To read GTR's article go to https://www.gtreview.com/magazine/volume-19-issue-2/greensill-empire-collapses/.
The German state aid programme will end, as planned, on 30 June. Coface has reported that the joint state aid programme of the German federal government and German trade credit insurers,
set up to stabilise supply chains during the pandemic, will come to its planned end on 30 June. Coface notes that many of the government's other support measures will continue until the end of the year, facilitating the recovery
of the German economy, and it is "the right time" to make trade credit insurance cover available again on a purely market-based basis with a gradual scale back of government intervention. Katarzyna Kompowska, CEO at Coface Northern Europe,
commented: “Even though the pandemic and its economic consequences are not over, the situation has changed since last year, and we now have a better assessment of its impacts both on sectors and companies. Supply chains have largely
stabilised, insolvency rates are still low, and significant parts of the economy are in a recovery process." To read Coface's news release go to https://www.coface.com/News-Publications/News/German-State-Aid-Programme-comes-to-planned-end-on-June-30th.
Are UK trade credit insurers still open for business? Willis Towers Watson has published an article in which Richard Tallboys, Executive Director — Financial Solutions Credit &
Political Risks at Willis Towers Watson, discusses the current state of the UK's trade credit insurance market. He notes that despite the challenges caused by the pandemic, in most cases, policies for Willis Towers Watson
clients have been renewed with "relatively modest premium increases in the 5-15% range" depending on trade sector and loss history. He also suggests that "despite a strange 2020", the trade credit insurance market has
resettled with stronger risk appetites, a more creative approach to adding sustainable risk and the ability to review and quote new business. Furthermore, "most importantly, claims have continued to be paid without
incident." Looking ahead, although Willis Towers Watson predicts a significant uplift in the volume of credit insurance claims in 2021/22, "the trade credit insurance market remains open for business."
To read Willis Towers Watson's article go to https://www.willistowerswatson.com/en-GB/Insights/2021/04/are-trade-credit-insurers-still-open-for-business.
Trade credit insurers risk appetites "may change quickly in these uncertain times.” GTR (Global Trade Review) has published an article that reports that Marsh has warned that
"a wave of company failures could be unleashed" when governments' trade credit programmes to prop up struggling companies through the pandemic begin to wind down. Megan Marshall, Global Sales Leader of Marsh’s
credit specialties practice, told GTR that although the market saw only “limited” overall price rises during 2020, trade credit insurance costs for some sectors — especially those "battered" by the pandemic,
such as transport and leisure — have now increased in response to the expectation of impending insolvencies. The article notes that Atradius said in a global economic report in March that it expects global insolvencies to be 26% higher in 2021 than 2020, with insolvency growth predicted
to be highest in France, Austria, Belgium, Australia and the UK. To read GTR's article go to https://www.gtreview.com/news/global/insurers-warn-of-zombie-company-debt-time-bomb/.
Canopius has exited excess-of-loss (XoL) trade credit. Insurance Insider has reported that it understands that Canopius has exited excess-of-loss (XoL) trade credit. The article notes that the carrier’s XoL trade credit team sits within the business’ credit, political risk and crisis management unit, with sources noting that XoL trade credit only made up a small proportion of the wider book
of business. A Canopius spokesperson told Insurance Insider that it had ceased writing new XoL trade credit business as of 26 March and that it would continue to honour contractual obligations for its existing policies.
They added that its exit had no bearing on the rest of the credit, political risk and crisis management operation, and management remained “absolutely committed” to it.
To read Insurance Insider's article go to https://www.insuranceinsider.com/article/28fscg07hsoqmqme1zuv4/canopius-exits-xol-trade-credit-and-places-team-under-consultation.
A subscription to Insurance Insider may be required. Free trials are available.
Did the CPRI market "hold its nerve" in 2020? The Berne Union's later newsletter contains an article in which Sian Aspinall, Managing Director of BPL Global, reflects on the last 12
months and evaluates whether the Credit and Political Risk Insurance (CPRI) market held its nerve in 2020, "or is it just a matter of low expectations
meeting a feeling that it could have been worse?" She notes that popular opinion is that relationships were valued, insureds were well supported, and demand held; an interpretation which BPL Global's
own data supports — although it also indicates that the reality is far more subtle and complex. Looking forward, she concludes that the outlook for CPRI is positive: "as we look to the green shoots of spring and a distant
but real hope of a global return to a more normal way of life, the CPRI market seems well-positioned to grow, potentially even to flourish." To read the article go to https://www.berneunion.org/Articles/Details/557/Steady-nerves-in-CPRI-Market-reflections-on-2020.
The US leads the global recovery. Coface's latest Barometer forecasts that although global economic trends are uneven due to uncertainties around the spread of COVID-19 and the speed of
vaccine rollout, the economic recovery will gain momentum from the Summer of 2021, thanks to stronger than expected growth in the US. As a result, Coface has raised its global growth forecast upwards by half a point
(+5.1% for 2021) and has upgraded 35 sectors of activity against only 3 downgrades. In addition to the US, Coface predicts that several other sectors of the world economy are likely to return to their pre-crisis level of
activity by the Summer. Less positively, Coface believes that the eurozone is unlikely to return to its pre-crisis GDP level before 2022, and notes that, despite the stabilising effect of government aid, the financial health of
companies in the eurozone deteriorated significantly in 2020. To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-Barometer-Q1-2021-US-leads-the-global-recovery-emerging-economies-lag-behind.
Post-pandemic recovery in the Middle East may improve opportunities for trade credit insurers.
Markel has published an article in its publication Market Matters, in which Michael Gardner, Underwriter — Trade Credit and Political Risk at Markel, describes how, despite the pandemic induced recession, 2021 can "probably
mark a turning point" for the Middle East economically. "The hopeful resolution of the COVID-19 health crisis, build up of non-oil revenues, improved geo-political stability, increased trade and acceleration of economic activity,
suggest a positive near term outlook for the Middle East from the impact of the COVID-19 pandemic." But despite these positive developments, the article also suggests that businesses will emerge
from the pandemic more aware and cautious of future catastrophic events, such as COVID-19, and cautions: "SMEs with tight cashflow are especially vulnerable in these situations, which underscores the importance of trade credit
insurance for their survival."
To read Markel's article go to https://performancefreed.markel.com/news/post-pandemic-recovery-in-middle-east-may-improve-opportunities-for-trade-credit-insurers?dm_i=19BZ,7C1XZ,52BRFM,TRCAQ,1.
Alex Selarnick of Cooley LLP advises trade credit insurance policyholders to "negotiate provisions relating to the timing of any notice of non-renewal".
in the wake of recent news coverage highlighting the potential impact an unexpectedly cancelled or non-renewed policy can have on a business, particularly one that relies on money from lenders or investors that require
trade credit coverage as a condition of funding, Cooley LLP has published some advice for trade credit insurance policyholders.
Cooley notes that many policyholders "might be surprised to learn that their policy may permit their trade credit insurer(s) to vary, reduce or withdraw a customer’s credit limit at any time and for any reason",
and suggests that it may be prudent for a policyholder to take a fresh look at key policy provisions and try to negotiate certain limitations. For example, "it is imperative to negotiate
provisions relating to the timing of any notice of non-renewal, providing the policyholder with sufficient time to try to find alternative coverage."
To read Cooley's article, go to https://www.cooley.com/news/insight/2021/2021-04-27-supply-chain-finance-and-trade-credit-insurance.
Trade credit insurance issues could exacerbate the challenges faced by UK businesses when government support ends. The latest Red Flag Alert research has illustrated how the UK government's
COVID-19 support measures, including the ban on winding up petitions for Coronavirus related debts, have kept the number of CCJs and winding up petitions substantially below pre-COVID levels.
For example, there were 23,325 CCJs and 715 winding up petitions lodged against companies during Q1 2020, compared to 9,377 and 15 during the same period in 2021 — a fall of 60% and 98%, respectively.
Ric Traynor, Executive Chairman of Begbies Traynor Group, warns that the termination of the UK government's support will leave many businesses exposed to the true scale of their debt, and notes that
this will be exacerbated by issues surrounding trade credit insurance "as cover is either withdrawn, restricted or simply becomes too expensive for companies."
To read Begbies Traynor's news release go to https://www.begbies-traynorgroup.com/news/business-health-statistics/highest-quarterly-leap-recorded-by-red-flag-alert-as-almost-100000-additional-businesses-drop-into-significant-financial-distress-in-q1-2021.
The birth of platforms and what this means for trade credit insurance. Trade Finance Global has published an article in which Marc Meyer, Senior Vice President and Subject
Matter Expert Insurance at Tinubu Square, provides an overview of the innovative and disruptive technologies that the industry has seen in the last 25 years and suggests that the big challenge now is how to standardise regulations,
processes, and documentation. He notes that in the post-pandemic world, "a better allocation of resources will mean focusing on fewer projects more closely, and suggests that banks, factors, and trade credit insurers could get
together with technology providers to set minimum standards for the emergence of innovative and disruptive technology tools (such as Blockchain and the systematic use of APIs) for the benefit of all stakeholders.
To read Trade Finance Global's article go to https://www.tradefinanceglobal.com/posts/the-birth-of-platforms-and-what-this-means-for-trade-credit-insurance/.
Trade credit insurance in Australia: Comparing 2021 with 2020. Insurance Business has published an interview in which Kirk Cheesman, Managing Director of the National Credit Insurance (Brokers) Pty Ltd,
notes that the Australian trade credit insurance market in 2020 was the hardest market he has ever seen in his 35 years. ”From a new business perspective, trying to generate interest from the insurers was very difficult, and it was
also very challenging in certain sectors to get them to renew policies where they had a poor loss ratio history.” However, once the government stepped in with protection mechanisms and financial support, the economy began to stabilise.
As a result, in 2021 things have "changed dramatically" and Australia's trade credit insurers are opening up to new business again and renewals.
To read Insurance Business' article go to https://www.insurancebusinessmag.com/au/news/breaking-news/trade-credit-insurance--where-are-we-postpandemic-252788.aspx.
The fight against fraud in credit and political risk. Charles Taylor Adjusting has published an article by Mike Holley, its Senior Consultant, Political Risk & Trade Credit, which warns that clients
are finding that fraud, where the obligor’s financial statements are fraudulent but the financial ratios often look good on paper, is a recurring cause of credit risk claims.
The article notes that although it is easy to get caught out — "By its nature, fraud in credit and political risk will be sophisticated,
and it is unlikely to ever be eliminated completely" — there are tell-tale signs (listed) that may be visible
at the underwriting stage. Above all, Mike Holley advises that policyholders should be curious.
"There is no such thing as a stupid question. Do not be put off raising a query to assist with your understanding of the risk. Fraudsters are often very bold, and part of their confidence trick is to try to make a questioner look foolish."
To read Charles Taylor Adjusting's article go to https://charlestaylor.com/en/news/news-post/the-fight-against-fraud/.
Greensill collapse ‘could damage investor confidence’ in SCF funds. An article by GTR (Global Trade Review) reports that following the collapse of Greensill, a paper by Fitch Ratings
has raised concerns about funds that rely on trade credit insurance as a safety net, "in effect boosting the creditworthiness of the underlying portfolio". This creates the risk of “a rapid and material
negative change in a [fund’s] risk profile” if insurance cover is terminated, the paper cautions, particularly where the portfolio has exposure to lower quality or unrated companies. Fitch Ratings adds that it "typically will not rate transactions
that are significantly dependent on credit insurance.” Elsewhere in the article, Sean Edwards, Chairman of the International Trade and Forfaiting Association, adds that
placing supply chain finance assets into funds “adds another level that needs to be understood”,
especially when credit insurance is used. To read GTR's article go to https://www.gtreview.com/news/global/greensill-collapse-could-damage-investor-confidence-in-scf-funds/.
A comparison of Receivable Put contracts and trade credit insurance. Todd Lynady, Managing Director and Global Head of Insurance Sales and Business Development at LiquidX, has published an article
that compares the key differences between Receivable Put contracts and trade credit insurance. He notes that Receivable Put contracts are loss-occurring, meaning that the contract must be in place
at the date of the loss, while trade credit insurance is risk-attaching, meaning that the sale of the good or service must have occurred during the policy period regardless of the date of the loss.
Receivable Put Contracts are also usually more expensive than trade credit insurance and, as such, are often only used when trade credit insurance is not available due to the buyer’s risk profile.
However, while the products are different in many ways, Todd also notes that Receivable Put Contracts can work alongside trade credit insurance to protect the risk of a customer’s bankruptcy.
To read LiquidX's article go to https://www.liquidx.com/2021/04/22/receivable-put-contracts-and-trade-credit-insurance-a-comparison/.
Launch of a new specialist credit insurance broker, Attis Credit Solutions Ltd. Paul Martin, formerly Managing Director of Acumen Credit Insurance Brokers & latterly Commercial Director at Aon. and Steve Hamstead, Head of Business Development
at Aon, have launched Attis Credit Solutions Ltd, headquartered in Leeds. Peter Bell joins Paul and Steve as Client Director. Paul Martin, Joint Managing Director, commented:
"We are excited at the launch of Attis Credit Solutions. Our ethos will be focused on service delivery and adding value to our clients credit insurance programmes.
With ambitious growth plans we will look to widen our national and international presence with like-minded ambitious colleagues."
For more information, go to http://www.attiscs.com/.
A condensed view of country risk assessments published by Atradius, Coface, Credimundi and Euler Hermes. AU Group has released its latest AU 'G Grade' for Q2 2021. The AU 'G-Grade' is based on the
individual assessment of a country by each of the four main credit insurers and is calculated according to the real risk taken by these major insurers collectively. Also, the IMF Statistics Department's seven key indicators give a
view of the key trends and the level of risk per country. This issue notes that there is now "light at the end of the tunnel" for some countries (China, US, UAE, UK). For the UK, for example, after a -9.9% recession in 2020
(according to the IMF), a rebound in growth is expected for 2021 (+5.3%) and 2022 (+5.1%), as the health situation gradually improves.
To download the latest 'G Grade' go to https://www.au-group.com/new-trends-in-country-risks-au-g-grade-q2-2021/.
How to protect your business from the insolvency domino effect. Euler Hermes has published an article that notes that, according to R3,
even before COVID-19, during a 6-month period in 2018, 26% of UK companies were impacted by customer failure within their supply chain. Furthermore, "unless it is your job to gather market intelligence",
you cannot possibly gauge the risks "at three, four and five removes" from your immediate customer/supplier relationships. Some "infamously catastrophic" examples of the domino effect cited by Euler Hermes include the demise of Lehman Brothers, which led to the global financial crash; Carillion whose compulsory liquidation caused 75,000 job losses; Thomas Cook’s, whose collapse took down 500 Spanish hotels that Thomas Cook
did not own; the Toys R Us bankruptcy, which impacted major toymakers like Hasbro and Mattel, who received only pence on the pound for outstanding invoices.
To read Euler Hermes' article go to https://www.eulerhermes.co.uk/resources/cash-flow-management/how-to-protect-your-business-from-the-insolvency-domino-effect.html.
More German insolvencies are in the pipeline.
A new report from Coface has advised that insolvencies in Germany dropped significantly in 2020 compared to 2019, despite the worst recession since 2009. This was largely thanks to public support programmes.
In total, 15,840 companies became insolvent — the lowest level of insolvencies since 1993 and the sharpest decrease since 1975.
According to Coface's simulation, total insolvencies should have increased by 6% in 2020 compared to 2019.
As in reality, insolvencies fell by 15.5%, a share of up to 21.5% (or 4030 insolvencies) could be in the pipeline.
The bulk should come from hospitality, where Coface expects around 660 “hidden insolvencies”, followed by transport and construction with around 420 each, manufacturing (230) and retail (190).
To read Coface's news release go to https://www.coface.com/News-Publications/News/Germany-More-insolvencies-in-the-pipeline-despite-significant-aid.
Atradius publishes new country reports on Chile, the UAE and Morocco.
- For Chile, Atradius notes that GDP in 2020 contracted by 6% due to the negative impact of adverse weather conditions on mining, the US-China trade war, ongoing social unrest and the Coronavirus pandemic. However, a rebound has started since Q3 of 2020, and in 2021, the economy is forecast to grow strongly by 7%, helped by a fast vaccination rollout.
- For UAE, After a deep 7% GDP contraction in 2020, Atradius reports that the economy is on its path to recovery. In 2021, GDP is forecast to increase by about 1%, but it could grow even higher, by about 3%, depending on the speed of domestic and global vaccination rollout and the subsequent containment of the coronavirus.
- For Morocco, Atradius advises that with a 7% GDP contraction in 2020, the Moroccan economy was hard hit by the Coronavirus pandemic. This year, the economy is forecast to rebound by about 5%, contingent on the gradual easing of lockdown measures, an effective vaccine rollout in H2 of 2021 and more benign weather conditions supporting agriculture performance. However, a major factor determining the pace of the rebound will be the scope of recovery in Europe, Morocco’s main export market.
The US looks set to take over China's role as the growth engine of the world economy. Euler Hermes Global Insurance Report 2021 notes that while China was the growth engine of the world economy in
2020 (i.e. the only big economy that grew at all), the US will take over this role in 2021. Global GDP is expected to rebound by +5.1% in 2021, with more than one-fourth of the recovery being driven by the US. Then,
in 2022, world GDP growth should reach +4%. Although Europe remains the "recovery laggard" compared to other economic heavyweights, Euler Hermes expects the European economy to change from a double-dip recession at
the start of 2021 to a consumption-led catch-up growth spurt in the second half of the year. All in all, Euler Hermes predicts that Eurozone GDP will expand by +4.0% in both 2021 and 2022, which means that the Eurozone economy
is set to recover to pre-crisis GDP levels only in H1 2022 — almost a full year after the US. To read Euler Hermes' report go to https://www.eulerhermes.com/en_global/news-insights/economic-insights/Allianz-Global-Insurance-Report2021-Bruised-but-not-broken.html.
Congratulations to . . .
BPL Global, Marsh and AIG who were among the winners at the GTR Leaders in Trade awards 2021.
BPL Global, Marsh and AIG who were among the winners at the GTR Leaders in Trade awards 2021.
- BPL Global won the Insurance Sector award in the 'Leaders in Trade for Resilience awards' category.
- AIG won the Insurance Sector award in the 'Leaders in Trade for Pandemic Support' category.
- Marsh won the 'Leaders in Trade in Sustainability' award.
Atradius Collections has been awarded accreditation from the Chartered Institute of Credit Management (CICM). Atradius Collections is the only member that is a collections agency, as well as the first ever cross-functional team.
It is also the first company to have undertaken the award process completely virtually.
A chance to celebrate and remember John Cross
Johns friends from school, university, social, squash and family have arranged a date and venue to meet up and celebrate John’s life. We, his friends from the industry, are of course invited to join on Saturday the 17th July at the Oyster Shed, I Angel Lane London EC4R 3AB.
Johns friends from school, university, social, squash and family have arranged a date and venue to meet up and celebrate John’s life. We, his friends from the industry, are of course invited to join on Saturday the 17th July at the Oyster Shed, I Angel Lane London EC4R 3AB.
The booking is from 3 pm with a few words from those that are looking to speak about John at around 4 pm.
There is indoor and plenty of outdoor space available spilling out along the Thames towpath.
All are welcome to join, there is no need to confirm numbers, please put a note in your diaries.
New Appointments
Coface has appointed Arwel Roberts as Senior Risk Underwriting Manager, based in the UK. Arwell joins Coface from Atradius, where he had worked for ten years as Senior Underwriter
PIB Insurance Group has appointed Iain Gunn as Senior Account Executive. Iain rejoins PIB Group (where he worked from 2011-2016) from CMR Insurance Services.
Atradius has appointed Jake Giddings as
Senior Business Development Manager. Jake joins Atradius from Nexus Trade Credit where he was Risk Underwriter.
Aon has promoted Lynsey Graham to Client Director. Lynsey has been with Aon for more than sixteen years, most recently as Account Manager. Lynsey is based in Glasgow.
Lockton Australia has appointed Lydia Woolf as Senior Associate — Surety, Credit & Political Risk at Lockton Australia. Lydia joins Lockton from National Credit Insurance (Brokers) Pty Ltd.
Avenue Insurance Partners has appointed Sam Ashdown as Senior Credit Risk Analyst. Sam joins Avenue from Atradius where he most recently worked as Senior Underwriter — Metals, Transport & Automotive.
Arden Insurance Brokers have made two new appointments.
- Richard Miller joins as Head of Trade Credit, Political Risk & Surety. Richard formerly worked for PIB Group as Head of TradeRisk Solutions.
- Nicola (Nikki) Salmon joins Arden as Client Director — Trade Credit and Surety. Nikki joins Arden from PIB Group where she was Account Executive — Trade Risk Solutions.
Career Vacancies
We are looking for a candidate to join our growing business. The role is an office based one in our
busy Leeds based support team, located close to the City centre. The role is varied, but the core is
assisting account executives with client work and carrying out other duties to help and support the
business. The team in Leeds is small and informal, a cheerful demeanour and a good sense of
humour would be an asset.
The role includes negotiation of credit limits and claims, dealing with overdues, preparation of reports as well as providing clients with advice on policy compliance. Experience of trade credit insurance and an understanding of company accounts preferred but not essential. A good working knowledge of Microsoft programmes (word, excel) is required.
Standard hours are 9-5 Monday to Friday, training will be given. Please apply in confidence to John Cockshutt at john.cockshutt@wdenis.co.uk marking your e-mail `confidential’.
W Denis Credit Risks Ltd has been established 21 years as a specialist broker, and has offices in Leeds, Tamworth and London. We are part of the W Denis group, a family owned independent general insurance business and Lloyds’ of London Broker.
The role includes negotiation of credit limits and claims, dealing with overdues, preparation of reports as well as providing clients with advice on policy compliance. Experience of trade credit insurance and an understanding of company accounts preferred but not essential. A good working knowledge of Microsoft programmes (word, excel) is required.
Standard hours are 9-5 Monday to Friday, training will be given. Please apply in confidence to John Cockshutt at john.cockshutt@wdenis.co.uk marking your e-mail `confidential’.
W Denis Credit Risks Ltd has been established 21 years as a specialist broker, and has offices in Leeds, Tamworth and London. We are part of the W Denis group, a family owned independent general insurance business and Lloyds’ of London Broker.
Check us out at
www.wdeniscreditrisks.co.uk.
Events & Professional Development
GTR East Africa 2021 Virtual. 12-13 May 2021.
Following the success of the inaugural virtual event in October 2020, GTR East Africa will return once again in a digital form for 2021, taking place on May 12-13, 2021. Utilising GTR’s bespoke virtual event platform, this online gathering promises expansive networking and an extensive and comprehensive programme of live and on-demand content, welcoming the leading practitioners in trade, agribusiness, supply chain and commodity finance. Join industry experts from across the region to explore the latest developments, strategies and solutions employed to drive East African trade growth. LINK: https://bit.ly/3gphJ0x.
Following the success of the inaugural virtual event in October 2020, GTR East Africa will return once again in a digital form for 2021, taking place on May 12-13, 2021. Utilising GTR’s bespoke virtual event platform, this online gathering promises expansive networking and an extensive and comprehensive programme of live and on-demand content, welcoming the leading practitioners in trade, agribusiness, supply chain and commodity finance. Join industry experts from across the region to explore the latest developments, strategies and solutions employed to drive East African trade growth. LINK: https://bit.ly/3gphJ0x.
Receivables Finance International Convention, 18th – 20th May 2021 - Virtual.
BCR’s 21st annual Receivables Finance International Convention provides an essential update on the latest invoice financing trends, market challenges and innovations.
The receivables finance sector continues to evolve rapidly. Covid-19 has meant a significant shift in market attitudes. Some of these will be permanent; some will disappear over time. Many expect a rapid rise in receivables finance business coming out of the pandemic as government-imposed restrictions are eased. But navigating to that point could be tricky as the financial support provided by governments will expose many SMEs to terminal positions.
RFIx 2021 will take a deep dive into the impact of the pandemic and global geopolitics on market trends and risk. It will explore how practitioners can become fitter, leaner, and better in this new world through innovative product development, technology and new markets, and discover the new challenges around ESG, regulatory and legal issues.
This flagship event for the receivables finance industry attracts delegates from across the globe, bringing together both market experts and new entrants. Being a virtual event, it provides a chance to network with an even wider circle of industry peers.
Join senior receivables finance executives at the 21st annual RFIx Convention and ensure the right direction for your business.
As event partners, Credit Insurance News can offer members a 25% discount on a delegate pass rate. To register please follow this link. The member discount code is rfix21-med.
Alternatively, you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
BCR’s 21st annual Receivables Finance International Convention provides an essential update on the latest invoice financing trends, market challenges and innovations.
The receivables finance sector continues to evolve rapidly. Covid-19 has meant a significant shift in market attitudes. Some of these will be permanent; some will disappear over time. Many expect a rapid rise in receivables finance business coming out of the pandemic as government-imposed restrictions are eased. But navigating to that point could be tricky as the financial support provided by governments will expose many SMEs to terminal positions.
RFIx 2021 will take a deep dive into the impact of the pandemic and global geopolitics on market trends and risk. It will explore how practitioners can become fitter, leaner, and better in this new world through innovative product development, technology and new markets, and discover the new challenges around ESG, regulatory and legal issues.
This flagship event for the receivables finance industry attracts delegates from across the globe, bringing together both market experts and new entrants. Being a virtual event, it provides a chance to network with an even wider circle of industry peers.
Join senior receivables finance executives at the 21st annual RFIx Convention and ensure the right direction for your business.
As event partners, Credit Insurance News can offer members a 25% discount on a delegate pass rate. To register please follow this link. The member discount code is rfix21-med.
Alternatively, you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
National Credit Awards 2021. 21 October 2021. The Waldorf Hilton, London.
New for 2021, MoneyAge is proud to present the National Credit Awards.
The awards are designed to honour the outstanding professionals and firms in the many varied fields of the credit industry, to recognise, celebrate, and promote best practice, to support continuing development, and to contribute towards raising the standards within the credit arena.
The awards are free to enter and you can enter as many categories as you like.
Head over to the website to find out more.
SUBMIT YOUR ENTRY: https://www.moneyage.co.uk/creditawards/index.php.
Deadline for entries: 25 June 2021
New for 2021, MoneyAge is proud to present the National Credit Awards.
The awards are designed to honour the outstanding professionals and firms in the many varied fields of the credit industry, to recognise, celebrate, and promote best practice, to support continuing development, and to contribute towards raising the standards within the credit arena.
The awards are free to enter and you can enter as many categories as you like.
Head over to the website to find out more.
SUBMIT YOUR ENTRY: https://www.moneyage.co.uk/creditawards/index.php.
Deadline for entries: 25 June 2021
Stecis is getting back on track with Webinars, Classroom courses and Masterclasses.
As we all hope that the Covid-19 pandemic is under control after the summer, STECIS has planned again a number of classroom courses in November 2021. For Trade Credit Insurance and Surety Bonds, at each Foundation and Advanced courses will be offered in the vicinity of Amsterdam Schiphol. In case still necessary, all applicable Covid-19 restrictions will be in place during the classroom training courses. During the classroom trainings real, practical cases will be discussed. Additionally, various webinars on both Trade Credit Insurance and Surety Bonds have been already scheduled throughout the year. These webinars are interesting to all individuals who are starting their career in the TCI and/or Surety Bonds industry, but also for all other interested parties like brokers, re-insurers´ employees, lawyers, credit managers etc.
To expand our offering STECIS is currently developing three masterclasses on Trade Credit Insurance that will address the following topics: TCI and Digitalisation, Non-traditional TCI products and TCI and Finance. These masterclasses will be hold by top experts from the TCI industry presenting the recent developments and trends in the field of TCI. Joining these masterclass will be not only be an excellent way to keep up to date with important developments in the TCI world. The courses are also an excellent means to increase your professional network as you will meet other participants and top experts from the industry.
When the outlines of the three masterclasses are available, they will be shared via Credit Insurance News and the website of Stecis.
More information can be found on the Stecis’ website: www.stecis.org.
All courses will run at the Steigenberger Hotel at Amsterdam-Schiphol.
Further information can be obtained by sending an email to: info@stecis.org.
As we all hope that the Covid-19 pandemic is under control after the summer, STECIS has planned again a number of classroom courses in November 2021. For Trade Credit Insurance and Surety Bonds, at each Foundation and Advanced courses will be offered in the vicinity of Amsterdam Schiphol. In case still necessary, all applicable Covid-19 restrictions will be in place during the classroom training courses. During the classroom trainings real, practical cases will be discussed. Additionally, various webinars on both Trade Credit Insurance and Surety Bonds have been already scheduled throughout the year. These webinars are interesting to all individuals who are starting their career in the TCI and/or Surety Bonds industry, but also for all other interested parties like brokers, re-insurers´ employees, lawyers, credit managers etc.
To expand our offering STECIS is currently developing three masterclasses on Trade Credit Insurance that will address the following topics: TCI and Digitalisation, Non-traditional TCI products and TCI and Finance. These masterclasses will be hold by top experts from the TCI industry presenting the recent developments and trends in the field of TCI. Joining these masterclass will be not only be an excellent way to keep up to date with important developments in the TCI world. The courses are also an excellent means to increase your professional network as you will meet other participants and top experts from the industry.
When the outlines of the three masterclasses are available, they will be shared via Credit Insurance News and the website of Stecis.
More information can be found on the Stecis’ website: www.stecis.org.
All courses will run at the Steigenberger Hotel at Amsterdam-Schiphol.
Further information can be obtained by sending an email to: info@stecis.org.
About the Sponsor: LiquidX
LiquidX: The Best Tech in Fintech
LiquidX provides technology solutions to financial institutions, corporations, and insurers for automating and optimizing working capital, trade finance, and trade credit insurance. Our industry-leading technology solutions cover the entire financial supply chain through two interoperable platforms: InBlock for order and invoice automation, and LiquidX 360 for financing and insurance. LiquidX incorporates blockchain technology and machine learning analytics to greatly enhance transparency, reporting, and forecasting for financial professionals.
LiquidX is a first mover in the digital transformation of Trade Credit Insurance, completely changing how Trade Credit Insurance is purchased and managed. Our solutions for automated quoting and digital policy management improve access to coverage, enhance compliance, and provide transparency by connecting all participants.
The company is headquartered in New York with offices in Boston, London, and Singapore. Broadridge, an investment grade fintech leader, is LiquidX’s strategic operational services provider and largest committed investor, ensuring the company’s growth for years to come.
To learn more about our next-generation solutions please visit liquidx.com.
LiquidX provides technology solutions to financial institutions, corporations, and insurers for automating and optimizing working capital, trade finance, and trade credit insurance. Our industry-leading technology solutions cover the entire financial supply chain through two interoperable platforms: InBlock for order and invoice automation, and LiquidX 360 for financing and insurance. LiquidX incorporates blockchain technology and machine learning analytics to greatly enhance transparency, reporting, and forecasting for financial professionals.
LiquidX is a first mover in the digital transformation of Trade Credit Insurance, completely changing how Trade Credit Insurance is purchased and managed. Our solutions for automated quoting and digital policy management improve access to coverage, enhance compliance, and provide transparency by connecting all participants.
The company is headquartered in New York with offices in Boston, London, and Singapore. Broadridge, an investment grade fintech leader, is LiquidX’s strategic operational services provider and largest committed investor, ensuring the company’s growth for years to come.
To learn more about our next-generation solutions please visit liquidx.com.
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