Welcome to the March 2020 issue of Credit Insurance News Digest. This issue is sponsored by Nimbla.
Index
Credit Insurance News
Aon to merge with Willis Towers Watson to create $80 billion company.
Insurance Age has reported that Aon is set to buy Willis Towers Watson for $30 billion (£22.9 billion) in an all-stock transaction which values the combined businesses at approximately $80 billion (£61.1 billion).
This follows discussions between the two brokers which were made public in a regulatory filing on 5 March 2019 and then quickly rejected a day later when Aon signalled its intention to walk away.
However, the two companies confirmed the deal on 9 March, noting that it combines two “highly complementary businesses” into a technology-enabled global platform. To read Insurance Age's article go to https://www.insuranceage.co.uk/broker/7500926/aon-to-merge-with-willis-towers-watson-to-create-80bn-company.
How trade credit Insurance provides a lifeline for growth.
Aon has published a C-Suite Series report, 'Driving growth amid the chaos', in which industry experts explore how businesses can adopt trade credit insurance products to stay ahead and how the credit insurers are responding with new services and expertise. Regarding the industry's potential for growth. Jason Disborough, CEO of Multinational Clients (International) at Aon, commented: "We think as few as two in 10 CFOs are making full use of credit solutions." Coface's CEO Xavier Durand, Atradius' CMO Andreas Tesch, Euler Hermes' President and Chairman of the Management Board Wilfried Verstraete, Aon's Head of Global Clients Pieter van Ede, and Aon's CEO (Credit Solutions) Stuart Lawson are area among those quoted.
To download the full report go to https://www.aon.com/emea/c-suite/credit/default.aspx.
Marsh: Coronavirus and its impact on the trade credit insurance industry. Marsh has reported that the current Coronavirus outbreak and efforts to contain its spread are disrupting economic activity and have had an immediate impact on the trade credit insurance market, with a minority of insurers taking dramatic action. According to Marsh although most insurers are taking a pragmatic approach and monitoring the situation, at least one has cancelled limits for buyers in Hubei province with little notice for clients, while Marsh reports that another has withdrawn entirely from multi-buyer whole-turnover risks in Asia, focusing on a single-risk approach to underwriting. To read Marsh's news release go to https://www.marsh.com/uk/insights/risk-in-context/covid-19-trade-insurance-implications.html.
The potential impact of Coronavirus on the trade credit insurance industry.
Insurance Journal has published an article which describes the possible implications that Coronavirus could have on the trade credit insurance industry, and notes that a slowing economy and lagging consumer spending could lead to higher credit insurance claims. The longer the outbreak continues, the more significant the impact could be. The article notes that Allianz's CEO Oliver Baete commented in an interview with Bloomberg last week: "The issue that may affect us is if you have massive bankruptcies in small-and medium-sized companies." Mr Baete also advised that although Allianz's credit insurance business isn't large in Asia, the firm has been reducing its exposure in China for the last two months.
To read Insurance Journal's article go to https://www.insurancejournal.com/news/international/2020/03/04/560126.htm.
The UK remains a challenging environment for credit insurers despite political certainty. Insurance Day has published an article in which Ray Massey, Underwriting Director at Tokio Marine HCC, discusses his predictions for the year ahead on key industry sectors. He notes that while the outlook for 2020 is looking more optimistic than the previous year, largely due to the return of a majority government, key sectors continue to face a heightened risk of insolvency and non-payment. Major factors that will influence the financial year ahead include; Brexit, government spending and, more recently, the outbreak of Coronavirus and its impact on the global economy. To read Insurance Day's article go to https://insuranceday.maritimeintelligence.informa.com/ID1130381/UK-remains-challenging-environment-for-credit-insurers-despite-political-certainty.
Trade credit insurers are taking a pragmatic approach to Coronavirus. Reinsurance News has reported that AM Best has said that trade credit insurance is one of the areas likely to feel an impact from disruptions to global trade as a consequence of Coronavirus. However, the rating agency believes that trade credit insurers are already taking a proactive approach by continuously monitoring exposures and preparing to cut limits when they identify an issue. The article also notes that as an industry, European insurers and reinsurers are well-positioned to manage their potential exposure to pandemic risk. To read Reinsurance News' article go to https://www.reinsurancene.ws/european-re-insurers-prepared-to-manage-pandemic-risk-am-best/.
Coronavirus: "an unwelcome guest at a bad time". A new report by Atradius warns that although the impact of the Coronavirus outbreak will be "relatively mild", it comes at a moment when global economic growth was already expected to slow to its lowest levels since the financial crisis. Under the most pessimistic of the two scenarios considered in the report (i.e., that the outbreak lasts until the end of June), Atradius estimates that the economic impact of the virus could shave 0.5% off global GDP in 2020 - resulting in 2% growth overall, with the US, Eurozone and Emerging Asia experiencing a weakening of 0.25%, 0.5% and 1.1% respectively. Notably, for China, this scenario could lead to 4.5% GDP growth in 2020 (1.5% less than Atradius' initial outlook). To read Atradius' report go to https://group.atradius.com/economic-research/coronavirus-an-unwelcome-guest-at-a-bad-time.html.
Businesses turn to trade credit insurance as volatility grows.
Reinsurance News has reported that Aon has noted that although the credit market has seen steady growth in recent years, with covered receivables exposures now exceeding €3.0 trillion (ICISA's figure), there is still significant scope for further uptake and awareness of the solutions the credit insurance and surety market can provide. Just an estimated 20% of CFOs are making use of solutions available. “Businesses are under increased pressure to both free up capital and manage supply chain risk," Stuart Lawson, CEO (Credit Solutions) at Aon, commented. “Credit insurance should be viewed as a critical tool in achieving these goals, enabling businesses to more effectively use the credit and capital markets to underpin their strategic ambitions – and enable sustainable growth.” To read Reinsurance News' article go to https://www.reinsurancene.ws/businesses-turning-to-credit-insurance-as-volatility-grows-aon/.
Trade Credit insurance drove Indonesian non-life growth in 2019. Asia Insurance Review has reported that the Indonesian General Insurance Association has revealed that trade credit insurance growth was the primary reason for an overall 14.1% increase in non-life insurance premium income in 2019. The article notes that trade credit insurance grew by 86.2% from IDR 7.86 trillion in 2018 to IDR 14.64 trillion in 2019, and was the third-largest class of business in terms of premium (18.4%). To read Asia Insurance Review's article go to https://www.asiainsurancereview.com/News/View-NewsLetter-Article/id/50389/Type/eDaily/Indonesia-Credit-insurance-drives-non-life-growth-in-2019.
Euler Hermes launches Trade Match to help companies identify export risks and opportunities. Insurance Business has reported that Euler Hermes has launched Trade Match, a new web application designed to help companies identify export business opportunities in 70 economies and over 17 sectors. "With our partner Toucan Toco, we wanted to make Trade Match a control tower of world trade for our customers, and also for journalists, students and all trade players of foreign trade," commented Ludovic Subran, Chief Economist of
the Allianz Group. "The trade war is not inevitable. You just have to know where you set foot when you export." To read Insurance Business' article go to https://www.insurancebusinessmag.com/asia/news/breaking-news/euler-hermes-launches-trade-match-tool-213774.aspx.
BPL Global's credit and political risk insurance (CPRI) exposure to North America and Europe has increased by 46% and 75% respectively since 2018. BPL Global has published its annual Market Insight report which describes how the risks faced by CPRI insurers are evolving with increasing enquiries to cover risk located in OECD countries. This demand accounted for approximately 25% of the BPL Global's enquiry flow in 2019, with over 10% relating to deals where the US, UK or France were the underlying country of risk. Furthermore, an analysis of the broker's live policies shows a 46% increase in its exposure to North America in 2019, which has nearly doubled since January 2018 when it stood at US$1.35 billion. Likewise, its exposure to Europe has increased to US$6.47 billion – up by 75% compared to January 2018. To download a copy of the report go to https://bpl-global-live-i7zebczp8q29.netdna-ssl.com/wp-content/uploads/2020/02/BPL-Market-Insight-Report-2020.pdf.
Potential regulation changes in the Indian trade credit insurance sector in 2020. Markel has published an article by Dillon Matthews (Markel's Senior Underwriter -Trade Credit & Political Risk), which notes that in September 2019 the Insurance Regulatory and Development Authority of India instigated a review of its three-year-old guidelines on trade credit insurance. This includes the current prohibition that no insurer – except the export credit agency ECGC – can issue credit insurance policies to domestic banks. A change in existing regulation, which could come as early as this year, would enhance trade finance opportunities in India for corporates, banks and trade credit insurers alike. To read Markel's news release go to http://www.markelinternational.com/regions/asia-pacific/products-and-expertise/Extra/Cover-stories/India-sees-potential-regulation-changes-in-Trade-Credit-market-in-2020/.
Arch Capital to buy a 29.5% stake in Coface. Insurance Journal has reported that Arch Capital Group Ltd has entered into a share purchase agreement with Natixis regarding the acquisition of a 29.5% stake in Coface. The transaction will be completed at a price of €10.70 per share, with a transaction value of approximately €480 million. As part of the deal, Arch explained that four Arch nominees will replace Natixis' seven representatives on Coface's board of directors. This will result in the majority of Coface's board members being independent.
To read Insurance Journal's article go to https://www.insurancejournal.com/news/international/2020/02/25/559331.htm.
Nexus broking division Xenia acquires trade credit business from Howden UK.
Nexus Group has announced that its independent broking arm, Xenia Broking Group, has entered into an agreement to acquire the trade credit business of Howden UK Group Limited, a specialist trade credit broking business based in Birmingham, Glasgow, Manchester and Cardiff.
The transaction will complete on 31 March 2020 following which Xenia will integrate Howden’s trade credit business with its regulated entity Credit Risk Solutions Limited. Stuart Grice will become Client Service Director, North West and Scotland for Xenia post-completion.
To read Nexus Group's news release go to http://www.nexusunderwriting.com/news/nexus-broking-division-xenia-acquires-trade-credit-business-from-howden-uk.
Global insolvencies: Record high failures of major companies. Euler Hermes has reported that it has identified a record level of global failures among large companies - those with over €50 million of turnover- with 342 major insolvencies totalling more than €205 billion in turnover in 2019. North America (+29 cases) was the key contributor to the global rebound in major insolvencies, along with Asia (+5). Overall, the US and China both experienced 7 and 8 out of the 20 largest insolvencies registered in 2019, respectively. Despite a slight decrease (-9), Western Europe remained the largest contributor to the global insolvency count in 2019 with 133 cases. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/economic-research/news/global-insolvencies-record-high-failures-of-major-companies.html.
BPL Global shines a spotlight on credit and political risk insurance demand. Insurance Business has published an article in which BPL Global reveals that around a third of all the credit and political risk insurance (CPRI) enquiries it received in 2019 related to the oil, mining, metals, and extractive industries. This means that this particular block continues to make up the largest proportion of demand for CPRI coverage. "With many insurers now closed to any coal-related risk . . . it will be interesting to see how this trend develops over the next few years," said BPL Global Managing Director Sian Aspinall. To read Insurance Business' article go to https://www.insurancebusinessmag.com/uk/news/war-political-risk/bpl-global-shines-spotlight-on-credit-and-political-risk-insurance-demand-214192.aspx.
Recent company failures illustrate the value of trade credit insurance. InfolinkGazette has reported that the recent failures of three UK construction firms, Bardsley Construction Limited, Clugston Construction Limited and Broadley (Group) Limited, have left unsecured creditors owed over £43 million. Regarding Clugston's administration, Greg Connell, Managing Director of InfolinkGazette, commented: "When Clugston should have been filing their 31st January 2019 accounts, they deployed the all too common ruse of reducing their accounting period by a single day, which illogically gives a company another three months to file their accounts." He added: "This effectively meant that trade creditors never got to see how a sub-optimal financial situation had become dire." To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6 .
Corporate insolvency growth to accelerate in 2020. Atradius has warned that global corporate insolvencies may increase by 2.4% in 2020. This is a pronounced acceleration from the 1.4% increase recorded in 2019 and is primarily due to the Coronavirus outbreak. Atradius estimates that the number of Western European businesses going bankrupt will rise by 2.1% in 2020, up from a 0.2% decrease in 2019, with the UK facing another year-on-year 7% increase in corporate failures (the highest rate in Western Europe). Asia-Pacific faces the highest rise in insolvencies in 2020 (+4.2%), in part due to its close ties to China. To read Atradius's news release, which includes a county by country comparison for 2019 and outlook for 2020, go to https://group.atradius.com/economic-research/corporate-insolvency-growth-to-accelerate-in-2020.html.
A UK-EU trade deal is unlikely in 2020. Euler Hermes' Head of Macroeconomic Research, Ana Boata, has warned that Euler Hermes expects that UK GDP growth would fall to +0.6% before a recession (0.6% growth) in 2021 should there be a Hard Brexit, i.e. exit under WTO conditions as soon as 31 December 2020. This would imply an average import tariff of 5% on average on goods imported from the EU and the rest of the world. In contrast, if the transition period is extended until mid-2021, Euler Hermes predicts growth of 1% in 2020, rising to 1.6% in 2021. Euler Hermes currently estimates that the risk of "no trade deal" at end-2020 now has a 15% probability. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/economic-research/news/brexit-a-uk-eu-trade-deal-is-unlikely-in-2020.html.
Bollington Wilson buys trade credit insurance broker. Insurance Business has reported that the Bollington Wilson Group has completed the purchase of Harrogate-based insurance broker Prophet Trade Credit Limited (Prophet). Prophet, which has been trading since 2001, specialises in trade credit insurance, debt recovery and credit information. Paul Moors, CEO of Bollington Wilson, commented that adding Prophet to the Bollington portfolio complements the existing products and services Bollington Wilson offers to businesses of all sizes. To read Insurance Business' article go to https://www.insurancebusinessmag.com/uk/news/breaking-news/bollington-wilson-makes-second-acquisition-of-the-year-213726.aspx.
Coface launches its new 2023 strategic plan, Build to Lead. Coface has announced that its new strategic plan, Build to Lead, will broaden and deepen the business and cultural transformation initiated in its previous Fit to Win strategic plan. For the core credit insurance business, this includes simplifying and digitising Coface's operating model, boosting its risk underwriting, information and claims management capabilities, as well as investing in new technologies. The new plan also intends to leverage Coface assets in specialty businesses, including Factoring: Single Risk and bonding, and Information and services. To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-capitalizes-on-its-strategic-successes-and-launches-Build-to-Lead-its-new-2023-strategic-plan.
Trade credit insurance provided under the protection of the Solvency II regime is a highly secure credit risk mitigation tool for banks. KPMG has published a new report, commissioned by the International Trade and Forfaiting Association (ITFA) and a group of other associations, which highlights that the unique characteristics of credit insurance under the protection of the Solvency II regime make it a highly secure credit risk mitigation tool for banks. ITFA’s notes that without its advocacy efforts, the risk is high that it could become economically unviable for banks to insure better-rated credit risks. This could impact insurers’ appetite to continue offering credit insurance policies, putting approximately €600 billion-worth of yearly support to the real economy at risk. To read the ITFA's news release (with a link to the full report) go to https://itfa.org/itfa-press-release-kpmg-insurance-insolvency-study/.
Increased trade credit risk for media buyers. QBE has published a new Sector Spotlight on the UK advertising industry, in which Jamie Calder, Senior Underwriter at QBE Trade Credit & Surety, warns that insolvency rates are at heightened levels for some sectors that feed into the advertising industry. However, he notes that according to the Advertising Association/WARC Expenditure Report, advertising spend in the UK is expected to have risen by 5.2% to £24.8 billion in 2019 - with similar increases predicted for 2020. As a provider of trade credit insurance, QBE has a strong appetite for advertising industry business and have been actively growing in this area. To read QBE's Sector Spotlight go to https://qbeeurope.com/resilience/sector-spotlight-2020-advertising/.
New Appointments
Euler Hermes has announced the appointment of Loeiz Limon-Duparcmeur, as Group Chief Financial Officer and Member of Board of Management. He succeeds Chantal Schumacher, who has decided to take a new role in Allianz SE. Mr Limon-Duparcmeur was previously Euler Hermes' Group Head of Risk Underwriting.
Atradius Collections has announced that it has appointed Yvette Gray as its new Country Director for the UK and Ireland.
Ms Gray has been with Atradius since 1999 and was instrumental in setting up Atradius' Collections in the UK and Ireland.
Her most recent role was Global Programme Manager.
Job Vacancies
Chief Executive Officer - EXPORT Egypt
EXPORT Egypt is seeking to fill the position of CEO for the new Egyptian ECA. The successful candidate will report directly to the Board of Directors and represent EXPORT Egypt in its relations with the sector ministry, central bank, export and trade associations, banking and insurance community and other third parties including international organizations. The CEO will also interact with the members of the Board of Directors and the senior management of EXPORT Egypt and the senior management of the Central Bank, Ministries of Finance, Trade & industry, and Investments as well as liaising with external counterparts and shareholders at the highest decision making level.
EXPORT Egypt’s institutional relations with the international export credit community fall also within the remit of the CEO and should be developed in line with the mission of EXPORT Egypt.
Key Role and Responsibilities
Core Competencies
EXPORT Egypt is seeking to fill the position of CEO for the new Egyptian ECA. The successful candidate will report directly to the Board of Directors and represent EXPORT Egypt in its relations with the sector ministry, central bank, export and trade associations, banking and insurance community and other third parties including international organizations. The CEO will also interact with the members of the Board of Directors and the senior management of EXPORT Egypt and the senior management of the Central Bank, Ministries of Finance, Trade & industry, and Investments as well as liaising with external counterparts and shareholders at the highest decision making level.
EXPORT Egypt’s institutional relations with the international export credit community fall also within the remit of the CEO and should be developed in line with the mission of EXPORT Egypt.
Key Role and Responsibilities
- Lead the day-to-day management of EXPORT Egypt, assuring the implementation of operational plans in a cost-effective manner, monitoring and reporting the results to the Board and achieving financial, operational and trade development objectives of EXPORT Egypt.
- Cooperate with the Board of Directors to determine and implement EXPORT Egypt’s mission, and plan for short and long-term goals of the company within the broader strategic, economic and export development goals of the country.
- Define, develop and nurture institutional and organisational strategy, as well as a comprehensive operational plan, ensuring implementation in line with the short-term and long-term objectives set by the Board of Directors.
- Represent EXPORT Egypt externally and maintain and develop relationships with external partners, shareholders and stakeholders, in order to build critical partnerships and promote the image of EXPORT Egypt.
- Keep the Board and its committees fully informed on all matters of significant relevance to EXPORT Egypt as well as on all aspects of the company’s operational and financial affairs.
- Establish risk policies and procedures including monitoring mechanisms consistent with best practice in business of this nature.
- Oversee and guarantee the quality, timeliness, fairness and adequacy of financial reporting, establishing under your responsibility, and submitting to the Board, the annual accounts and the Annual Report of EXPORT Egypt.
- Ensure a high performing managerial team and foster a development culture for the entire organisation in view of the future development of EXPORT Egypt.
- Ensure the execution of key Human Resources processes in line with best practice.
- Maintain and manage a sound and effective organisational structure and an effective leadership to the management and the staff of EXPORT Egypt, establish effective means of control and co-ordination for all operations and activities.
- Foster a corporate culture promoting business ethics, integrity and transparency.
- Represent EXPORT Egypt in judicial proceeding.
- • Developing Others: Builds the long-term capability of others by guiding and developing them to make the most of their competence and potential, based on an accurate understanding of their true strengths and development needs.
- Strategic Thinking: Thinks about the long -term organisation strategy and how to align to and implement it; comes up with useful new strategic insights.
- Team Leadership: Builds a high performing team, ensuring it is focused, motivated and inspired to achieve organisational objectives.
Interested applicants should contact Ramy Elshaarway at Ramy.Elshaarawy@cbe.org.eg for more information.
Events & Offers
20th anniversary Receivables Finance International Convention, 10-11 March. London.
Join the global receivables finance sector's premier event:
This year’s 20th anniversary Receivables Finance International Convention is set to be BCR’s biggest yet: 47 speakers confirmed and a substantial exhibition of technology providers plus the RFIx Awards Gala Dinner.
RFIx is happening at a very special time of rapidly increasing scope and opportunity for the receivables finance industry. This whole sector is evolving and developing so rapidly that these are very exciting, even shocking times. Come, join us and be a part of something special…
Book your place for #RFIx20, which takes place on 10-11 March 2020, London Marriott Hotel Grosvenor Square and help define the future of working capital finance: Go to https://bcrpub.com/events/rfix-%20receivables-finance-international-convention-2020 to https://bcrpub.com/events/rfix-receivables-finance-international-convention-2020.
Join the global receivables finance sector's premier event:
This year’s 20th anniversary Receivables Finance International Convention is set to be BCR’s biggest yet: 47 speakers confirmed and a substantial exhibition of technology providers plus the RFIx Awards Gala Dinner.
RFIx is happening at a very special time of rapidly increasing scope and opportunity for the receivables finance industry. This whole sector is evolving and developing so rapidly that these are very exciting, even shocking times. Come, join us and be a part of something special…
Book your place for #RFIx20, which takes place on 10-11 March 2020, London Marriott Hotel Grosvenor Square and help define the future of working capital finance: Go to https://bcrpub.com/events/rfix-%20receivables-finance-international-convention-2020 to https://bcrpub.com/events/rfix-receivables-finance-international-convention-2020.
GTR Africa, 11-12 March. Cape Town.
GTR Africa returns to Cape Town on March 11-12 for the definitive event in African trade and infrastructure finance, set to welcome over 400 delegates all keen to discuss the unrivalled business opportunities found on the continent. Take advantage of the opportunity to hear from a wide range of experts, including corporates, banks and alternative financiers, government bodies and various other actors all involved in the exciting world of African trade, as well as unrivalled chances to network and enjoy the beautiful setting of Cape Town!
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Africa returns to Cape Town on March 11-12 for the definitive event in African trade and infrastructure finance, set to welcome over 400 delegates all keen to discuss the unrivalled business opportunities found on the continent. Take advantage of the opportunity to hear from a wide range of experts, including corporates, banks and alternative financiers, government bodies and various other actors all involved in the exciting world of African trade, as well as unrivalled chances to network and enjoy the beautiful setting of Cape Town!
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Russia 2020, 1 April. Moscow.
GTR Russia 2020 will once again come to Moscow in April. Russia’s most established gathering for the trade and export finance industry last year gave increased attention to the corporate experience in both the import and export space, as well as offering a platform for local and international ECAs to offer their perspectives and plans. Attendees will benefit from critical market insight and idea-sharing through a series of informative discussions, and networking sessions in various formats, providing access to over 100 companies engaged in some of the most influential sectors in the region.
GTR Russia 2020 will once again come to Moscow in April. Russia’s most established gathering for the trade and export finance industry last year gave increased attention to the corporate experience in both the import and export space, as well as offering a platform for local and international ECAs to offer their perspectives and plans. Attendees will benefit from critical market insight and idea-sharing through a series of informative discussions, and networking sessions in various formats, providing access to over 100 companies engaged in some of the most influential sectors in the region.
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR UK 2020. 6 May. London.
GTR UK 2020 will take place in London on May 6, bringing the trade community together to discuss the potential implications for corporates, financiers and policymakers alike. The event will also consider the important role that all stakeholders have to play in promoting British businesses abroad and seizing on the huge opportunities to secure the UK’s future prosperity, with a strong focus on the role of the financial services community and the UK government in developing a global network to support trading companies.
GTR UK 2020 will take place in London on May 6, bringing the trade community together to discuss the potential implications for corporates, financiers and policymakers alike. The event will also consider the important role that all stakeholders have to play in promoting British businesses abroad and seizing on the huge opportunities to secure the UK’s future prosperity, with a strong focus on the role of the financial services community and the UK government in developing a global network to support trading companies.
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR East Africa 2020, 14-15 May. Nairobi.
GTR East Africa marks its 11th annual conference in Nairobi, Kenya on 14-15 May 2020, where a cutting edge agenda will explore the key macroeconomic, geopolitical, financial market and tech trends shaping the East African trade finance landscape. This two-day conference provides GTR attendees with a unique opportunity to network with over 350 delegates all under one roof.
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR East Africa marks its 11th annual conference in Nairobi, Kenya on 14-15 May 2020, where a cutting edge agenda will explore the key macroeconomic, geopolitical, financial market and tech trends shaping the East African trade finance landscape. This two-day conference provides GTR attendees with a unique opportunity to network with over 350 delegates all under one roof.
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
TXF Global 2020: Export, Agency & Project Finance, 3-5 June 2020. Madrid.
The global export, agency & project finance games return for 2020! Join TXF on 3-5 June in Madrid for the largest gathering of its kind with a vision to taking your network further than ever before.
With the CEOs of EKF, MIGA, US EXIM and more already in training for the Olympic games, along with 1000 of the industry’s key players, quite simply, this is the event you cannot afford to miss.
Packing the mightiest of punches, TXF Global will again combine keynote addresses from CEOs and state ministers outlining the future of industry, sustainability and digitisation, as well as infrastructure and project roadmaps. Mixed with detailed technical workshops, lively debate forums and regional roundtables TXF Global allows for an intimate networking environment like no other.
As a Credit Insurance News member, get an exclusive 15% off the standard ticket price using code: LETTHEGAMESBEGIN on the booking page.
Visit the website to find out more.
The global export, agency & project finance games return for 2020! Join TXF on 3-5 June in Madrid for the largest gathering of its kind with a vision to taking your network further than ever before.
With the CEOs of EKF, MIGA, US EXIM and more already in training for the Olympic games, along with 1000 of the industry’s key players, quite simply, this is the event you cannot afford to miss.
Packing the mightiest of punches, TXF Global will again combine keynote addresses from CEOs and state ministers outlining the future of industry, sustainability and digitisation, as well as infrastructure and project roadmaps. Mixed with detailed technical workshops, lively debate forums and regional roundtables TXF Global allows for an intimate networking environment like no other.
As a Credit Insurance News member, get an exclusive 15% off the standard ticket price using code: LETTHEGAMESBEGIN on the booking page.
Visit the website to find out more.
GTR US 2020, 17 June 2020. Chicago.
GTR US 2020 will return to Chicago for its fourth year on June 17, 2020, where US companies and their financing partners will meet to discuss the evolution of the trade, supply chain and working capital space. Featuring a host of expert speakers, the event will provide the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling those tasked with facilitating US commerce to form resilient, agile trade financing and risk management strategies. With leading corporates, banks, financiers, insurers and digitization specialists in attendance, this event is not to be missed for those looking to create crucial industry contacts and optimize their trade business.
GTR US 2020 will return to Chicago for its fourth year on June 17, 2020, where US companies and their financing partners will meet to discuss the evolution of the trade, supply chain and working capital space. Featuring a host of expert speakers, the event will provide the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling those tasked with facilitating US commerce to form resilient, agile trade financing and risk management strategies. With leading corporates, banks, financiers, insurers and digitization specialists in attendance, this event is not to be missed for those looking to create crucial industry contacts and optimize their trade business.
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Asia 2020, 8-9 September 2020. Singapore.
GTR Asia will return to Singapore from September 8-9 to host over 1,300 decision-makers and leaders from the global trade, export and fintech community. A leading global financial hub and home to a dynamic and thriving financial ecosystem, Singapore provides the perfect backdrop to explore the future of international trade and investment.
GTR Asia will return to Singapore from September 8-9 to host over 1,300 decision-makers and leaders from the global trade, export and fintech community. A leading global financial hub and home to a dynamic and thriving financial ecosystem, Singapore provides the perfect backdrop to explore the future of international trade and investment.
Offering a truly global perspective and tackling issues with a forward-looking outlook, GTR aim to create events for those passionate about issues that define the trade finance world. Hosted for over a decade, GTR Asia is recognised as the world’s largest international gathering for local and international organisations: from banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and many more.
Attendees will gain valuable business contacts and learn from the leading figures in the industry; Hear fresh and challenging perspectives from over 100 of the world’s leading trade, treasury and fintech experts; Enjoy innovative content designed to foster maximum engagement between speakers and delegates, bringing all parties involved in Asian trade together for a two-day focused conference and networking exhibition.
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
Commodities Trading Forum, 16 September 2020. Geneva.
Building on the success of 2019’s inaugural Geneva event and reflecting increased collaboration and partnership with the Swiss Trading & Shipping Association (STSA), GTR is delighted to announce that its newly expanded Commodities Trading Forum will be taking place at the Intercontinental Hotel Geneva on September 16, 2020. Co-hosted and held in partnership with both the STSA and PwC, and reflecting on Switzerland’s role as one for the world’s leading hubs for commodities from oil and gas to metals and agribusiness products, the conference will provide a comprehensive overview of the global commodities and commodity finance markets. Attendees will benefit from critical market insight and idea-sharing through a series of interactive and informative session formats, whilst unchallenged networking opportunities will provide access to over 200 different companies involved in the financing of global commodities.
Building on the success of 2019’s inaugural Geneva event and reflecting increased collaboration and partnership with the Swiss Trading & Shipping Association (STSA), GTR is delighted to announce that its newly expanded Commodities Trading Forum will be taking place at the Intercontinental Hotel Geneva on September 16, 2020. Co-hosted and held in partnership with both the STSA and PwC, and reflecting on Switzerland’s role as one for the world’s leading hubs for commodities from oil and gas to metals and agribusiness products, the conference will provide a comprehensive overview of the global commodities and commodity finance markets. Attendees will benefit from critical market insight and idea-sharing through a series of interactive and informative session formats, whilst unchallenged networking opportunities will provide access to over 200 different companies involved in the financing of global commodities.
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Nordics 2020, 12 November 2020. Stockholm.
After many consecutive years of attendance growth we are delighted to announce that GTR Nordics 2020 will take place on November 12, moving to the larger event space at the Radisson Blu Waterfront, Stockholm. While offering a more comfortable space to mingle, this also provides the opportunity to add some exciting new event features. GTR Nordics 2020 promises to be the biggest and best yet: Watch this space for more details as we move towards the conference date! Last year GTR Nordics returned to Stockholm and welcomed another record-breaking audience of over 500 trade finance experts, insurers, bankers, ECAs, technology innovators and corporates of all sizes.
After many consecutive years of attendance growth we are delighted to announce that GTR Nordics 2020 will take place on November 12, moving to the larger event space at the Radisson Blu Waterfront, Stockholm. While offering a more comfortable space to mingle, this also provides the opportunity to add some exciting new event features. GTR Nordics 2020 promises to be the biggest and best yet: Watch this space for more details as we move towards the conference date! Last year GTR Nordics returned to Stockholm and welcomed another record-breaking audience of over 500 trade finance experts, insurers, bankers, ECAs, technology innovators and corporates of all sizes.
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
About the Sponsor: Nimbla
Nimbla is on a mission to make trade credit insurance more accessible, flexible and affordable for small and medium-sized enterprises (SMEs) in the UK and abroad. We bring invoice insurance to an ever-growing number of companies with advanced technology that we've developed in-house, and through exciting new sales channels.
Our team has developed market-leading risk-modelling technology that improves the speed and the quality of risk decisions. Through this technology, we take the pain out of trade credit insurance. It enables our customers to protect their business against the risk of insolvent customers in a fast and affordable way.
Through our recently announced partnerships with Barclays and the Federation of Small Businesses (FSB), we have taken big steps in our mission to make trade credit insurance more accessible. The relationship managers of Barclays are now introducing Nimbla to their SME clients in several regions, and we will bring invoice insurance to their clients across the country later this year. The FSB is offering our product to their 160,000 members through their insurance platform.
This year, we’re working hard to improve invoice insurance further by making the product available to companies based abroad and to exporting companies based in the UK, starting with Ireland and The Netherlands. We’re also looking forward to providing a debt collection service free of charge to Nimbla customers and to offering a subscription-based invoice insurance product, a more flexible way for companies to insure their invoices automatically.
For more information about Nimbla and to get in touch with the team, please visit the website.
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