Welcome to the April 2023 issue of Credit Insurance News Digest.
This month's issue is sponsored by Markel.
Index
Credit Insurance News
Trade credit insurers "continue with a pragmatic position on both their risk and commercial strategies" with high levels of client retention.
Aon's latest Market Insights report for Q1 2023 notes that preliminary financial results of "the key" credit insurers indicate an overall top-line revenue growth of over 15%, reflecting both the significantly increased client trading activity post-pandemic as well as the inflationary environment. Although global insolvencies rose by +10% in 2022, leading to higher annual loss and combined ratios, these ratios are now returning towards the typical range whilst remaining below 2019. In addition, Aon finds that aggregate credit limit capacity from key trade credit insurance carriers is 20% higher than pre-pandemic as insurers' appetite and capacity have continued to increase. While this expansion of exposure may continue at a lower rate during 2023, Aon anticipates that there will be divergent sectoral and regional approaches.
To read Aon's report go to https://insights.aon.com/aons-credit-solutions-q1-2023-insights/.
Trade credit insurers' risk appetites are expected to tighten in 2023 but at a reduced pace.
The Berne Union's Business Confidence Survey for Q1 2023 has reported that demand for short-term export credit insurance remained buoyant throughout 2022. While this applied to both public and private insurers, it was particularly true of private insurers who saw high quarter-on-quarter growth in demand throughout the year. Much of the increase was reported by insurers in Europe, the Middle East & Africa. In comparison, insurers in Asia & Pacific saw a contraction in demand in Q4. The survey also found that until Q4 2022, changes in reported risk appetite for short-term cover were minimal, and the cautious outlook of private insurers with large exposures heavily drove the pessimistic outlook on risk in Q1 2023. While risk appetites are expected to tighten into 2023, this will likely be at a reduced pace.
To read the Berne Union's report go to https://www.berneunion.org/Articles/Details/750/Business-Confidence-Index-Q1-23-Published.
Unlocking the benefits of trade credit insurance to small businesses in the Philippines.
Back End News has published an article discussing the need for more knowledge about trade credit insurance in the Philippines. The article gives the example of Maureen Nova Ledesma, founder of Vesl Pte. Ltd, who became aware of the benefits of trade credit insurance while working in London. "How come I've never heard of these trade finance products back in the Philippines?" Ledesma asked herself, recognising that "it was an amazing product." She was even more baffled by the fact that her mother, who was also in the trading business, didn't know about trade credit insurance.
To read Back End News' article go to https://backendnews.net/unlocking-the-benefits-of-trade-credit-insurance-to-small-businesses/.
Trade credit insurer cuts cover for Asos suppliers. Drapers has reported that Atradius has reduced its cover for Asos' suppliers amid concerns
about its recent falling profits and the challenging trading environment. Drapers understands that the reduction happened a few weeks ago following Asos' latest financial results published in January.
Drapers notes that Industry sources have said "that credit insurers have become increasingly cautious about fashion retailers", with new suppliers finding it particularly hard to get insurance cover.
An Asos spokesperson commented: "Trade credit insurance cover remains a live issue for the wider industry." To read Drapers' article go to https://www.drapersonline.com/news/credit-insurer-cuts-cover-for-asos-suppliers.
Origin and AU Group announce a partnership. Origin, a trade credit insurance provider in India, and AU Group have announced a strategic partnership.
This will enable Origin to provide its customers with a broader range of insurance products and services, and AU Group will extend its geographical scope and service capabilities.
According to recent industry reports, the penetration of trade credit insurance in India is low, with less than 5% of Indian Corporates taking out such policies to mitigate their trade risks — domestic and exports.
The partnership between Origin and AU Group aims to raise awareness about the importance of trade credit insurance and Political Risk and expand such products' availability to Indian corporates.
To read AU Group's news release go to https://www.au-group.com/press-release-origin-and-au-group-announce-their-partnership/.
PIB acquires a book of business from Trade Credit Insurance Consultants.
PIB Group Ltd has announced that it has acquired a book of business from Trade
Credit Insurance Consultants (TCIC). The book of business will be managed by the existing Trade Credit division within PIB
Insurance Brokers, which is part of PIB Group. Ken Smith, owner of TCIC, will remain with the
business and join PIB to ensure continuity for the clients involved.
Tom Danson, Managing Director of Trade Credit at PIB, commented, "This acquisition is a strategic move that will help
us develop our offering and enhance our ability to support our clients in managing their credit
risks."
PIB noted that the acquisition of this book of business is part of PIB's ongoing strategy to expand its trade
credit presence. To read PIB's news release go to https://www.pib-insurance.com/news/trade-credit-acquisition.
Global insolvencies will increase sharply as normality returns. Atradius has warned that it expects insolvencies to increase by 49% globally in 2023, driven by continued normalisation after the pandemic and the bankruptcy of zombie firms.
Rising insolvencies are anticipated across all regions, with North America experiencing a relatively strong increase while Europe sees a milder upturn.
Increases in business failures in South Korea (154%), Italy (90%), Hong Kong (83%), New Zealand (82%), the Netherlands (79%) and the US (74%) are expected to be particularly notable.
In 2024, the picture is more mixed, with global insolvencies forecast to rise by 12% compared to 2023 and relatively high insolvency increases in New Zealand (62%), South Korea (35%) and Singapore (30%). To read Atradius' news release go to https://group.atradius.com/publications/economic-research/insolvencies-increase-sharply-as-normality-returns.html.
Allianz Trade in Asia Pacific announces its first B2B e-commerce partnership.
Allianz Trade in Asia Pacific has announced a venture with Singapore-based B2B Buy-Now-Pay-Later (BNPL) player Bueno.money, enabling Bueno.money to offer a deferred payment solution to e-merchants in real-time with credit risks protected. Once an online shopper visits the e-merchant's website, a pop-up will appear to offer a 60-day interest-free credit line application with an approval process that takes no longer than 30 seconds. Once approved, the shopper will be free to shop within the credit line and pay later, while the e-merchant will receive payment upfront from Bueno.money with credit risks underwritten by Allianz Trade. Allianz Trade notes that the global B2B e-commerce market is already six times larger than that of B2C, and in Asia Pacific is projected to grow at a compound annual growth rate of 22% until 2030.
For more information see Allianz Trade's news release at https://www.allianz-trade.com/en_global/news-insights/news/allianz-trade-in-asia-pacific-inks-first-b2b-e-commerce-partners.html.
Global insolvencies look set to rise by +21% in 2023 and +4% in 2024.
Allianz Trade's latest Global Insolvency Report predicts that after a small rebound in 2022 (+2%), the global rebound in business insolvencies is set to jump by +21% in 2023 and +4% in 2024.
Half of the countries analysed are likely to exceed their pre-pandemic levels of insolvencies in 2023, and three out of five in 2024.
Maxime Lemerle, Lead Analyst for
Insolvency Research at Allianz Trade, commented: "Inside Europe, we expect the number of insolvencies to reach 59,000 in France in 2023 (+41% y/y), 28,500 in the UK (+16%), 17,800 in Germany (+22%)
and 8,900 in Italy (+24%). In the US, we expect an increase of +49% in 2023 as a result of tighter credit conditions and an expected sharp economic slowdown,
which would mean a return to 20,000+ insolvencies per year. In Asia, China should see a moderate increase (+4%)."
To read Allianz Trade's news release, with a link to the full report, go to https://www.allianz-trade.com/en_global/news-insights/news/allianz-trade-insolvency-report.html.
Mind the gap: The role of trade credit insurance in facilitating trade finance.
Marsh has published an article that notes the "huge gap" (estimated to be between USD$2-30 trillion) between what lenders are prepared to provide and what businesses (especially SMEs) need, and discusses the "critical" role of trade credit
insurance if non-banking entities offering alternative types of capital are to close the gap. Marcus Miller, Managing Director, Global Lenders Solutions Group Leader — Credit Specialties at
Marsh, noted that trade finance is inherently low-risk, evidenced by global default rates across all trade finance asset classes declining in 2021 compared to 2020. He commented that the trade finance gap is growing,
but with help and support from the trade credit insurance industry and other financial institutions, "we can help close the gap."
To read Marsh's article go to https://www.marsh.com/uk/services/structured-credit/insights/mind-the-gap-the-role-of-credit-insurance-in-facilitating-trade-finance.html.
Allianz Trade in Canada celebrates 100 years and reflects on how trade credit insurance has evolved. Business Insurance has reported that Allianz Trade in Canada is celebrating its 100th anniversary in 2023. Looking at how credit insurance in Canada has changed over the last 100 years,
CEO David Dienesch noted that the industry has changed in three ways: speed of underwriting, global expertise, and diversity. However, he stressed that he believes that there's still more education needed about the
benefits of trade credit insurance: "We've been around for all that time, but [trade credit insurance] still isn't something as well-known as it should be. The market penetration in this country isn't as robust as in Europe."
He added: "One of the things that people forget is that trade credit insurance adds stability to the marketplace. . . We're the grease that keeps credit flowing, that keeps products flowing throughout the globe."
To read Business Insurance's article go to https://www.insurancebusinessmag.com/ca/news/breaking-news/allianz-trade-in-canada-celebrates-100-years-442181.aspx.
Atradius warns that the global economy is on the edge of recession.
Atradius has published its annual results for 2022 and forecasts that global growth will falter in 2023 as the global economy teeters on the edge of a recession in the first half of the year.
Atradius cautions that this picture is especially true for advanced economies, with a 0.2% growth forecast overall and even a mild recession forecast in the Eurozone, US and UK. However, the outlook for emerging economies is more upbeat —
with 2.9% growth predicted overall, and some markets such as China and India forecast to perform better. In 2023, insolvencies in most markets will adjust to normal, pre-pandemic levels.
To read Atradius' news release go to https://group.atradius.com/press-release/atradius-annual-results-2022.html.
Is the global outlook improving or deteriorating?
Coface's economist, Jonathan Steenberg, has published an article discussing the global economic outlook. Jonathan explains that although the economic outlook seems brighter than the second half of 2022, the fundamentals for companies remain troublesome with demand falling, and the general economic picture in the large economies (with the exception of India) looks set to be one of stagflation in 2023. While the UK economy avoided recession in 2022, he notes there's little doubt the UK will experience a downturn in 2023. Coface anticipates that corporate insolvencies will rise across the board; however, the challenges will be most acute within construction, metals, and other pro-cyclical and energy-intensive industries.
To read the article go to https://cofaceitfirst.co.uk/panorama-overview-of-the-economy/.
UK food supply chain late or failed payment claims up 79% as the sector faces 'quadruple threat'. Atradius has reported that it saw a 79% increase in claims for late and failed payments in the food sector last year.
Agriculture supply chains were particularly heavily impacted, with a 119% rise in claims in 2022. For 2023, Atradius warns that the 'quadruple threat' of rising prices, the ongoing fallout from Brexit and the pandemic,
and bad weather could see insolvencies soar in the sector. Georgios Panzaris, Senior Underwriter at Atradius, commented: "Companies that have traditionally operated on thin margins will be particularly vulnerable
to volatile market conditions, but even the biggest players are being tested."
Atradius advises that it continues to underwrite agri-food firms on a case-by-case basis. Click here to read Atradius' news release.
£10 billion boost to UK Export Finance support.
UK Export Finance has been granted an extra £10 billion of capacity to drive more UK exports, raising its maximum exposure limit from £50 billion to £60 billion. In 2021-22, UKEF provided £7.4 billion in financing to exporters of all sizes.
UK Export Finance has also advised that his new capacity will help build on the £7 billion of support UKEF has provided for sustainable projects since 2019.
UKEF CEO Tim Reid said: "This is fantastic news for the UK companies that we are here to support. It means we can help more British businesses export and will enable us to support more jobs and help to fuel growth."
To read EKEF's news release go to https://www.gov.uk/government/news/british-businesses-set-to-benefit-from-10-billion-boost-to-uk-export-finance-support.
The credit and political risk insurance market (CPRI) remains resilient with record capacity.
Reinsurance News has reported that a survey by WTW has found that the credit and political risk insurance market (CPRI)
remains resilient with record capacity amidst global political and economic uncertainty. Fifty-eight insurers across Lloyd's and company markets participated in the survey titled: The Credit and Political Risk Insurance Capacity
Survey and Market Update, which concluded that the CPRI market currently has access to more capacity than ever before, with notional maximum capacity increasing across the board, demonstrating "its resilience and depth."
To read Reinsurance News' article go to https://www.reinsurancene.ws/increase-in-capacity-within-the-cpri-market-denotes-its-stability-wtws-coffin/.
Webcast. Is Trade Credit Insurance protection a friend or foe? The Chartered Institute of Credit Management (CICM) recently held a webcast in which Andrew Moylan, CEO of EFCIS, provided an overview of trade credit insurance and its evolution and discussed whether trade credit insurance protection is "a friend or foe?" Andy stressed that contrary to common belief, credit insurance cover is available for large companies, SMEs and high-risk businesses, and around 96% of claims are paid. He also advised that now is a good time to take a fresh look at insurance "as we move from the non-normal trading conditions created by the pandemic, the zombie economy, considerable additional business government support, reduced sales, and the focus on survival." He concluded that: "used properly, insurance could unlock available working capital to support increased sales growth." To read CICM's news release, with a link to the webcast, go to https://www.cicm.com/ceoblog/is-trade-credit-insurance-protection-a-friend-or-foe/.
Video. Driving innovation to bolster resilience in the trade credit insurance market.
Trade Finance Global's (TFG) Deepesh Patel spoke with Marc Meyer, SVP subject matter expert at Tinubu, at ExCred International's London conference about how the trade credit industry is building further resilience. Marc Meyer notes that to adapt to the current volatile times, the trade credit insurance industry has slowly embraced digitisation, and Tinubu has also moved to help new entrants into the market. However, trade credit insurance is an old, long-standing industry, and many of the mechanics behind the offerings have not changed, "What has changed is all the techniques and tools around the portals, the communication with the customer, with the broker and the automation of the processes." However, this is a challenging transition, and sector-wide adoption has numerous problems.
To read TFG's article go to https://www.tradefinanceglobal.com/posts/driving-innovation-bolster-resilience-trade-credit-insurance-market/.
Webinar: Underwriting Trade Credit Insurance in the Economic Environment 2023.
Schumann and Company Watch recently co-hosted a networking event in London in which
attendees from surety, trade credit insurance, banking and financial institutions shared insights into the opportunities and challenges of the trade credit market and for credit risk management this year.
An interview is now available in which Craig Evans, CEO of Company Watch, discusses his predictions for trade in the UK and Ireland in 2023, along with the core challenges he sees for credit risk management.
To watch the video go to https://blog.companywatch.net/resources/credit-insurance-and-credit-risk-management-in-2023.
Tokio Marine HCC International (TMHCCI) and Company Watch announce a three-year partnership.
TMHCC has announced a three-year partnership with Company Watch as the core provider of their UK data and other services.
The trade credit underwriting team at TMHCC will benefit from receiving the data from the Company Watch API as well as having portal access to the Company Watch Angelia risk management platform, along with forecasting and risk modeling tools.
Company Watch has recently been acquired by Volaris, and Craig Evans (formerly Graydon) has been appointed as CEO.
Jane Hull, Underwriting Director Credit at TMHCC and Chartered Quantity Surveyor, commented: "We're extremely excited about this relationship and the potential this offers us to enhance our underwriting performance."
For more information go to https://www.companywatch.net/ & https://www.tmhcc.com/en-us/.
Congratulations to . . .
Silvia Gualda, Global Contract Manager for Multinational NEUR at Allianz Trade UK & Ireland, on having just passed her 36th anniversary with the company.
Silvia Gualda, Global Contract Manager for Multinational NEUR at Allianz Trade UK & Ireland, on having just passed her 36th anniversary with the company.
Clive Hall-Strutt, Commercial Underwriter at Euler Hermes UK & Ireland, on the 43rd anniversary of his employment with Allianz Trade.
Atradius has been awarded the IBS Intelligence Global Fintech Innovation award for 'Best Risk Management Implementation' using Temenos' Explainable AI to reduce risk and improve the customer experience.
Coface Germany, which has just celebrated its 100th birthday!
The company was founded in March 1923 in Mainz as the Rheinische Garantiebank Kautionsversicherungs-AG on the initiative of Isaac Fulda, a local banker.
New Appointments
Atradius Collections has made two promotions:
- Michael Weir has been promoted to Strategic Global Team Solutions Consultant, part of the global strategic team. Michael is based in Cardiff and was formerly Atradius Collections' Regional Sales Leader.
- Oliver Post has been promoted to Senior Special Products Underwriter for the Netherlands, Belgium and Nordics. Oliver was previously Senior Sales Manager for Atradius Deutschland.
Attis Credit Solutions has appointed Scott Liddle as Client Director. Scott joins from Aon, where he was Client Director — Energy. Prior to that, Scott worked for
Acumen Credit Insurance Brokers Ltd and
Tokio Marine HCC.
Cartan has appointed Matthew Wells as Head of Uk & Ireland — Cartan Trade. Matthew joins Catan from Allianz Trade, where he has held various positions in the last 22 years, most recently as Regional Commercial Director
and MMCD Director — Asia Pacific.
Coface has made several new promotions.
- Benoit Urbin has been promoted to Coface's new Country Manager for UK and Ireland. Benoit will replace Frederic Bourgeois, who has decided to continue his career away from Coface. Benoit has spent nearly ten years at Coface in various senior positions, most recently as Chief Operating Officer in North America.
- Grishma Kewada has been promoted to Country Manager for Singapore, reporting to Graham Crozier, CEO of Coface South East Asia & India. Since joining Coface in 2019, Grishma has worked for Coface as Regional Head of Commercial Operations and as Regional Head of Risk Management.
- Guillaume Ogier has been promoted to the position of Head of Single Risk UK & Ireland. Guillaume has worked for Coface for eight years, most recently as a Political Risk Underwriter.
- Christine von Berg has been promoted to Head of Economic Research BeNeLux & DACH. Christine has worked for Coface for just over four years and was previously Head of Economic Research Northern Europe & Belgium. She is based in Mainz, Germany.
Gallagher has appointed Richard Welbourne as Business Development Manager. Richard joined Gallagher from Avenue Partners, where he was Regional Sales Director — Food and drink lead.
Richard started his career in 2014 as a Business Development Executive at The Channel Partnership.
PIB Insurance Brokers has appointed Simon Wheeler as a Credit Insurance Broker. Simon joined PIB from Xenia Broking, where he was
Credit Insurance and Bond broker.
Tokio Marine HCC International has strengthened its UK Trade Credit division with the hire of two Senior Risk Underwriters, Karen Crowley and Arwel Roberts. Karen Crowley joins from Atradius,
where she worked as a Senior Key Account Underwriter. Arwel joins Tokio Marine HCC from Coface, where he was a Senior Risk Underwriting Manager.
WTW has appointed Donnie DiCarlo as Senior Director, based in New York. Donnie joined WTW from BPL Global, where he was Director and Executive Vice President.
Career Opportunities
Assistant Commercial Underwriter.
Hybrid working: 2 days working from home, 3 days in the office (parking on-site). Leicester.
Contract: Permanent, 35 hours per week
Hybrid working: 2 days working from home, 3 days in the office (parking on-site). Leicester.
Contract: Permanent, 35 hours per week
Why Tokio Marine HCC?
Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.
Job Purpose:
In this position, working within our friendly and relaxed Customer Relations team, you will be providing support to the Commercial Underwriting team by giving advice regarding technical queries and credit limit queries to brokers and clients and through providing administration support. You will be able to handle the day to day challenges of dealing with brokers, a wide variety of clients from all sectors of industry and with all different levels of people. Being a team player who can also work on your own initiative, excellent communication skills both telephone and by email and top quality organisation skills will ensure your success in this role. The first 6 months of the role will see you learning and understanding the products we sell, becoming familiar with our systems and processes and building relationships with Commercial Underwriters, clients and brokers. Within the first 12 months, you will be independently managing most of your workload and solving most problems that arise with the minimum of supervision.
Key Responsibilities:
Skills and Experience Specification:
Essential:
The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals.
Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.
Job Purpose:
In this position, working within our friendly and relaxed Customer Relations team, you will be providing support to the Commercial Underwriting team by giving advice regarding technical queries and credit limit queries to brokers and clients and through providing administration support. You will be able to handle the day to day challenges of dealing with brokers, a wide variety of clients from all sectors of industry and with all different levels of people. Being a team player who can also work on your own initiative, excellent communication skills both telephone and by email and top quality organisation skills will ensure your success in this role. The first 6 months of the role will see you learning and understanding the products we sell, becoming familiar with our systems and processes and building relationships with Commercial Underwriters, clients and brokers. Within the first 12 months, you will be independently managing most of your workload and solving most problems that arise with the minimum of supervision.
Key Responsibilities:
- Providing advice in respect of policy technical queries to clients and brokers to support the Commercial Underwriters
- Resolving day to day policy and credit limit issues promptly
- Assisting with portal queries and providing training to clients
- Liaising with Commercial Underwriters to arrange meetings
- Chasing non return of Inception and Renewal documentation
- Ensuring the issue of policy documentation and associated paperwork and the ongoing maintenance of the policy files
- Issuing policy endorsements upon instruction, within authorisation levels
- Managing the declaration of turnover process
- Liaising with Finance, clients and brokers when DD’s are cancelled or for non payment issues
- Handling the department’s incoming telephone calls and emails
- Input and retrieval of data on the company’s bespoke system
- Scanning documents into ImageRight
- Assisting with the training of new team members
- Maintaining databases and spreadsheet records
- Other reasonable duties as requested by manager
- Office based in Rearsby, Leicester with occasional visits to clients or other offices when required by the business
- Liaising with Risk Underwriting, Sales and Claims Departments and other departments
- Assisting with departmental specification for IT developments including assisting with testing.
Skills and Experience Specification:
Essential:
- Minimum 5 GCSEs grades A to C or equivalent
- Passion, drive and initiative
- Good IT skills including data input, Microsoft Word, Excel and Outlook
- Ability to understand policy related mathematical calculations
- Attention to detail
- Excellent customer service and telephone skills
- Strong organisation skills
- Team player
- A Level / BTEC qualifications
- Previous experience in an office environment
- Good problem solver
The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals.
The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.
To apply, please go to https://jobs.jobvite.com/tmhcc/job/oxfWmfwO.Events & Professional Development
Receivables Finance International Convention 2023, 23-24 May. London.
22 May Awards Dinner.
The 23rd annual Receivables Finance International Convention (RFIx23) is the industry’s leading event, attracting delegates from across the globe; bringing together market leaders and new entrants; providing an essential update on the latest invoice financing trends, market challenges, and financial innovation; as well as excellent networking opportunities.
22 May Awards Dinner.
The 23rd annual Receivables Finance International Convention (RFIx23) is the industry’s leading event, attracting delegates from across the globe; bringing together market leaders and new entrants; providing an essential update on the latest invoice financing trends, market challenges, and financial innovation; as well as excellent networking opportunities.
Keynote presentations and panel sessions include:
- The outlook for global trade and its impact on trade finance.
Marc Auboin, Economic Counsellor, Economic Research and Statistics Division, World Trade Organization. - Global zombies – an alternative type of corporate resiliency.
Professor Edward I. Altman, Director of Research, Credit and Debt Markets, NYU Salomon Center for the Study of Financial Institutions. - Panel session: Market development and business model evolution.
Moderator: Steve Box, Founder and Managing Director, Kata Executive Consulting. Panellists: James Binns, Managing Director, Global Head of Trade & Working Capital, Barclays; Mencia Bobo, Global Head Trade and Working Capital Solutions, Santander Corporate & Investment Banking; Parvaiz Dalal, Managing Director, Global Head of Payables Finance, Treasury and Trade Solutions, Citi; Ian Duffy, Founder and CEO, Accelerated Payments. - Panel session: Regulation and digitalisation – opportunities and challenges.
Moderator: André Casterman, Managing Director, Casterman Advisory; Chair of Fintech Committee, ITFA Panellists: Jon Boran, Director, Trade Innovation & Solution Development, Lloyds Bank; Jonathan Williams, Head of Transactional Legal; Demica Markus Wohlgeschaffen, Managing Director, Traxpay; Geoffrey Wynne, Partner, Sullivan & Worcester. - Fireside chat: Greensill Capital – the story behind the billion-dollar scandal.
Duncan Mavin, Editor and Columnist, The Washington Post; Author, The Pyramid of Lies: Lex Greensill and the Billion-Dollar Scandal. Interviewed by: Federico Travella, Founder & Executive Chairman, Novicap
TXF Global 2023: Export, Agency & Project Finance, 15-16 June. Lisbon, Portugal.
TXF Global 2023 returns to Lisbon for a very special 10 Year Anniversary edition!
Your largest export, agency & project finance event is returning to Lisbon for the second year running! We bring you this innovative, unique and ultimate networking gathering which is absolutely crucial if you work in this industry.
Let the festival commence! Expect:
For more information go to https://www.txfnews.com/events/266/TXF-Global-2023-Export-Agency-Project-Finance.
TXF Global 2023 returns to Lisbon for a very special 10 Year Anniversary edition!
Your largest export, agency & project finance event is returning to Lisbon for the second year running! We bring you this innovative, unique and ultimate networking gathering which is absolutely crucial if you work in this industry.
Let the festival commence! Expect:
- Exclusive networking activities from the hugely popular Lisbon walking tour, to ice-breaker drinks & cocktail reception
- ECA & DFI CEO hot seat: 1-1 fireside leadership interviews
- Corporate CEO keynote: Navigating economic turmoil to enable a greener future
- Tomorrow’s borrowers: The investment landscape & project pipeline
- Dedicated Uxolo Development & Impact Finance content stream
- TXF at 10: Legendary panelists from TXF Paris 2013 return to the stage to review the last 10 years of export finance and plot what this means for the next 10 years
- Delegate list of all those on-site so you can arrange meetings in advance + 1-to-1 dedicated meeting spaces, and separately bookable meeting rooms
- Even more time and space to network, attend private meetings and take part in intimate roundtables
- TXF Subscriber Exclusive: Watch all sessions on-demand, or enjoy the full event virtual-only from the comfort of your office chair!
For more information go to https://www.txfnews.com/events/266/TXF-Global-2023-Export-Agency-Project-Finance.
Professional Development
STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range of
webinars and classroom training courses.
Classroom training courses are organised once or twice per year or on demand while webinars are organised multiple times per year or on demand for groups of participants. For 2023 the following courses are scheduled)*.
** Possibility to register ends on the 16th of April 2023.
*** Registration is open until 1st of September 2023.
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include the lunches and a dinner at the end of the first training day.
The courses are hosted by very experienced experts from the industry and there is enough opportunity for asking questions, discussions and networking.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Details information about the webinar and classroom training courses are available on the Stecis’ website: www.stecis.org also further information can can be obtained by sending an e-mail to info@stecis.org.
Classroom training courses are organised once or twice per year or on demand while webinars are organised multiple times per year or on demand for groups of participants. For 2023 the following courses are scheduled)*.
- 14 June: Fundamentals of Trade Credit Insurance (Webinar)
- 26 & 27 September: the Trade Credit Insurance Foundation Course**
- 28 & 29 September: the Advanced Trade Credit Insurance Course**
- 15 June 2023: Masterclass TCI – Buy now, Pay later (Webinar)
- 10 & 11 October: the Surety Foundation Course***
- 12 & 13 October: the Surety Advanced Course***
** Possibility to register ends on the 16th of April 2023.
*** Registration is open until 1st of September 2023.
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include the lunches and a dinner at the end of the first training day.
The courses are hosted by very experienced experts from the industry and there is enough opportunity for asking questions, discussions and networking.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Details information about the webinar and classroom training courses are available on the Stecis’ website: www.stecis.org also further information can can be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: Markel
Credit is vital to the commercial world. Markel’s global solutions promote trade by ensuring that
buyers and sellers can do business with confidence. We offer a wealth of experience in trade
credit, political risk and surety covers, to control counterparty payment default, expropriation,
confiscation and performance risks.
Markel's team offers expert knowledge of commercial counterparty and sovereign covers across a wide spectrum of trade sectors. The key benefits for clients include security of non-cancellable credit and country limits, balance sheet and cash flow protection, improved terms for bank financing facilities, effective alternatives to letters of credit or other types of collateral, reduced need for bad debt reserves, fulfilment of capital adequacy requirements, increased potential for sales growth and security of performance obligations — all because the risks are hedged and secured on a firm foundation.
The team has extensive experience of providing global solutions for clients, but can also tailor policies for specific credit risks, markets and contingencies. As a result of the complexity of our clients’ risks spanning political, cultural, legal and social differences, it is crucial to choose an insurer who understands all of the facets of international and domestic trade, combined with a detailed understanding of available solutions across a variety of contexts and geographies.
Markel's team offers expert knowledge of commercial counterparty and sovereign covers across a wide spectrum of trade sectors. The key benefits for clients include security of non-cancellable credit and country limits, balance sheet and cash flow protection, improved terms for bank financing facilities, effective alternatives to letters of credit or other types of collateral, reduced need for bad debt reserves, fulfilment of capital adequacy requirements, increased potential for sales growth and security of performance obligations — all because the risks are hedged and secured on a firm foundation.
The team has extensive experience of providing global solutions for clients, but can also tailor policies for specific credit risks, markets and contingencies. As a result of the complexity of our clients’ risks spanning political, cultural, legal and social differences, it is crucial to choose an insurer who understands all of the facets of international and domestic trade, combined with a detailed understanding of available solutions across a variety of contexts and geographies.
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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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