Welcome to May's issue of Credit Insurance News Digest, the industry newsletter devoted to the global trade credit insurance industry. This issue is sponsored by Tinubu Square.
Index
PLUS: 'Don’t get left behind in the insurance digital transformation race' by Michael Feldwick, Head of UK & Ireland at Tinubu Square.
Credit Insurance News
Berne Union members report that rising claims are supported by new business underwritten. Following its recent meeting in Singapore, the Berne Union has advised that in 2018 its members supported a record US$2.5 trillion of trade and investment. This equates to 13% of total cross-border merchandise trade - 7% more than in 2017 (and the largest overall increase since 2011). US$2,237 billion relates specifically to short term trade credit cover. Berne Union members also noted that total indemnifications in 2018 rose by 3% to US$ 6.4 billion in 2018, which is 17% higher than the peak of claims paid in 2009 and 75% higher than the yearly average for the previous decade. Berne Union President, Beatriz Reguero, commented: “the level of claims Berne Union members are reporting is historically high but supported by the increasing volume of new business underwritten." To read the Berne Union's news release go to http://cdn.berneunion.org/assets/Images/Berne%20Union%20Singapore%20SM%20Press%20Release.pdf.
Trade credit insurers "generally remain in the media as the villains." Willis Towers Watson's latest publication, 'Marketplace Realities' notes that trade credit insurers are currently taking a tougher negotiating stance during renewal and new business discussions, with insurers in riskier sectors actively scaling back in risk. The report also reports a strengthening of prices (+5-+10% in some sectors) although capacity remains good, while insurers are also prepared to explore ways of achieving improved terms which are not exclusively through premium rate. Sadly, in a return to the negative publicity the industry received a few years ago, although many insurers continue to support key suppliers, Willis Towers Watson also finds that trade credit insurers have been labelled by the media as villains due to some insurers proactively managing risk by cutting back supplier credit insurance on distressed retailers. To read Willis Towers Watson's report go to https://www.willistowerswatson.com/en/insights/2019/04/marketplace-realities-report-2019-gb-edition.
A bad Brexit could lead to more trade credit insurance claims and higher premiums. Actuarial Post has reported that 66% of UK insurance professionals believe that a bad Brexit will lead to rising commercial insurance premiums as a result of more claims being made. The research, conducted by Premium Credit, also warned that a bad Brexit could also lead to more UK companies going bust, with research finding that 23% of insurance professionals believe strongly that this would lead to an increase in the cost of trade credit insurance and 45% believing that this would ‘probably’ happen. To read Actuarial Post's article go to https://www.actuarialpost.co.uk/article/a-bad-brexit-could-lead-to-more-claims-and-higher-premiums-15746.htm.
New online digital marketplace for trade credit insurance. GTR (Global Trade Review) has reported that a new digital, online marketplace for trade credit insurance has been launched in the US which enables financiers and corporates to request insurance with multiple underwriters. LiquidX has been working with Marsh, Euler Hermes and Atradius to build the platform, with another two to four carriers anticipated to join by the end of the year. Explaining the current “broken, inefficient and manual" system which the new product aims to address, Glenn Kocher, Managing Director at LiquidX, commented to GTR: “Today the process for the insured is expensive and opaque – you pick up the phone, call your broker, your broker goes out and talks to a bunch of underwriters, comes back with a bunch of quotes, and you have to try to figure out, how do you compare between them?" Initially, the platform will offer non-payment coverage but will eventually expand into other types of insurance, including political risk, contract frustration and structured credit product. To read GTR's article go to https://www.gtreview.com/news/fintech/liquidx-and-marsh-launch-e-marketplace-for-trade-credit-insurance/.
To stay ahead in the trade credit insurance market, providers will have to embrace emerging technologies. In an interview with Credit Insurance News Digest, Michael Feldwick of Tinubu Square warns that against the backdrop of a changing risk landscape, standard trade credit insurance products are no longer always fit for purpose. Newer entrants to the market and some established insurance companies are now using technology that is helping them deliver a tailor-made, customer-centric, response to their policyholders - vital after five years of soft pricing and a slowdown in credit insurance growth. He notes: "Those already engaged in digital transformation will be winners in 2019, but any insurer that is still vacillating, or making only cosmetic changes, will find it increasingly difficult to compete. The industry is moving on." Click here to read the interview.
New InfolinkGazette research demonstrates the vulnerability of unsecured creditors and the value of trade credit insurance. Three recent examples noted by InfolinkGazette highlight the vulnerability of unsecured creditors operating without trade credit insurance. British Ceramic Tiles' secured creditors, for example, were owed over £30 million, leaving just the Prescribed Part (£600,000) for distribution to unsecured creditors. Similarly, Utilitywise PLC left behind substantial debts with 162 unsecured creditors owed over £26 million, while 420 unsecured creditors of Arjo Wiggins lost over £14 million. Greg Connell, Managing Director of InfolinkGazette, commented: "the fortunate few with credit insurance cover can expect to cover 90% of their losses; those unsecured creditors supplying without credit insurance cover will only receive their share of the £600,000 maximum Prescribed Part." To read InfolinkGazette's news release go to https://www.infolinkgazette.co.uk/?pid=6.
Self-insurance, trade credit insurance and factoring services – what’s best for business? Elitebusiness has published an article (provided by Coface) which explains why having a top credit management strategy - whether it’s self-insurance or credit insurance - is vital for businesses to grow in today's economy. The article notes some of the disadvantages offered by self-insurance, letters of credit or factoring and the advantages that trade credit insurance can provide, such as late payment information to avoid risky business and facilitating better borrowing terms from finance providers and investors. To read Elitebusinesses' article go to http://elitebusinessmagazine.co.uk/finance/item/self-insurance-credit-insurance-and-factoring-services-what-s-best-for-business-sponsored-feature.
2018 sees a substantial decrease in the growth rate of Russia's trade credit insurance industry. Astreos Credit has published its latest 2019 Country Focus on Russia which notes that in 2018 Russia saw a substantial slowing in the trade credit insurance industry growth rate - to 5.7% from 20.9% a year earlier. According to Astreos Credit, however, one notable exception which has both significantly increased its business in Russia (by almost 19%) and also entrenched itself as the market leader by some margin was Atradius. In terms of Russian marketshare, Credendo Ingosstrakh follows in second position with Euler Hermes closely behind in third position. To read Astreos-Credit's Country Focus go to https://www.astreos-credit.com/2019-country-focus-russia/.
NCI Australia reports a 15% increase in collections cases in Q1 2019. Latest research from NCI (National Credit Insurance (Brokers) Pty Ltd) has noted that compared to Q1 2018, the first quarter of 2019 saw a 5% reduction in the number of claims they received. However, the number of debts placed for collection increased by a notable 15%. The research also found that the total value of claims stood at AU$27.8 million with an average claim value of over AU$105,000, with the largest increases in the Electronics, Building and Construction and Electricals sectors. Notable Australian business failures in Q1 included: Lempriere Grain Pty Ltd, All Commodities Pty Ltd Queensland One Homes Pty Ltd, RCR Tomlinson Ltd and 2nds World. To see an infographic displaying the latest data go to https://nci.com.au/wp-content/uploads/2019/04/q1-2019-nci-trade-credit-risk-index-1.pdf.
Transparency is key to protecting the retail supply chain. Atradius' latest Market Monitor highlights the importance of real-time information and close-working relationships with retailers as imperative to credit risk analysis. The advice comes as Atradius' economists report that a total of 2,600 shops and stores become insolvent in 2018 compared to 1,400 closures in 2017. Looking ahead, Atradius forecasts a further increase in retail insolvencies of 5% this year alongside a deeper deterioration in profits. Regarding the role of credit insurance in the current environment, Simon Rockett, Head of Underwriting for Atradius UK, commented: “Traditionally, trade credit insurance was seen as a buffer to non-payment – paying out claims should a customer not be paid. However, we are increasingly being relied upon as a true trade partner to business by identifying opportunities for growth and navigating risk which makes trade credit insurance essential in today’s trading environment.” Click here to read Atradius' news release.
The convergence of trade finance and trade credit insurance. Pymnts has published an article in which Glenn Kocher, Managing Director of Liquidx, examines the convergence of trade finance and trade credit insurance and notes how trade credit insurance can be a valuable tool for banks as part of the broader underwriting and risk mitigation process - particularly as regulations impose stricter rules on banks’ balance sheets. In addition, Mr Kocher describes how the emergence of alternative and non-bank lenders has opened doors for new players, many of whom may lack the infrastructure to mitigate risk at the same level as a multinational bank, and for whom access to trade credit insurance is key to addressing specific repayment risks to which they are exposed - "a sort of outsourcing of the underwriting process." To read Pymnts article go to https://www.pymnts.com/news/b2b-payments/2019/liquidx-global-trade-credit-finance-insurance/.
Business insolvencies are expected to increase in 26 out of the 39 countries analysed by Coface. In a new publication, Coface notes that the end of the most extended industrial boom in the last thirty years in the Eurozone has negatively impacted the first quarter of 2019. Global trade is slowing (2.3% forecast by Coface, against 3% in 2018), global GDP growth is expected to be the lowest since 2016 (forecast of +2.9%, down 0.3% from 2018), and companies are now much less confident. As a corollary, Coface adds that business insolvencies are expected to increase in 26 out of the 39 countries analysed - compared to only 19 in 2018. European companies are the weakest, with Coface predicting a 3% increase in insolvencies in Western Europe and 4% in Central and Eastern Europe. To read Coface's news release go to https://www.coface.com/News-Publications/News/The-turnaround-in-the-industrial-cycle-hits-companies-in-the-chemicals-sector-in-Europe-and-North-America.
Credendo-backed tech startup Marjory goes live. GTR (Global Trade Review) has reported that the first initiative by Area42, an innovation lab backed by Credendo, is now live. Marjory, a tech startup which enables service providers such as insurers and fintechs to integrate into marketplace operator systems, has launched in a private beta. Speaking to GTR, Christophe Spoerry, who leads Area42, explained: “When I was at the Euler Hermes Digital Agency we were invited to many marketplaces at a very late stage of development, and this made credit insurance integration extremely hard because the model had already been created." He continued: “Once we solve this core process issue then we can bring in a catalogue of service partners and integrate financing, KYC, AML, and of course credit insurance.” To read GTR's article go to https://www.gtreview.com/news/fintech/credendo-backed-tech-startup-marjory-goes-live/.
The US, Canada and Mexico in 2019. Atradius has published a new report examining the North American markets of the US, Canada and Mexico which notes that both the US and Canada are likely to see GDP momentum in 2019. For the US, Atradius predicts that the economy will grow by 2.5% in 2019, although it stresses that trade policy uncertainty could accelerate a downturn more quickly than expected. Canadian GDP is forecast to grow below 2% in 2019, but Atradius notes that it should still experience positive momentum and insolvencies - although not expected to decrease at levels seen in 2016/7 - will continue to level-off. Lastly, despite increased economic policy and political uncertainty, Atradius notes that Mexico seems to be fairly resilient and any steep deterioration of the economy currently remains unlikely. Click here to read Atradius' news release.
China set to replace the US as the main source of global growth in 2019/ 2020. Euler Hermes has warned that the world economy is about to experience a “big switch” with China set to replace the US as the main source of global growth in 2019/ 2020. Euler Hermes notes that its global macro-economic scenario suggests a rapid deceleration in US growth (2.9% in 2018, 2.5% in 2019, 1.7% in 2020), while economic growth in China is set to remain relatively resilient. Prospects for other EU countries are mixed with a dimmer outlook for Italy and the UK, and a brighter outlook for Germany and France. For example, for Germany, which slipped into an industrial recession in the second half of 2018, Euler Hermes thinks that the worst is over. For the UK, a temporary catch-up in the Eurozone in H2 2019 will lose steam in H1 2020 as the US enters a technical recession and the impact of the Chinese stimulus measures start to fade. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/economic-research/insights/The-Big-Switch-Rewiring-the-World.html.
UK retail insolvencies are expected to increase by more than 5% in 2019. Atradius' latest Market Monitor Consumer Durables UK 2019 reports that the outlook for the British consumer durables sector has not improved at all since Atradius downgraded it to 'Poor' in December 2018. Furthermore, retail insolvencies (which rose from 1400 to about 2,600 shops and stores in 2018), are expected to increase by more than 5% in 2019. As a result, Atradius notes that it currently maintains a restrictive underwriting approach: "Our underwriting stance for household appliances remains neutral for the time being, but a deterioration in the short-term future cannot be ruled out. We are restrictive with buyers in the furniture and consumer electronics segments, and even very restrictive with clothing/footwear retailers due to sharply increased numbers of business failures, including insolvencies of larger businesses." To read Atradius' news release go to https://group.atradius.com/publications/market-monitor-consumer-durables-united-kingdom-2019.html.
Atradius issues warning regarding the UK construction sector. Insurance Business UK has reported that according to Atradius' latest Construction Market Monitor, the UK construction industry will have to contend with a negative insolvency outlook for
another year.
Atradius warns that delays in payments, as well as insolvencies, “overriding” economic uncertainty and the knock-on effect of the Carillion liquidation, are expected to weigh heavily on the sector. According to Atradius, the average payment terms in the British construction industry measure 75 to 90 days.
It also pointed to a high level of protracted payments and payment delays, adding that the trend is expected to have worsened in 2019.
“With a high prevalence of late payments and insolvencies, it is impossible to deny that the construction sector is on shaky footings for 2019,” commented Simon Rockett, Head of UK Underwriting at Atradius. To read Insurance Business' article go to https://www.insurancebusinessmag.com/uk/news/construction-engineering/atradius-issues-warning-166049.aspx.
Coface announces the acquisition of Slovenian credit insurer SID - PKZ. As Coface has acquired all SID - PKZ shares, the business will operate under the new brand name Coface PKZ. Founded by SID Bank in 2005, SID - PKZ recorded EUR€14.3 million of gross written premium in 2018. Coface PKZ will be integrated into the Central and Eastern Europe region under the leadership of regional CEO Declan Daly. Xavier Durand, CEO of Coface commented: “The acquisition of SID - PKZ marks the first external growth initiative of Coface in more than ten years. It will reinforce our presence in this important part of the world and it is perfectly in line with the objectives of our Fit to Win strategic plan." To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-strengthens-its-market-position-in-the-Adriatic-region-by-acquiring-SID-PKZ-the-leading-credit-insurance-company-in-Slovenia.
Brazil: Emerging from a recession and reporting decreasing insolvencies. Atradius' South America country report Brazil 2019 reports that after Brazil’s longest and deepest recession in 2014-2016 - when GDP shrank by almost 9% - a modest economic rebound is set to continue in 2019. Similarly, business insolvencies which increased significantly in 2015 and 2016 are expected to decrease by 5% in 2019, although they will remain on elevated levels compared to pre-crisis years. The sectors with the brightest outlook include financial services and food. To read Atradius' news release go to https://atradius.co.uk/reports/south-america-country-report-brazil-2019.html.
Meet Euler Hermes' Risk Information team. Euler Hermes has published an interview in which four members of its Risk Information Team (which consists of 30+ team members including three regional risk managers) describe what their jobs involve. Those interviewed are: Stuart Sworn, senior credit analyst working on high profile risks; Ashley Taylor, credit analyst based in Birmingham; Agnieszka Niedzielska, senior credit analyst based in London; Anca Maria Toporjinschi, information and grading manager based in Bucharest. To read the interview go to https://www.eulerhermes.co.uk/resources/how-we-work/meet-the-risk-information-team.html.
Interview with Evan Freely. Insurance Business has published an interview, 'Why brokers need to be by the side of their client in times of crisis' with Evan Freely, BPL Global's new appointment to its executive board (see 'New Appointments', Credit Insurance News Digest, April 2019). Mr Freely discusses his motivation for joining BPL Global as well his intention to concentrate on three areas in his new position: global expansion, new products, developing talent. To read the interview go to https://www.insurancebusinessmag.com/uk/news/breaking-news/why-brokers-need-to-be-by-the-side-of-their-client-in-times-of-crisis-164900.aspx.
ICISA Insider: April 2019. The latest issue of ICISA Insider has been published for April 2019. Articles include: ''The Lost Art of Character Underwriting' by Robert Murray, 'Aviva joins ICISA' - Interview with Terry Michalakos, 'Familiar name, fresh perspectives' - interview with Azman Noorani, 'The Forces of Trade Liberalisation Strike Back' - by Rajiv Biswas. To read the latest issue go to http://www.icisa.org/the-icisa-insider/2052/mercury.asp?page_id=2054.
European Commission consultation on short-term export credit rules. The European Commission is inviting key stakeholders with an in-depth understanding of the short-term export-credit insurance market to participate in a consultation on the short-term export-credit insurance Communication that is expiring at the end of 2020. The deadline to submit contributions is 24 May 2019. For more information and to respond to the survey go to https://www.gov.uk/government/news/european-commission-consultation-on-short-term-export-credit-rules.
Podcast: How trade credit insurance benefits businesses. A TradeSecurely podcast, 'Receivables Insurance for Business Growth', examines the ways in which trade credit insurance benefits businesses. Cory Breed of Magnes Group in Canada shares how his clients are using receivables insurance and how it has helped them out of some tight spots. Cory provides a perspective on receivables insurance that is influenced from both his time as an agent and as a broker. Listen to the full show at https://receivablesinsurancecanada.com/podcast/episode-7-receivables-insurance-for-business-growth/.
Trade Credit Insurance Terminology. For new joiners to the industry or as an aide-memoire, the ICISA has published a useful and detailed dictionary of trade credit insurance technology. The dictionary, which is available in English French, Spanish, German, Italian and Spanish, can be downloaded from http://www.icisa.org/trade-credit-insurance/1547/mercury.asp?page_id=1560 or obtained in hard copy.
May's Quiz
We are delighted to launch May's News Quiz.
Just nine short questions (all answers can be found in this issue and Credit Management News Digest), with the chance to win a £20 Amazon gift card or equivalent donation to the charity of your choice.
We will announce our next winner in the next issue on 12 June.
Just nine short questions (all answers can be found in this issue and Credit Management News Digest), with the chance to win a £20 Amazon gift card or equivalent donation to the charity of your choice.
We will announce our next winner in the next issue on 12 June.
Click here to take part.
Thank you to readers who took part in April's Quiz. We are delighted to say that the prize went to Conor Mainwaring of Financial and Credit Insurance Services Ltd.
Thank you to readers who took part in April's Quiz. We are delighted to say that the prize went to Conor Mainwaring of Financial and Credit Insurance Services Ltd.
New Appointments
Markel International has announced that it has appointed Lee Zong Wen as assistant underwriter in its trade credit and political risk team in Singapore. Zong Wen joins Markel from JLT where, since 2016, he was senior executive broker for the credit, political and security risks team. Prior to this, he was an executive account manager at Coface in its Singapore branch.
Atradius has announced that it has appointed Chris Williamson as a new business development manager for its Northern Hub in Manchester. Chris has completed the Welsh Financial Services Graduate Programme; a collaborative programme of work, training and study towards an MSc in Financial Services Management.
Career Opportunities - SOUGHT
Credit and Political Risk Leader
Currently based in the New York area, I am a former head of credit and political risk (CPR) at a major insurer and currently consulting in the expert witness, loss adjustment, and trade finance areas. I am looking for a senior client-facing role in the underwriting, broking, or reinsurance areas and am particularly well suited for a firm that wants to launch a CPR unit in the U.S. or accelerate their existing efforts there. However, I am fully mobile and able to consider other locations, including London and Singapore. My main passion is engaging with customers to engineer insurance solutions to their problems.
Before becoming the global head, I launched CPR units in both Australia ($5MM GWP) and Singapore ($20MM GWP), finally leading the Asia-Pacific unit to $32MM in annual profitable GWP. Keys to success were broker, bank, and ECA relationship-building, thought leadership, and a problem-solving approach on complex structures.
My experience is primarily structured credit and political risk, although I have also underwritten and overseen short term multibuyer trade credit underwriting units. I have successfully underwritten a wide variety of financial structures and investments throughout the Americas, Europe, Asia, and Africa during my career, and I enjoy the intellectual challenge of new approaches and risks.
I earned my B.A. in Political Science (magna cum laude) from Amherst College and M.A. (Latin American Studies) / M.B.A. from the University of Texas at Austin. I am fluent in Spanish and have a working knowledge of Portuguese, having lived, studied, or worked in several Latin American countries, including Venezuela, where I was a Fulbright Scholar.
To contact this candidate, please email Sally Brown (sally.brown@creditinsurancenews.co.uk) in the first instance.
To contact this candidate, please email Sally Brown (sally.brown@creditinsurancenews.co.uk) in the first instance.
Trade Credit Business Developer/Account Executive with a solid production record and strong client relationships.
- A well regarded, Southern based candidate with over two decades of experience of SME and mid-market UK Trade Credit insurance and asset based lending.
- Focused and proven in business development and sales management, dealing directly with professional introducers, business owners, Financial Directors and Boards.
- Has a client bank available for transfer (no covenant) worth over £2 million GWP (around £½ million brokerage).
- Experienced in business analysis and due diligence and able to understand corporate structures, financial positions and risk factors.
- Negotiates and builds strong, long term relationships by identifying and bespoking solutions for debt protection, funding and term loans to help businesses improve working capital and cashflow positions.
- Mobile and available at short notice.
Strategic Market Management/Business Development Leader with a solid track record and strong market knowledge.
A UAE based candidate with over two decades of international experience in strategic market management, business development and marketing within financial services, including 10 years in Trade Credit insurance.
- Innovative, solutions-oriented leader with global agility, helps companies carve a new market strategy in an era of economic challenges and tech transitions requiring unique concepts that disrupt the conventional way of doing business.
- A strong negotiator, significant contributor to regional trade credit insurance market development with double digit growth Y-oY, building long-term strategic alliances, while focusing on shareholder value creation and sustainable business modeling.
- Experienced in designing winning market strategies, built on solid market analysis, due diligence, risk assessment and the understanding of complex market dynamics.
- Direct and diplomatic communicator and confident corporate ambassador interacting with culturally-diverse stakeholders.
- Available for local and/or international assignments.
- MBA graduate from Top Tier B-School.
To contact this candidate, please email Sally Brown (sally.brown@creditinsurancenews.co.uk) in the first instance.
Experienced Senior Trade Credit Insurance Underwriter based in Dubai.
Currently based in Dubai and employed by one of the top French Trade Credit Insurance Company as Senior Underwriter managing a portfolio of over 6.5 Billion EUR.
My region of expertise is the entire Middle East and Gulf regions. I have ten years of banking experience in Credit and four years Trade credit insurance experience as well in Dubai.
Responsible for:
- Managing credit exposure, mainly in Dubai and Saudi along with other Gulf and Middle East countries, focusing on large corporate and liaising with CFO / Treasury Managers.
- Actively managing key accounts with successful renewals and stipulated Loss ratios in place.
- Advising client in terms of furnishing additional information related to credit lines granted or refused. Regular business meetings and conference calls with clients to discuss feedback.
- Advising clients on improvement opportunities and assessing short and long term risk of default of debtors for the client.
- Gathering market feedback on sector performance and developing insights on sensitive, challenging buyers and closely monitoring them to enhance the underwriting for the clients and the quality of portfolio.
- Preparing quarterly sector reports and educating the team on ongoing challenges and the opportunities and, by doing so improve the underwriting quality and better support the business of our customers.
Business Strengths:
- My inherent ability for efficient coordination and monitoring allows me to deliver a smooth service in respect to day to day limit requests.
- Employing my comprehensive knowledge and experience in Trade credit insurance i am able to identify and point out clients needs in order to maximize the efficiency of the policy.
- Through my excellent communication skills I build strong relationships with my clients. This is achieved with visits on a regular basis and responding to their needs with professionalism and accuracy.
I am mobile and looking for an opportunity in the USA, Europe, Australia etc.
I could prove myself in the role of a Credit Controller, Credit Manager, Insurance manager.
To contact this candidate, please email Sally Brown (sally.brown@creditinsurancenews.co.uk) in the first instance.
Highly experienced Managing Director with strong sales and marketing background.
- Extensive C-suite experience (CEO & COO).
- A well regarded, London-based candidate with 15 years senior leadership experience in mid-sized international organizations.
- Client-facing business leader, expert in building deep and lasting commercial relationships.
- Digital strategist with experience in applying innovative, disruptive technologies.
- Proven experience in go-to-market strategies and M&A activity.
- Track record of successful international start ups and early stage growth accelerators.
- Experience of leading of both PE and VC-backed companies.
- Available for permanent or interim contracts.
To contact this candidate, please email Sally Brown (sally.brown@creditinsurancenews.co.uk) in the first instance.
Events & Offers
GTR UK 2019, 8 May 2019. London.
With negotiations between the United Kingdom and the European Union set to conclude in March 2019, GTR UK 2019 provides one of the earliest opportunities for the UK business community to convene and discuss the country’s post-Brexit trade strategy, taking place in London on May 8, 2019.
Enjoying unrivalled support from the UK’s primary trade bodies and leading export-focused institutions and having welcomed around 500 delegates gathered across leading industries in 2018, the event provides a crucial forum for domestic exporters, financiers and trade specialists to network, discuss and debate.
Join GTR and over 50 speakers as we explore the future of UK trade and exports, examining the trading opportunities within and beyond Europe and the implications of this new economic landscape for businesses.
Last year, 54% of attendees were corporates & traders and 14% were bankers & financiers representing over 250 different companies from around the world. 84% of all attendees held a senior to a c-level position.
10% early booking discount available until April 5 when booking online with code: EBD10. Click here for more information.
With negotiations between the United Kingdom and the European Union set to conclude in March 2019, GTR UK 2019 provides one of the earliest opportunities for the UK business community to convene and discuss the country’s post-Brexit trade strategy, taking place in London on May 8, 2019.
Enjoying unrivalled support from the UK’s primary trade bodies and leading export-focused institutions and having welcomed around 500 delegates gathered across leading industries in 2018, the event provides a crucial forum for domestic exporters, financiers and trade specialists to network, discuss and debate.
Join GTR and over 50 speakers as we explore the future of UK trade and exports, examining the trading opportunities within and beyond Europe and the implications of this new economic landscape for businesses.
Last year, 54% of attendees were corporates & traders and 14% were bankers & financiers representing over 250 different companies from around the world. 84% of all attendees held a senior to a c-level position.
10% early booking discount available until April 5 when booking online with code: EBD10. Click here for more information.
GTR East Africa 2019, 21-22 May 2019, Nairobi.
For over a decade, the GTR East Africa conference has brought together leading commodity producers and traders, manufacturers, trade finance specialists, risk management experts, and trade tech innovators, providing unrivalled insight on operating in this exciting region.
Returning to Nairobi for 2019, a comprehensive two day agenda will provide a comprehensive view of the East African trade landscape, featuring in-depth analysis of geopolitical and macroeconomic trends, regulatory and finance sector developments, and the trade financing and risk mitigation techniques being utilised throughout key regional value chains, from agribusiness to oil and gas and value-add manufacturing sectors.
With over 170 different companies represented at 2018’s event including 50% corporate sector representatives, the GTR East Africa conference is established as the region’s leading gathering for all those seeking to build crucial contacts and gain the inside track on doing business across the region.
10% early booking discount available until April 26 when booking online with code: EBD10. Click here for more information.
For over a decade, the GTR East Africa conference has brought together leading commodity producers and traders, manufacturers, trade finance specialists, risk management experts, and trade tech innovators, providing unrivalled insight on operating in this exciting region.
Returning to Nairobi for 2019, a comprehensive two day agenda will provide a comprehensive view of the East African trade landscape, featuring in-depth analysis of geopolitical and macroeconomic trends, regulatory and finance sector developments, and the trade financing and risk mitigation techniques being utilised throughout key regional value chains, from agribusiness to oil and gas and value-add manufacturing sectors.
With over 170 different companies represented at 2018’s event including 50% corporate sector representatives, the GTR East Africa conference is established as the region’s leading gathering for all those seeking to build crucial contacts and gain the inside track on doing business across the region.
10% early booking discount available until April 26 when booking online with code: EBD10. Click here for more information.
BCR’s Consortia 2019. Blockchain for Trade and Receivables Finance, 21-22 May 2019. London.
BCR’s Consortia 2019 is the first international conference to raise the profile of consortiums who are
pioneering blockchain and distributed ledger technology (DLT) for trade finance to the business and
financial community.
Consortia will provide a forum for the consortiums and their prospective partners and other
interested parties to showcase and evaluate their development and the future. The event will
provide opportunity for discussion on how blockchain and DLT are impacting trade finance and the
business opportunities these new technologies offer to banks, funders, SMEs, government bodies,
trade bodies and corporates etc.
With case studies of live transactions, examples of POCs and insights from the leading consortiums,
this is not an event to be missed.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass
rate. To register please follow this link www.consortia2019.com The Credit Insurance News delegate
discount code is CIN19– please utilise the code upon booking.
Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
TXF Global 2019: Export, Agency & Project Finance
12, 13 & 14 June, Grand Hyatt Berlin.
This 12, 13 & 14 June we bring your flagship export, agency & project finance show to Berlin! If you only attend one event of the year in this industry, TXF Global is ‘the one’. Join the gig and throw yourself into deal heaven with the CEOs of Corporates, ECAs, DFIs, SOEs and government ministers.
This 12, 13 & 14 June we bring your flagship export, agency & project finance show to Berlin! If you only attend one event of the year in this industry, TXF Global is ‘the one’. Join the gig and throw yourself into deal heaven with the CEOs of Corporates, ECAs, DFIs, SOEs and government ministers.
3 days of epic headline acts, intimate networking, inspiring content and innovative session types
await anyone brave enough to get themselves a ticket.
Keynote speakers include:
- Prof. Dieter Kempf, President, FEDERATION OF GERMAN INDUSTRIES
- Dr. Christoph Herfarth, Head of Export Finance and Export Credit, Guarantee Department, GERMAN FEDERAL MINISTRY FOR ECONOMIC AFFAIRS AND ENERGY
- Anna-Karin Jatko, Director General, EKN - THE SWEDISH EXPORT CREDIT AGENCY
- Gabriel Cumenge, Deputy Assistant Secretary, MINISTRY OF FINANCE OF FRANCE - DG TRÉSOR
- Jose Pedro Freitas, CFO, MOTA-ENGIL GROUP
- Debora Revoltella, Chief Economist, EUROPEAN INVESTMENT BANK
Visit the website for the full speakers list and agenda.
To secure your ticket please book online here .
GTR US 2019, 13 June 2019. Chicago.
The GTR US conference is set to return to Chicago for its third consecutive year on June 13, 2019.
With the US midterm elections taking place in November 2018 amidst ongoing global geopolitical volatility and technological disruption across the trade sector, the strategic challenges surrounding trade financing, working capital optimization, and credit risk management remain a firm fixture on the boardroom agenda. A rapidly evolving market offering competing digital solutions across physical trade flows and the associated financing sectors only adds to the complexity faced by those tasked with financing US commerce.
Featuring a host of expert speakers, GTR US 2019 provides the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling corporate treasurers, financiers and trade credit managers to form a resilient, bottom line-boosting business strategy.
An in-depth, interactive agenda spanning business-critical insights from geopolitical risks to the latest financing trends, liquidity sources and tech innovations in the trade space will furnish attendees with a comprehensive view of the key commercial trends emerging in 2019. 2018’s meeting saw record attendance from across the trade sector, welcoming companies including Microsoft, Mars Inc, Caterpillar, Motorola, Bunge, Siemens, Olam, Samsung, BP, Louis Dreyfus Commodities and IBM, as well as leading trade and supply chain financing practitioners, credit risk mitigation experts, government bodies and those tech companies leading the disruption of trade.
With a keen focus on networking, GTR US 2019 will once again provide the ideal forum for US companies and financial service providers to meet and discuss the next steps for US trade, and the evolution of the trade finance space.
Last year, 26% of attendees were corporates & traders and 24% were bankers & financiers representing over 100 different companies. 91% of all attendees held a senior to a c-level position.
Companies that attended last year included ArcelorMittal, BP, Caterpillar, Louis Dreyfus Commodities, Mars Inc., Microsoft Corporation, Plexus Corp, and more. View the full list of companies that attended last year’s event here.
10% early booking discount available when booking online by May 17 with code: EBD10. Click here for more information.
The GTR US conference is set to return to Chicago for its third consecutive year on June 13, 2019.
With the US midterm elections taking place in November 2018 amidst ongoing global geopolitical volatility and technological disruption across the trade sector, the strategic challenges surrounding trade financing, working capital optimization, and credit risk management remain a firm fixture on the boardroom agenda. A rapidly evolving market offering competing digital solutions across physical trade flows and the associated financing sectors only adds to the complexity faced by those tasked with financing US commerce.
Featuring a host of expert speakers, GTR US 2019 provides the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling corporate treasurers, financiers and trade credit managers to form a resilient, bottom line-boosting business strategy.
An in-depth, interactive agenda spanning business-critical insights from geopolitical risks to the latest financing trends, liquidity sources and tech innovations in the trade space will furnish attendees with a comprehensive view of the key commercial trends emerging in 2019. 2018’s meeting saw record attendance from across the trade sector, welcoming companies including Microsoft, Mars Inc, Caterpillar, Motorola, Bunge, Siemens, Olam, Samsung, BP, Louis Dreyfus Commodities and IBM, as well as leading trade and supply chain financing practitioners, credit risk mitigation experts, government bodies and those tech companies leading the disruption of trade.
With a keen focus on networking, GTR US 2019 will once again provide the ideal forum for US companies and financial service providers to meet and discuss the next steps for US trade, and the evolution of the trade finance space.
Last year, 26% of attendees were corporates & traders and 24% were bankers & financiers representing over 100 different companies. 91% of all attendees held a senior to a c-level position.
Companies that attended last year included ArcelorMittal, BP, Caterpillar, Louis Dreyfus Commodities, Mars Inc., Microsoft Corporation, Plexus Corp, and more. View the full list of companies that attended last year’s event here.
10% early booking discount available when booking online by May 17 with code: EBD10. Click here for more information.
GTR Asia 2019, 3-6 September 2019, Singapore.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Europe 2019, 14 October 2019, Paris.
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets!
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets!
Last year, the two largest sectors in attendance were corporates & traders (39%) and bankers & financiers (22%). Over 250 different companies from around the world were in attendance, 78% of all attendees held a senior to a c-level position. Use code: EBD10 for 10% early booking discount – expires September 20. Click here for more information.
About the Sponsor: Tinubu Square
Founded in 2000, Tinubu Square is a software vendor, enabler of the Credit Insurance, Surety and Trade Finance digital transformation.
Tinubu Square enables organizations across the world to significantly reduce their exposure to risk and their financial, operational and technical costs with best-in-class technology solutions and services.
Tinubu Square provides SaaS solutions and services to different businesses including credit insurers, receivables financing organizations and multinational corporations.
Tinubu Square has built an ecosystem of customers in over 20 countries worldwide and has a global presence with offices in Paris, London, New York, Montreal and Singapore.
Tinubu Square enables organizations across the world to significantly reduce their exposure to risk and their financial, operational and technical costs with best-in-class technology solutions and services.
Tinubu Square provides SaaS solutions and services to different businesses including credit insurers, receivables financing organizations and multinational corporations.
Tinubu Square has built an ecosystem of customers in over 20 countries worldwide and has a global presence with offices in Paris, London, New York, Montreal and Singapore.
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