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Welcome to the February 2023 issue of Credit Insurance News Digest.
PLUS: This month's featured article, How Startups are driving innovation in credit insurance
Credit Insurance News
'Clouds on the horizon': trade credit insurers face higher claim losses, but results should hold up well.
Insurance News (Australia) has reported that a new report by AM Best notes that as trade credit insurance is cyclical, with economic crises tending to produce "elevated" trade credit losses, it should be expected that,
without any new significant fiscal stimulus or government support measures, trade credit insurers will experience higher loss claims going forward. However, AM Best also notes that trade credit insurers can cut their exposure where required,
reducing their outstanding limits to a buyer in trouble. For this reason, "in the absence of a full-blown financial crisis, results should hold up well, supported by continued strong reserving."
To read the article on Insurance News' website go to https://www.insurancenews.com.au/international/clouds-on-the-horizon-trade-credit-insurers-face-higher-claim-losses-am-best-says.
Trade credit insurance: A working capital secret weapon.
A new article by Marsh notes that although trade credit insurance currently underwrites around £350 billion of economic activity for more than 600,000 businesses in the UK each year,
it remains a misunderstood insurance product for many, particularly for UK SMEs, "just 2% of which currently invest in trade credit cover."
However, putting in place trade credit insurance and thereby protecting cash flow, can also help businesses gain access to any finance they may need to invest in growth — at a time when access to debt finance for
SMEs is once again becoming problematic.
"Given that a third of SMEs say access to finance is vital to their survival, but 41% say that business finance is less accessible and a fifth of SME loan applications currently fail, this could be the single most important
reason to look closely at trade credit insurance."
To read Marsh's article go to https://www.marshcommercial.co.uk/articles/trade-credit-insurance-a-working-capital-secret-weapon.
More trade credit insurance cover reductions for Iceland suppliers.
The Grocer has reported that Iceland Foods has said it remains "incredibly well positioned", despite the decision by Coface to temporarily suspend credit insurance cover to some of the supermarket's suppliers.
The Sunday Times first reported that the French credit insurance provider was no longer insuring suppliers providing services to Iceland, following concerns about the impact of the rising energy costs on the frozen food specialist.
An Iceland spokesperson told The Grocer that Coface was already looking to reinstate this cover.
Coface is the third insurer known to have limited its exposure to Iceland over the past few months after Allianz and Atradius both cut coverage to the supermarket in November 2022.
To read The Grocer's article go to https://www.thegrocer.co.uk/iceland/iceland-remains-incredibly-well-positioned-despite-supplier-credit-concerns/676012.article.
An upsurge in insolvencies but not a "tidal wave".
Coface Group's Chief Economist, Jean-Christophe Caffet, has published an article that warns that the macroeconomic prospects for 2023 "look gloomy to say the least."
He suggests that in these conditions, it is difficult not to anticipate a steep rise in corporate insolvencies over the next quarters, and notes that the post-COVID normalisation process has also begun in many countries, such as France —
where corporate insolvencies have increased by around 50% over the first ten months of the year. However, he believes that It would probably be an exaggeration to assume there is a danger of "a fully-fledged "tidal wave", of
insolvencies." Firstly, the public authorities are keeping a close eye on the situation; and, secondly, the possibility of energy rationing seems to be receding in the very short-term.
To read Coface's news release go to https://www.coface.com/News-Publications/News/Is-the-insolvency-paradox-nearing-its-end.
After strong increases in the last two years, trade credit insurance premium rates are now declining.
Reinsurance News has published an article that notes that a new report from AM Best has found that trade credit insurers continued to enjoy strong results through 2022, despite provisions from the conflict in Ukraine
and the sanctions imposed on Russia. AM Best highlighted how, although initial exposures — particularly to Russia — were substantial,
trade credit insurers have managed these down quickly. Consequently, it does not expect material losses from insurers' exposure to Russia or Ukraine. AM Best also noted that "due to the good experience of the last few years",
premium rates are now declining after the strong increases seen in the previous two years,
and trade credit insurers are taking steps to anticipate likely challenges in 2023.
To read Reinsurance News' article go to https://www.reinsurancene.ws/trade-credit-insurers-taking-steps-to-anticipate-challenges-in-2023-am-best/.
Atradius registered 85% more claims in 2022 than in 2021.
In response to the latest updated figures from the Insolvency Service, which highlight that UK company insolvencies in Q4 of 2022 were up 30% on Q4 2021, James Burgess, Head of Commercial at Atradius, has warned that we
could see UK insolvencies hit new highs over the coming months.
Atradius' claims data also indicates that the number of claims it received for late or failed payments was 85% higher in 2022, compared to 2021.
James commented: "This morning's ONS figures confirming 5,995 business insolvencies were registered in Q4 of last year are sobering news, and unfortunately we're likely to see business failures rise across all
sectors as the months go on. . . Our internal claims data also indicates businesses are already falling victim to the looming recession, with the number of claims for late or failed payments reported to us in 2022 a
staggering 85% higher than in 2021."
Click here to read Atradius' news release.
The value of trade credit insurance claims in Australia rose by 13% in Q4. NCI Trade Credit Solutions (NCI) has reported that its latest Trade Credit Index (Q4 2022)
indicates that, whilst market conditions are still buoyant in Australia, credit insurance claims are on the rise (although coming off a low base over the past three years). NCI notes that compared to Q3 2022, the number of trade
credit insurance claims in Australia increased by 7.2%, and the value of claims increased by 13%.
There was also a 5.2% increase in the number of serious overdues reported, although the number of collections reduced by 10.5%. Overall, NCI registered 250 claims in Q4 with a total value of AU$21.7 million.
The trade sectors with the greatest number of claims were the Building/Hardware and Electrical sectors.
Notable businesses entering administration in Q4 2022 included Clough Projects Australia Pty Ltd, Sun Cable Pty Ltd and Elderton Homes Pty Ltd.
To see NCI's infographic go to https://nci.com.au/trade-credit-risk-index-q4-2022-2/.
QBE announces changes to trade credit leadership in Europe.
QBE has announced that, following the impending retirement of Ian Bocca at the end of March, it has restructured its trade credit senior leadership in Europe
with promotions in the team (see below for Appointments). Trevor Williams, Head of Trade Credit and Surety, QBE Europe, said: "Trade Credit Insurance has become an increasingly critical part of a business's risk management
as our customers navigate a turbulent economic outlook. Our new appointments will form the core of our trade credit team at QBE Europe."
To read QBE's news release go to https://qbeeurope.com/news-and-events/press-releases/qbe-announces-changes-to-trade-credit-leadership-in-europe/.
Coface acquires data analytics boutique rel8ed.
Coface has announced the acquisition of North American data analytics boutique Rel8ed. Oscar Villalonga, CEO of Coface North America, commented: "Over the last year, as we partnered with Rel8ed, it has demonstrated
a truly distinct set of capabilities to Coface and our clients, in the North America market,
where deep insights into mid-market and small businesses are difficult to acquire."
Rel8ed was founded in 2015 with the support of Innovate Niagara's incubator program in Ontario and currently has offices in the US and Canada. The company specialises in the integration, cross-referencing, analysis and inference from
big data extracted from multiple sources. Rel8ed's customers range from multinational companies, governments, and business associations.
To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-acquires-North-America-data-analytics-boutique-Rel8ed.
Trade credit insurance provides a lifeline for small businesses.
NerdWallet has reported that according to the British Insurance Brokers' Association, customer insolvency is the most common reason for a trade credit insurance policy claim.
However, despite the protection and benefits offered by trade credit insurance, in an FSB survey in January 2022, just 2% of small businesses had it.
Although recent changes in the insurance market "may have affected how easy (and affordable) it is to secure this cover," the article notes that trade credit insurance provides a lifeline for small businesses against the current bleak economic
backdrop. Umberto Oliva, Head of Trade Credit and Surety at Verlingue, commented: "Trade credit insurance is accessible for small operations throughout the UK, and some specialist credit insurers do offer products that can be feasible and
economical for micro businesses to explore."
To read NerdWallet's article go to https://www.nerdwallet.com/uk/business-insurance/trade-credit-insurance/.
How can insurance firms help SMEs amid increased business insolvencies? Insurance Times has published an article which asks industry
leaders about what firms can do to mitigate the risk.
Tanya Giles, Head of SME Business at Atradius UK, and Andy Hodson, Director of Risk at Allianz Trade UK and Ireland, are quoted. Andy notes that Allianz Trade UK business insolvencies increased by 51% last year, and a further 15% increase
is expected in 2023.
To read Insurance Times' article go to https://www.insurancetimes.co.uk/news-analysis/the-big-question-january/february-2023-how-can-insurance-firms-help-smes-amid-increased-business-insolvencies/1443614.article.
Cyber and business interruption are top business threats.
According to Allianz Risk Barometer 2023, cyber incidents and business interruption rank as the biggest company concerns for the second year in succession (both with 34% of all responses).
However, it is macroeconomic developments, such as inflation, financial market volatility and a looming recession (up from number 10 to 3rd place), as well as the impact of the energy crisis (a new entry at number 4)
which are the top risers in this year's list of global business risks. Both natural catastrophes (from number 3 to 6)
and climate change (number 6 to 7) drop in the annual rankings, as does the pandemic outbreak (from 4th to 13th place). Political risks and violence are another new entry in the top ten global risks at number 10.
To read Allianz Trade's news release go to https://www.allianz-trade.com/en_global/news-insights/economic-insights/Allianz-Risk-Barometer-2023.html.
Growth sectors in 2023. At the start of the year and against the backdrop "of rather gloomy economic forecasts", Atradius analysed major trade sectors across Europe, Asia and the Americas to pinpoint where there are opportunities
for the current year. According to Atradius' report, some bright spots still exist in the automotive, ICT and pharmaceuticals sectors. For example, Atradius predicts that automotive output in Europe is set to grow by 7% in 2023
(compared to 3.2% worldwide),
while ICT will continue to grow in Europe in 2023 before accelerating by more than 3% in 2024. In addition, Atradius forecasts that pharmaceuticals growth will continue in certain European markets — Italy, The Netherlands, Sweden and
Switzerland.
To read Atradius' news release go to https://group.atradius.com/publications/industry-trends/growth-sectors-2023-europe-asia-americas.html.
21,756 UK companies have now moved into Company Watch's Warning Area since the start of H2 2022.
Company Watch has reported that the number of UK companies in their Warning Area, and therefore showing signs of
significant distress, grew from 990,674 in December to 992,040 in January — a further increase of 1,366 companies. This means a total of 21,756 companies have now moved into the Warning Area since the start of H2 2022.
Company Watch also stresses that it is worth remembering that many businesses have taken advantage of the Companies House filing extension and warns that, for this reason, it expects to see an increasing number of
companies moving into its Warning Area due to their H-Score® moving as the accounts hit the Company Watch database and algorithm over the coming weeks.
To read Company Watch's news release go to https://blog.companywatch.net/resources/21756-uk-companies-have-entered-the-warning-area-since-h2-2022.
Coface maintains its 1.9% global growth forecast for 2023.
Coface's Barometer for Q4 2022 warns that although 2023 has started with the good news that Europe has avoided a recession,
we must be careful not to become complacent. "The challenges facing the global economy last year remain relevant, and the multidimensional crisis we are experiencing is not about to disappear."
However, although the trend remains towards downgrades in net terms, Coface Q4 Barometer has downgraded only three countries and ten sectors this quarter, after ninety-five in June 2022 and over fifty in October 2022.
Meanwhile, Coface has also revised positively the assessments for India and Burundi, and six sector assessments, mainly in the automotive industry, thanks to the gradual easing of tensions in the supply chains.
Coface's global growth forecast for 2023 remains unchanged at 1.9%.
To read Coface's news release go to https://www.coface.uk/News-and-Publications/News/From-excessive-pessimism-to-excessive-optimism-Coface-Barometer-Q4-2022.
UK construction business failures to increase by about 10% in 2023.
Atradius' latest Construction Industry Trends report for the UK forecasts that, after growing by more than 5% in 2022, British construction output will level off this year.
Increased energy and construction material costs have hit all major building segments. Another issue is the expiry of pandemic-related government support for businesses which now has to be repaid to HMRC.
Due to all these factors putting high pressure on the cash situation of businesses, Atradius notes that the number of overdue payments, payment plans, and insolvencies in the sector increased at double digit-rates in H2
of 2022 — albeit from a very low level — and expects business failures to increase by about 10% in 2023.
Given the deteriorated credit management situation of the construction industry, Atradius' sector outlook remains "Poor".
To read Atradius' news release go to https://group.atradius.com/publications/industry-trends/construction-industry-trends-united-kingdom-2023.html.
Massimo Falcioni reflects on his five-year tenure at Etihad Credit Insurance.
TXF has published an interview with Massimo Falcioni, former CEO of the UAE Federal Company Etihad Credit Insurance (ECI), about his journey with the export credit agency, the challenges of diversifying towards non-oil energy in the
region and his plans for the future.
To read TXF's article go to https://www.txfnews.com/articles/7497/Perspectives-Falcioni-reflects-on-his-five-year-tenure-at-ECI. (Subscription may be required).
Congratulations
Meridian Finance was named Broker of the Year at the Export-Import Bank of the United States Annual Conference in recognition of its work as an insurance broker driving transactions and facilitating US exports.
Meridian Finance was named Broker of the Year at the Export-Import Bank of the United States Annual Conference in recognition of its work as an insurance broker driving transactions and facilitating US exports.
Company Watch won the Chartered Institute of Credit Management (CICM) Risk Management Award at the British Credit Awards 2023.
This is Company Watch's second consecutive win.
New Appointments
Allianz Trade has promoted Tom Cox to Head of Marketing & Customer Experience, NEUR & UK.
Tom was previously Head Of Digital Marketing, NEUR & UK.
Aon has appointed Ralph Dahan as Head of Credit Solutions at Aon Middle East.
Ralph joins from Allianz Trade, where he was Regional Manager — Middle East.
Bartlett Group has announced three new appointments:
- Paul Jackson has joined Bartlett as an Account Executive. Paul has more than twenty years experience in the Credit Insurance industry.
- Paul Evison joins as a Trainee Account Handler based in Bartlett's Leeds office.
- Simone Burdell joins the Credit Team as an Administrator. Simone has twenty-five years experience in the insurance industry.
Coface has made several appointments:
- Jonathan Steenberg has been announced as Coface's Economist for the UK and Ireland. Jonathan moved to the UK two and a half years ago from Denmark and previously worked as an Associate Director for Economic Research at the Berne Union.
- Conor Mainwaring joins Coface as an Account Officer, Global Solutions, based in London. Conor joins Coface from Financial and Credit Insurance Services, where he was a Junior Account Executive.
- Karl Hague joins Coface as National Business Development Manager, Debt Collection. Karl was previously CEO and Founder of Ko-bolt and is the author of 'Switch On Your Cash Flow', a guide to credit management.
- Coface Nordics has appointed Pekka Puotunen as its CEO. Pekka was formerly CEO of Allianz Trade Sweden and Norway. He is based in Copenhagen.
- Antoine Marcilhacy has become Group General Counsel at Coface. Antoine has been with Coface for more than eighteen years. His last role was Directeur du Planning Stratégique - M&A & Corporate Development.
C&C Insurance Brokers Limited has appointed Corran Barnes as Director of Trade Credit.
Corran joined from Avenue Partners, where his most recent position was as Sales Director. He is based in Manchester.
Nexus Underwriting has announced the appointment of Farah Rostamzad as Head of Trade Credit in its French office.
Farah joins Nexus from Coface, where she was Business Leader for Coface Premium Services.
SCHUMANN has announced that Evgeny Kulyushin and Jan-Torben Schwager have been appointed as Managing Directors of Prof. Schumann GmbH.
Dr Martina Städtler-Schumann will continue as the Chair of the Board of Directors.
- Evgeny Kulyushin has been at the company since 2006 and has had various areas of responsibility over the years. Until now, he has been responsible for managing Sales and Marketing. In the future, he will also be responsible for developing the Credit & Surety market sectors.
- Jan-Torben Schwager will be responsible for the further development of the Industry & Trade and Financial Services market sectors. He has many years of consulting, project leadership and management experience and was already part of the company's management team.
QBE has announced that Seb Rice has been appointed to the role of Commercial Head, Trade Credit.
He previously led the New Business Underwriting team, Trade Credit, for QBE in Europe. In addition, Dave Murray has been appointed Head of New Business for Trade Credit, and Jamie Calder has been appointed Head of Risk Underwriting.
Jamie was previously jointly responsible with Dave Murray
for Risk Underwriting.
Towergate Insurance Brokers has appointed Jamie Coskry as an Account Executive based in Glasgow. Jamie joins Towergate from TL Dallas & Co Ltd,
where he was also an Account Executive.
W Denis has announced the appointment of Chelcee Witkowski. Chelcee has years of experience in credit insurance and will be developing
new business in the North of England for W Denis Credit Risks. Chelcee joins from Xenia
Broking, where she was a Business Development Executive.
WTW has announced the appointment of Pieter Van Ede as global head of trade credit.
Pieter has more than thirty years of experience in trade credit insurance. Prior to joining WTW, he was Deputy Global Head of Credit Solutions at Aon.
Career Opportunities
Coface Global Solution (CGS) Account Officer
Location: Various
Coface is a team of 4,500 people of 78 nationalities across nearly 60 countries, all sharing a corporate culture across the world. Together, we work towards one objective: facilitating trade by helping our 50,000 corporate clients
develop their businesses.
With 75 years of experience, Coface is a leader in the credit insurance and risk management market. We have also developed a range of other value-added services, including factoring, debt collection, Single Risk insurance, bonding, and information services.
As a close-knit, international organisation at the core of the global economy, Coface offers an enriching work experience on several levels: relational, professional, and cultural.
Every day, our teams are making trade happen. Join us!
Our UK and Ireland business is looking for an experienced Head of HR to lead on all elements of the people agenda.
With approx 125 hybrid worker employees in offices in Cardiff, Dublin, London, Watford, as well as home workers, this is a great opportunity to really add value and make a difference.
Please note that this is a Certified role under the Senior Managers Certification Regime (SMCR).
OBJECTIVES:
To apply for this position, please go to https://candidate.cofacecareers.com/198752.
With 75 years of experience, Coface is a leader in the credit insurance and risk management market. We have also developed a range of other value-added services, including factoring, debt collection, Single Risk insurance, bonding, and information services.
As a close-knit, international organisation at the core of the global economy, Coface offers an enriching work experience on several levels: relational, professional, and cultural.
Every day, our teams are making trade happen. Join us!
Our UK and Ireland business is looking for an experienced Head of HR to lead on all elements of the people agenda.
With approx 125 hybrid worker employees in offices in Cardiff, Dublin, London, Watford, as well as home workers, this is a great opportunity to really add value and make a difference.
Please note that this is a Certified role under the Senior Managers Certification Regime (SMCR).
OBJECTIVES:
- Act as the key point of contact for global clients to provide commercial services on a daily basis. This includes:
- Supporting Account Managers on global programs to deliver a high quality service
- Managing a small portfolio of clients independently
- Assisting the sales team with new business opportunities
- Providing training for clients and brokers on Coface platforms
- As an Account Officer, some of your daily responsibilities will be to:
- Coordinate tasks such, as policy issuance, with other CGS teams across the world
- Ensure compliance processes have been followed
- Support clients and brokers in the daily management of their contracts
- Attending client meetings
- Excellent interpersonnal skills
- Ability to work well within in a team and also independently
- Very good organisational skills and the ability to plan effectively
- High level of attention to detail
- Knowledge of the current economic climate
- Degree educated in Finance, Business Administration, Economics or equivalent
- Proficient with Microsoft Office
To apply for this position, please go to https://candidate.cofacecareers.com/198752.
Events & Professional Development
TXF Americas 2023: Structured Trade & Export Finance. 28 February - 1 March. Hybrid Event: East Miami Hotel, In Person & Online
(Conducted in English)
Get the best seats in the house and join the King Kong of the structured trade and export finance worlds. TXF Americas 2023 is returning to make a splash!
Bringing together the who's who of structured trade finance, TXF Americas is coming back to Miami! Brush off your finest conference attire and let us do all the leg work for you when you join another edition of this innovative, networking-focused event. We deliver the latest updates from the biggest names in export and commodities finance to sow the seeds of dealmaking over two days of networking.
Key Topics Up For Debate
Export Finance
Get the best seats in the house and join the King Kong of the structured trade and export finance worlds. TXF Americas 2023 is returning to make a splash!
Bringing together the who's who of structured trade finance, TXF Americas is coming back to Miami! Brush off your finest conference attire and let us do all the leg work for you when you join another edition of this innovative, networking-focused event. We deliver the latest updates from the biggest names in export and commodities finance to sow the seeds of dealmaking over two days of networking.
Key Topics Up For Debate
Export Finance
- The changing role of ECAs in a world where pure exports aren't the only part of the mandate
- The US 'whole of government approach', and how US Exim is seeking to create partnerships with other agencies and the private sector
- Waste and water treatment - how do we finance these projects?
- Decarbonisation - how do we finance technologies that will help the Americas transition
- Transport infrastructure in Latin America
- How do traders navitate pricing volatility? How will they restructure their portfolios to maintain healthy profit margins?
- Food security across the globe is an increasing worry - how can producers in the Americas support global food security?
- How will geopolitical tensions across the globe continue to affect commodity pricing?
- Insurance brokers give a political risk overview of the Americas
- Hear from bank and corporate buyers of the insurance product
- Hear an update on the claims landscape in the Americas
- Hear from key, senior figures in the region at Managing Director/CEO/CFO, Global Head and Regional Head level
- Ask questions and have your say with speaker Q&A throughout
- Enjoy different session styles from workshops and idea labs to 'game show' speaker panels and behind closed doors roundtables
- Take part in additional networking activities on top of the main event - such as ice-breaker drinks the night before and relaxed networking drinks at the end of day 1 within the conference venue
- Get access to the full guest list prior to the event and set up meetings with our custom-made messaging platform
- Experience an event which puts people first and encourages a more relaxed atmosphere and open, honest discussion
Join the best structured trade and export finance event in the
Americas with over 200 of the most active lenders, ECAs, exporters, borrowers, traders and more looking to finance deals and meet key clients. Special offers available - email marketing@txfmedia.com to enquire
For more information go to https://www.txfnews.com/events/264/TXF-Americas-2023-Structured-Trade-Export-Finance.
Trade & Investment Forum, 2023, 9 March. London.
The financing of international trade has long been the preserve of banks. But the democratising of investment in trade assets is closer than ever. Bankers, lawyers and fintechs are combining their expertise and drawing on experience from both the capital and trade finance markets to make this happen. There is now a clear recognition and demand for opening up the trade financing ecosystem in order to narrow the trade finance gap to support global supply chains, particularly in emerging markets. In the post-banking crisis era, there is growing interest from non-bank investors for new low-risk, short-term assets providing respectable yields. And as banks expect technology to increase the level of automation of trade finance distribution and start distributing open account transactions — such as unconfirmed receivables and approved payables — transaction volumes will surge. However, apart from through banks – which are largely unablenot always able to meet global demand because of regulatory bank capital and balance-sheet restrictions — an appropriate infrastructure for non-professional and low experience trade asset investors is not yet available. The new Trade and Investment Forum (TIF23) will examine the potential to create an ecosystem and enable a framework to facilitate access to trade finance by advancing the evolution of trade finance as an asset class for investors.
Join asset managers, insurers, pension funds, trade finance banks, fintechs ,family office, sovereign wealth funds and all those interested in alternative investment with risk/return profiles that align with the character of trade finance portfolios, at the first TIF23. Considering the anticipated growth in world trade, it is expected that the requirement for trade financing will increase substantially. Therefore, bankers are increasingly valuing the option to originate and distribute trade finance assets and to participate within more diverse solutions. TIF23 will examine these prospects with top speakers and provide excellent networking opportunities. Come along and be part of this new, exciting initiative which looks at realistic methods of closing the trade finance gap by establishing a wider market for trade assets.
The financing of international trade has long been the preserve of banks. But the democratising of investment in trade assets is closer than ever. Bankers, lawyers and fintechs are combining their expertise and drawing on experience from both the capital and trade finance markets to make this happen. There is now a clear recognition and demand for opening up the trade financing ecosystem in order to narrow the trade finance gap to support global supply chains, particularly in emerging markets. In the post-banking crisis era, there is growing interest from non-bank investors for new low-risk, short-term assets providing respectable yields. And as banks expect technology to increase the level of automation of trade finance distribution and start distributing open account transactions — such as unconfirmed receivables and approved payables — transaction volumes will surge. However, apart from through banks – which are largely unablenot always able to meet global demand because of regulatory bank capital and balance-sheet restrictions — an appropriate infrastructure for non-professional and low experience trade asset investors is not yet available. The new Trade and Investment Forum (TIF23) will examine the potential to create an ecosystem and enable a framework to facilitate access to trade finance by advancing the evolution of trade finance as an asset class for investors.
Join asset managers, insurers, pension funds, trade finance banks, fintechs ,family office, sovereign wealth funds and all those interested in alternative investment with risk/return profiles that align with the character of trade finance portfolios, at the first TIF23. Considering the anticipated growth in world trade, it is expected that the requirement for trade financing will increase substantially. Therefore, bankers are increasingly valuing the option to originate and distribute trade finance assets and to participate within more diverse solutions. TIF23 will examine these prospects with top speakers and provide excellent networking opportunities. Come along and be part of this new, exciting initiative which looks at realistic methods of closing the trade finance gap by establishing a wider market for trade assets.
For more information go to https://bcrpub.com/events/trade-and-investment-forum-2023.
MENA 2023: Export, Project & Development Finance, 14-15 March. Dubai, United Arab Emirates. Hybrid Event: Online & In Person.
Welcome to a networking spectacular! We combine forces with our sister brands Proximo & Uxolo for a bumper edition which brings together the Export, Project & Development Finance industries...
Collaboration between Africa and the Middle East has arguably never been greater with many key players looking to reap the benefits of a promising trade corridor between the two regions. Newly formed Middle Eastern ECAs are united by both their desire to bolster exports from the region and by their designs on Africa as a key reciprocal trading market.
Moreover, burgeoning use of Dubai as a trading hub for the Middle East make it a ripe location to gather a deal-hungry attendee list from leading ECAs, exporters, borrowers, EPCs, developers, lenders, investors, ECAs and other key export and project finance players!
Why join this senior-level gathering?
For more information go to https://www.txfnews.com/events/267/MENA-2023-Export-Project-Development-Finance.
Welcome to a networking spectacular! We combine forces with our sister brands Proximo & Uxolo for a bumper edition which brings together the Export, Project & Development Finance industries...
Collaboration between Africa and the Middle East has arguably never been greater with many key players looking to reap the benefits of a promising trade corridor between the two regions. Newly formed Middle Eastern ECAs are united by both their desire to bolster exports from the region and by their designs on Africa as a key reciprocal trading market.
Moreover, burgeoning use of Dubai as a trading hub for the Middle East make it a ripe location to gather a deal-hungry attendee list from leading ECAs, exporters, borrowers, EPCs, developers, lenders, investors, ECAs and other key export and project finance players!
Why join this senior-level gathering?
- Hear from key, senior figures in the region at Managing Director/CEO/CFO, Global Head and Regional Head level
- Ask questions and have your say with speaker Q&A throughout
- Enjoy different session styles from workshops and idea labs to 'game show' speaker panels and behind closed doors roundtables
- Take part in additional networking activities on top of the main event - such as ice-breaker drinks the night before and relaxed networking drinks at the end of day 1 within the conference venue
- Get access to the full guest list prior to the event and set up meetings with our custom-made messaging platform
- Experience an event which puts people first and encourages a more relaxed atmosphere and open, honest discussion
- Together with TXF, our sister brands Proximo & Uxolo join forces for a spectacular networking opportunity
For more information go to https://www.txfnews.com/events/267/MENA-2023-Export-Project-Development-Finance.
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.
The webinars on Trade Credit Insurance and Surety are organised multiple times per year: the next webinars on Trade Credit Insurance are planned on 20 October and 17 November 2022.
For 2023 the new range of Classroom courses are planned as well:
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 seasoned expert from the industry and there is enough opportunity for posing 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 be obtained by sending an e-mail to info@stecis.org.
The webinars on Trade Credit Insurance and Surety are organised multiple times per year: the next webinars on Trade Credit Insurance are planned on 20 October and 17 November 2022.
For 2023 the new range of Classroom courses are planned as well:
- 14 & 15 February 2023: Trade Credit Insurance Foundation Course
- 16 & 17 February 2023: Trade Credit Insurance Advanced Course
- 14 & 15 February 2023: Surety Foundation Course
- 16 & 17 February 2023: Surety Advanced Course
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 seasoned expert from the industry and there is enough opportunity for posing 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 be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: Tinubu
About Tinubu – watch our brand reveal video
Tinubu is the business facilitator and exchange enabler that delivers fluidity and simplicity to the
insurance industry by using the strength of collective performance.
Our company is an alliance of technology software and insurance expertise offering the best combination to its clients. It covers the entire value chain of credit insurance & surety with one end- to-end platform, connecting every part of your business with one digital highway.
Created in 2000 and headquartered in Paris, France, Tinubu is an independent software provider and employs 170 people, located in Paris, London, New York, Orlando, Singapore, and Montreal. Its clients represent 30 of the top 60 Credit & Surety underwriters worldwide.
Our company is an alliance of technology software and insurance expertise offering the best combination to its clients. It covers the entire value chain of credit insurance & surety with one end- to-end platform, connecting every part of your business with one digital highway.
Created in 2000 and headquartered in Paris, France, Tinubu is an independent software provider and employs 170 people, located in Paris, London, New York, Orlando, Singapore, and Montreal. Its clients represent 30 of the top 60 Credit & Surety underwriters worldwide.
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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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