Credit Insurance News Digest is a service provided by Credit Insurance News. This issue is kindly sponsored by Tinubu Square.
Please download images to view Tinubu Square's banner/logo and to view this email in optimum format
Dear Credit Insurance Colleague
Welcome to issue 21 of Credit Insurance News Digest: 19 March - 2 April 2013 brought to you by Credit Insurance News.
This issue is kindly sponsored by Tinubu Square.

If you are reading this Credit Insurance News Digest and would like to receive regular copies, please sign-up at www.creditinsurancenews.co.uk.

Index



Credit Insurance News
Trade credit risks have cost Zurich $600 million since 2008. PropertyCasualty360.com has published an article which advises that speaking during a webinar presentation last week by Marsh (see 'Industry Reports'), Anne Marie Thurber, executive vice president and managing director, credit and political risk for Zurich said the company had paid in excess of USD$600 million in claims since 2008 as a result of the financial crisis. To view the full article go to http://www.propertycasualty360.com/2013/03/27/trade-credit-risks-have-cost-zurich-600-million-si?utm_source=CreditInsuranceNewsUK&utm_medium=eNL&utm_campaign=PC360_LinkBuilding.

Coface advises that risks are back on the radar in emerging countries. Coface has advised that despite resilient growth, estimated at 5.1% in 2013, and improved sovereign and external fundamentals, emerging country risks have not disappeared altogether. Politically, tensions have sharpened, illustrated by protests in North Africa, the Middle East, and now also in Russia and India. Economically, there has been a rise in protectionist measures. Financially, excessive growth in bank loans to the private sector in a number of emerging economies is creating fears of a credit bubble - in Asia in particular. To view Coface's news release go to http://www.cofaceuk.com/CofacePortal/UK/en_EN/pages/home/who-we-are/news?news=130322.

Euler Hermes launches a CEO job swap program. Euler Hermes has announced that it has launched a senior executive development program in which six regional CEOs exchanged offices and responsibilities for one week. ‚Äč“We created the job swap program to enable our executives to stretch themselves, take a step back from daily responsibilities, gain a better understanding of different markets and exchange best practices,” explained Bernd Lehmann, Euler Hermes group head of Human Resources. “The program is also designed to foster collaboration and networking globally and to catalyze innovation.” For more information go to http://www.eulerhermes.com/mediacenter/news/Pages/ceo-job-swap.aspx.

Atradius issues a response to the Budget. Marc Henstridge, Director of Risk for Atradius UK & Ireland, commented: “Whilst the Chancellor nodded to the fact that export to developing economies is on the increase, we are disappointed that there was no further support offered to businesses looking to grow through international trade. As many developing economies remain in periods of positive growth, we urge British businesses not to overlook these markets as an opportunity. By maximising upon this potential, this time next year we may be able to look back at some more promising results in GDP." To view the full news release go to http://www.atradius.co.uk/corporate/press-releases/atradius-response-to-2013-budget.html.

ECGC to open office in London to help Indian exporters recover payments from defaulters. Live Mint has published an article, 'Export credit insurer to open first overseas office', which advises that the Export Credit Guarantee Corp. of India Ltd (ECGC), the fifth-largest credit insurer in the world in terms of coverage of national exports, plans to open its first overseas office in London to help Indian exporters recover payments from defaulters. N. Shankar, chairman and managing director commented: “It will focus on buyer underwriting, getting information on buyers in Europe and other places and helping in recovery of loans.” To view the article go to http://www.livemint.com/Companies/11I5fEBmTXH2gRIu2iEAhM/ECGC-to-open-first-overseas-office.html.

EXIM Bank of the USA Credit Insurance versus Private Insurers. One Source Risk Management & Funding has published an article by Eric Voegtle, 'EXIM Bank of the USA Credit Insurance versus Private Insurers', which examines the reason why U.S. companies may choose to take out government backed trade credit insurance policies rather than opt for private credit insurers, and advises that "private insurers are not always the best alternative for every company." To view the article go to http://tradecreditinsurance.wordpress.com/2013/03/25/exim-bank-of-the-usa-credit-insurance-versus-private-insurers/.

Euler Hermes and Coface become panel members of ComparetheDCA.com. Euler Hermes and Coface are among the 20 debt collection agency panel members of ComparetheDCA.com, a new service developed for all types and sizes of businesses. Comparethedca.com looks at the DCA’s in each market that specialise in different types of debt, and for each case calculates 2 costs - a maximum and a minimum. Charge on Success will be the maximum amount a client can be charged once a payment has been made by the debtor. This is based on a 100% success - so in cases where the DCA is only 50% successful, the client will only pay 50% of the charge. Charge on Fail will be the minimum amount charged. For more information go to http://www.comparethedca.com/b2b-debt-collection/.

A subscription is required to view the following articles:
Credit insurance remains a vital tool for corporate customers. Insurance Insight has published an article, 'Credit Insurance: Lessons from the crisis' by Igor Zax, Managing Director of Tenzor Ltd, which advises that credit insurance may have fallen out of favour during the crisis years, but if used correctly remains a vital tool for European corporates. The article looks into the value proposition of credit insurance, common misconceptions about its use, risks of relinquishing control of the credit process and efficient use of credit insurance as part of financing solutions. To view the article on Insurance Insight's website go to http://www.insuranceinsight.com/insurance-insight/opinion/2255844/credit-insurance-lessons-from-the-crisis.

Ducroire and SACE BT to pay back public aid. Europolitics has published an article, 'Ducroire and SACE BT must pay back public aid', which advises that Ducroire in Belgium and SACE BT in Italy will be paying back part of the aid granted by their respective state-owned parent entities. The European Commission announced its decision on 20 March after concluding two separate in-depth probes. It found in both cases that part of the public support was used to subsidise insurance products that were readily available from private operators on the market and was therefore incompatible with state aid rules.To view Europolitics' article go to http://www.europolitics.info/business-competitiveness/ducroire-and-sace-bt-have-to-pay-back-public-aid-art349547-3.html.




New Industry Reports and Video Clips
Aon's 2013 Interactive Political Risk Map draws on 15 years of emerging markets data collection. To complement its print version, Aon Risk Solutions has unveiled a new online and interactive political risk map with data going back more than 15 years. The map measures political risks, political violence and terrorism in 163 countries and territories to help companies assess the risk levels of exchange transfer, legal and regulatory risk, political interference, political violence, sovereign non-payment, and supply chain disruption. In 2013, for the first time, the Aon Political Risk Map also measures banking sector vulnerability, risk to fiscal stimulus and risk of doing business. The map can be accessed at http://www.aon.com/2013politicalriskmap/index.html?utm_source=aon.com&utm_medium=textlink&utm_campaign=2013polrisk.

Atradius advises that severe woes remain in Greece. Atradius has published its latest Country Report on Greece which advises that severe woes remain amid signs of improvement. Atradius advises that Greek GDP is expected to have contracted 6.6 % in 2012, leading to a cumulative shrinkage in real GDP of 19% since 2008. The only positive contribution to GDP growth came from net exports - mainly due to a massive 18.7% decline in imports. Atradius predicts that 2013 and 2014 will see GDP contraction of -5% and -1.5% respectively, with no economic rebound before 2015. To view Atradius' report go to http://global.atradius.com/creditmanagementknowledge/greece/greece-overview.html.

Credit risk management in volatile economic times. Tinubu Square has produced a white paper, 'Risk aware trade credit intelligence: The key to B2B certainty in an uncertain global economy', which advises that with increasing economic and political risks throughout the EU and more companies exploring trading opportunities in riskier markets, effective credit risk management should be at the top of the strategic agenda for CFOs and CEOs. The paper examines the importance of having detailed intelligence on the financial health and credit worthiness of all buyers and the right tools to assess their individual and collective impact on a company's balance sheet. The strategic, operational and final benefits of having risk aware credit intelligence are also illustrated. To download the white paper go to http://www.tinubu.com/credit-risk-solutions/corporate,downlaod-pdf.php.

Webcast: Yves Zlotowski looks at how emerging market risks have evolved. Coface has published a video clip in which Coface's chief economist at Coface, Yves Zlotowski, looks at how emerging market risks have evolved. Mr Zlotowski advises that emerging markets have been extremely resilient to external shocks and, as a result, county risks for emerging markets have been stable. Mr Zlotowski also examines the impact of the Arab Spring and the new factors which need to be taken into account when assessing political risk. To view the webcast go to http://www.coface.com/CofacePortal/COM_en_EN/pages/home/risks_home/country_risks/news?news=130320. A link to the full report, Country Panorama Country Risk, (see Digest 19 March) is also available from this page.

UK exporters urged to wake up and smell the coffee in Brazil. Coface has published a news release which advises that with little relief in sight for the Eurozone economies, UK businesses will need to reach out to countries like Brazil to boost their exports. Grant Williams, Risk Underwriting Director at Coface in the UK & Ireland commented: “Brazil is just one of the emerging countries which offer good opportunities for UK businesses, provided they take sensible precautions. Coface considers the average risk of default in Brazil is A3 (satisfactory) and assigns a business climate assessment of A4 (acceptable but can be difficult). We forecast economic growth of 3.4% in 2013." To view Coface's news release go to http://www.cofaceuk.com/CofacePortal/UK/en_EN/pages/home/who-we-are/news?news=130319.

Atradius advises that retailers are feeling the pinch. Atradius has published its latest Market Monitor which focuses on consumer durables/non-food retail performance and outlook. The report advises that reductions in consumer discretionary spend is leading to retailers, especially smaller retailers, "feeling the pinch", and analyses the performance of companies in China, Germany, Italy, Spain and the U.S. A snapshot overview of the situation faced by retailers in Canada, The Netherlands, Poland and the UK is also given. To view the report go to http://global.atradius.com/creditmanagementknowledge/market-monitor/latest-market-monitor.html.

Ducroire|Delcredere’s latest country report advises that growth prospects for Russia's economy remain subdued. The report advises
that in 2012 GDP growth in Russia moderated and is estimated to have reached only 3.4%, while in 2013 growth is expected to remain below 4%, reflecting flat oil prices, still weak external demand and moderating internal demand. The Russian economy is heavily dependent on energy: oil and gas revenues represent roughly 50% of federal budget revenues and make up 25% of GDP. To view the full report go to http://www.ondd.be/webondd/Website.nsf/%28ScrollNewsEn%29/Russia?OpenDocument.

Webcast: Doing Business in Distressed and Emerging Economies (Replay). On 20 March 2013, experts from Marsh, Zurich, and the Multilateral Investment Guarantee Agency (MIGA), took part in a webcast to discuss how political unrest and economic uncertainty can pose significant risk to businesses, and strategies to manage the risks of doing business in distressed or emerging economies. To listen to the webcast go to http://usa.marsh.com/NewsInsights/ThoughtLeadership/Articles/ID/29134/utm_source/twitter/utm_medium/social/utm_campaign/twitter.aspx and register or log-in to access this and additional content and research.




Industry Events and Offers
Underwriting Credit Risk in a Volatile Environment. London, 16 April.
Join S&P Capital IQ at the Lloyd’s Library, Lime Street, London on Tuesday 16 April (8.00am - 11.00am, with breakfast provided) for an exclusive insurance event. The seminar will examine sovereign and country risk on rated and unrated banks, corporations and private companies; and discuss how understanding these factors can help you with efficient counterparty risk assessment. To register please go to http://profile.standardandpoors.com/?elqPURLPage=1780.

Europe Trade Finance Week. Hamburg, 21-23 May.
Exporta Group has announced that it will be holding Europe Trade Finance Week, incorporating the long running Annual Europe Trade & Supply Chain Finance Conference, in Hamburg on 21- 23 May 2013. Offering comprehensive insight into the many challenges faced across the Europe region and consequences for the global community, proceedings will focus on: key corporate funding priorities, alternative financing options, risk provision and the importance of sufficient coverage, overcoming regulatory hurdles and the role of emerging markets in providing opportunities for multinationals and SMEs keen to grow their business in the new global climate. With huge emphasis placed on the importance of gaining access to key decision makers across a broad spectrum, registering delegates will be given the opportunity to pre-arrange meetings through the Exporta website. For more information about the conference go to http://www.exportagroup.com/events/conferences/Europe-Trade-Finance-Week_387/. A 15% discount is available to readers of Credit Insurance News Digest. Please contact Tom Whitehead, head of business development (twhitehead@exportagroup.com) for further information.

Insuring Export Credit & Political Risk Asia. 10-12 June, Swissôtel - The Stamford, Singapore.
Following the success of the 2012 launch event, the No 1 industry event for the credit and political risk insurance sector returns to Singapore for 2013, providing a unique opportunity to meet top executives from the region and internationally and hear the very latest industry news. Over 40 industry experts are due to speak at the event including: Leong Sing Chiong, MAS ~ Ashutosh Kumar, Standard Chartered Bank ~ Kevin Lu, MIGA ~ Topi Vesteri, Finnvera ~ Raffy Rios, Marsh ~ Fabrice Desnos, Euler Hermes ~ Chris Shortell, AIG ~ Ross Jennings, Cargill and many more. For the latest brochure or to register, please visit: http://www.iiribcfinance.com/FKW52562CIN quoting VIP code: FKW52562CIN for a 10% discount.

OFFER: Credit Insurance News readers can save an exclusive 10% discount when ordering Insolvency Today’s new publication, The Black Book. This is a comprehensive guide profiling 250 of the most active IPs in England and Wales in 2012, with widespread analysis of the most active industry sectors and regions and details of all administrations across England and Wales in 2012. Call Ninica on 020 79404842 and quote ‘Credit Insurance News’ for your discount. (Note: the standard price is £399 – you will save £39.90).




Business Information: Recommended Reports and Business Shorts
New survey reveals late payments 'epidemic' in the Scottish construction sector. The Scottish Building Federation's latest Scottish Construction Monitor has reported that late payments are a problem that has reached ‘epidemic proportions’. Four out of every five Scottish construction firms have had problems with late payment of invoices over the past year, with the average building company reporting almost £90,000 still owing to them from work on which the stipulated payment period has already expired. In addition, a majority of construction bosses have had to write off unpaid invoices over the past year at an average value of almost £6,000. The findings are published as the latest official statistics show 164 Scottish building firms were forced into bankruptcy last year, a rise of 122% compared to 2008's figures. To view SBF's press release go to http://www.orbit-comms.co.uk/new-survey-reveals-late-payments-epidemic-in-scottish-construction-sector/.

Economy improves and exports strong, but growth will be subdued. The British Chambers of Commerce’s Quarterly Economic Survey (QES) shows that the UK economy has made progress, but there are still some mountains to climb before it is fully back on track. The new survey shows that most key balances in both the manufacturing and service sectors strengthened in the first quarter of 2013. Export balances in services are particularly strong, with deliveries and orders near the all time high in 1994. Business confidence and investment are also up, and cashflow, although still relatively weak, is now positive for both manufacturing and service sector businesses. The findings suggest the economic outlook will improve gradually, and that growth will be positive but subdued this year. To view the BCC's news release go to http://www.britishchambers.org.uk/press-office/press-releases/quarterly-economic-survey-economy-improves-and-exports-strong,-but-growth-will-be-subdued.html#.UVq1lVd9YXI. A link to the full report is given.

SMEs wait 21 days to be paid. Hilton-Baird Collection Services' annual Late Payment Survey has found that businesses had to wait an average of 21 days beyond agreed credit terms to be paid by their customers in 2012, and, as a result, 48% paid their own suppliers late. In addition, 13% of the businesses surveyed wrote off more than 5% of their turnover as uncollectable, and only 14% outsource all or part of their credit control function to specialist debt collection agencies. Privately owned and limited companies remain the worst offenders. To view Hilton Baird's article in full go to http://www.hiltonbaird.co.uk/CS/Debt-Collection-News/15/Payment-Trends-News/402/SMEs-wait-21-days-to-be-paid/Late-Payment-Survey-2013/. A link to the full report is given.

Britain's growth forecast for 2013 reduced by half. The Office for Budget Responsibility (OBR) has advised that it has reduced its forecast for GDP growth in 2013 and 2014 from 1.2% to 0.6% and 2.0% to 1.8% respectively. This partly reflects weaker-than-expected fourth quarter 2012 GDP, which suggests slightly less momentum going into 2013 than many forecasters envisaged. Thereafter, the OBR's growth forecasts are unchanged - rising steadily to 2.8% by 2017. The Office for National Statistics' latest data suggest that the UK economy shrank by 0.3% in the final quarter of 2012 - slightly larger than the 0.1% reduction forecast by the OBR in December, reflecting disrupted North Sea oil production. To view the OBR's full Economic and Fiscal Outlook go to http://budgetresponsibility.independent.gov.uk/category/topics/economic-forecasts/.

Quarter day could cause administrations in the retail sector. Recent research by R3 shows that one in ten retailers are zombie companies, being kept going due to the forbearance of banks and key creditors. However, R3 warns, that the rent day could be the last straw for them. R3's President, Lee Manning, advised: “Christmas Sales were lower than expected for many retailers, including the anchor stores that usually do well whatever the conditions. . . Combining poor Christmas sales with the extended period of severe weather, which has hit post-Christmas retail sales, this rental quarter day could not come at a worse time for many retailers." To view R3's news release go to http://www.r3.org.uk/index.cfm?page=1114&element=18027&refpage=1008.

Analysis highlights the UK towns with the biggest increase in firms reporting strong growth. An extensive study, BusinessIQ, by Experian has revealed a significant improvement in the number of businesses reporting strong year-on-year growth. Experian's analysis shows that pre-2008, approximately one third of businesses in the UK achieved sales growth in excess of 10%, but this figure fell to a quarter during 2008-2010. The latest analysis has found that by the end of 2011, 32% of businesses were back to achieving strong sales growth rates. Nine out of the 10 towns and cities that saw the biggest increases in the number of businesses reporting strong sales growth were either in the Midlands or the North, with Hull topping the table. The only exception was Newport in Wales. To view Experian's news release go to http://press.experian.com/United-Kingdom/Press-Release/experian-reveals-increase-in-the-number-of-businesses-reporting-sales-growth.aspx.

ICM advises that companies are improving the timeline in which they collect their cash. Although the latest Credit Managers’ Index (CMI – Q4 2012) suggests that confidence levels among UK credit managers are continuing to fall, it seems that companies are improving the timeline in which they collect their cash. Philip King, Chief Executive of the ICM, commented that the figures around DSOs are particularly interesting, since they suggest that businesses are getting better at collecting the cash more quickly: “This is especially interesting given the current debate around the Prompt Payment Code, and the imminent arrival of the EU Directive on late payment. . . We know that some major customers are pushing out their payment terms, but the index suggests that credit managers are still very much on the ball in terms of collecting what’s owed." To view ICM's full news release go to http://www.icm.org.uk/files/CMIndexApril2013Article.pdf.




Retailers: Who's UP/Who's DOWN
UP: Asos, the online fashion retailer has reported a 34% rise to £352.3 million in first half retail sales. The UK also performed strongly with sales up by 28% to £75.4 million over the half, with strong Christmas trading. Outside the UK, sales rose by 45% to £111 million. The retailer now plans to launch dedicated Russian and Chinese language websites in 2013.
UP: Moss Bros has advised that, despite a slow start to 2013, its profits to the year 26 January have more than trebled from £900,000 to £3 million - largely due to the burgeoning market for school prom wear hire. Like-for-like retail sales were up 4.1% and hire up 3.1%. Looking ahead, the retailer now plans to launch a new hire website in the second half of 2013.
UP: Next has reported that strong online and catalogue sales have increased its profits, but, after a slow start to the year, remains fairly cautious about its overall prospects for 2013. For the year to end of January, the retailer's underlying pre-tax profit rose by 9% to £621.6 million, with growth coming from the Next Directory business (up 9.5%) rather than retail sales - which were flat. International sales also contributed £10 million to profits. Looking ahead, despite remaining cautious about the wider retailing environment, Next expects further profitable development of its online business outside the UK.
UP: Laura Ashley has reported a 9.2% increase in pre-tax profits to £20.1 million for the year to 26 January. Overall sales increased by 4.5% to £298.8 million, with a 2% like-for-like increase. However, despite these positive results, the group recently provoked condemnation after requesting a substantial discount from suppliers in order, it said, to maintain its competitiveness.
UP: Ted Baker has announced that, in the year to 26 January, its group sales climbed 18% to £20.1 million, while pre-tax profits increased 19.2% to £298.8 million. Regionally, sales increased by 11% in the UK and by 68% in America and Canada. These results mark the first time that womenswear has surpassed menswear sales.
Profits Down: Topps Tiles has advised that, due to difficult trading conditions, it expects to post an underlying profit before tax of about £4.3 million - a reduction of 23.2%, for the six months to 31 March 2013. Total revenues for this period will be in the region of £87.4 million, a 0.9% increase on 2012 figures, although like-for-like sales will be down by around 0.3%. However, the retailer remains confident that it can meet analysts' full-year expectations in September of pre-tax profitability of £13.3 -£13.8 million, and has initiated a cost-cutting exercise to this end.
Profit warning: Mulberry has issued its second profit warning in six months (the third in a year), advising that its full-year profits for the year ending 31 March would fall short of market expectations. Sales will be around £165 million compared with previous forecasts of £176 million, with pre-tax profits of £26 million for the year, compared with previous expectations of £30.7 million. Retail growth for the year is expected to be around 6%, but wholesale growth is predicted to be down 15%. The retailer cites reduced tourist spend - especially in the last ten weeks - as the cause.




Career Opportunities and New Appointments
New Listings
Credit Insurance Account Executive (Northern Area). Competitive salary and benefits.
HCC International is seeking to recruit a Credit Insurance Account Executive for its Credit Division based in Rearsby, Leicestershire. This position is home-based visiting clients in various locations in the North, although support of other regions may be required. The role involves negotiating renewals and providing technical support and advice to clients. Ideally candidates will have some experience in the credit insurance industry, experience in negotiation, good commercial awareness and be qualified to at least GCSE A grade standard in English and Maths. They should also be a confident, logical problem solver with excellent written and verbal communication skills and capable of working on their own initiative. To apply please call 01664 424896 or email ukhr@hccint.com for a job description and application form. The closing date is 9 April. (No agencies please). (Please mention Credit Insurance News Digest).

Business Development Manager, London. Excellent package to include bonus, car and benefits.
A major Trade Credit & Political Risk insurer based in the City is seeking an experienced Business Development Manager to join the team. Working within the Major Accounts section you'll be responsible for clients who have turnovers of no less than £100 million. The role will see you continuing to strengthen broker relations and promote the brand, meet with clients to assist brokers secure new business, discuss pricing with brokers and promote the brand and product through other selected intermediaries. Contact Kerren Leach at kerren.leach@reedglobal.com or call 0207 2204777 or 07940 403046 for a confidential discussion. (Please mention Credit Insurance News Digest).

Credit Insurance New Business Developer, Manchester. Salary c£35k plus commission Ref. KL/062.
This well known specialist Credit Insurance Broker are seeking an out and out new business person, capable of generating enquiries, new business prospects, interest and introducers from a wide variety of contacts and working practices fairly quickly. You will have a background of new business development working on own initiative, lead generation, relationship building and used to meeting prospects to establish credit insurance requirements. You will be a self-starter, motivated and experienced in B2B at a corporate level. Please contact Kristina@thehubagency.co.uk or call 07931 371990 in confidence. (Please mention Credit Insurance News Digest)

Political Risk and Trade Credit Broker, London. To £55,000 basic, with bonus and benefits.
A well known Lloyds broker who have been trading for over 20yrs is seeking a market facing broker to work within their London offices. This firm benefit from LLP status and hence they are able to truly value and invest in their employees. The role will see you dealing with a mixed portfolio of client sizes, placing all types of trade credit & political risk into the Lloyds & London Market. Typically these will be CF/CR, CEND, non-honouring of contractual guarantees, PV, repossession of mobile assets, etc. Experience broking similar risks is essential. An excellent career path on offer and development for the right candidate. Contact Kerren Leach at kerren.leach@reedglobal.com or call 0207 2204777 or 07940 403046 for a confidential discussion. (Please mention Credit Insurance News Digest).

Risk Underwriter, London. Basic to £43,000 with bonus and benefits.
A top marque credit insurer in London seeks an experienced Risk Underwriter to join their team. You'll be responsible for carrying out ongoing analysis on clients' exposure, amending credit limits, meeting with clients to discuss their exposure and advising on how to mitigate this. The role will see you involved with a few industry segments and a variety of client sizes. Applicants should have a minimum of two years risk underwriting experience. An excellent career development plan is on offer. Contact Kerren Leach at kerren.leach@reedglobal.com or call 0207 2204777 or 07940 403046 to discuss in confidence. (Please mention Credit Insurance News Digest).

Still Recruiting
Credit Analyst, London. (Ref 27675). Salary: £27,000 - £35,000.
An excellent opportunity in a highly regarded brokerage in London has arisen for a Credit Analyst. The jobholder will: develop strong relationships with clients, ensure transactions are conducted with full transparency, advise clients on the credit risks for buyers, industry sectors and countries, behave with all clients (both internal and external) fairly and ethically. The ideal applicant will have previously worked as a Risk Underwriter within Credit Insurers and will demonstrate an ability to understand financial accounts and be able to comment on the trends and issues affecting the business in formulating a credit opinion. To view the full job description go to http://www.lawesrecruitment.co.uk/jobs/city/operational/credit-analyst-london/1476/. To apply or for more information call 0203 4118430 or email london@lawesgroup.co.uk. (Please mention Credit Insurance News Digest).

Trade Credit New Business Producer, Cardiff (Ref: 27621). Salary: £30,000 - £35,000.
An established, reputable Insurance Company is looking for a Trade Credit New Business Producer for their Cardiff office. Essentially to help grow the business, open doors, sell the brand and become part of the company's expansion. This is an external, field based role but will require the job holder to visit the Cardiff office once or twice weekly. Requirements for the role include: extensive experience as a New Business Producer within the credit market (preferably with working exposure to the Wales region), a proven sales track record, excellent presentation and communication skills. To view the full job description go to http://www.lawesrecruitment.co.uk/jobs/uk/trade-credit-new-business-producer-cardiff/1004/ and/or for further information phone 0117 9113730 or email bristol@lawesgroup.co.uk. (Please mention Credit Insurance News Digest).

Business Development Executive, South East. (Ref: #235118-mh1601), Salary £30,000-£35,000 Basic. OTE £50,000.
One of the world's leading credit insurance providers is recruiting for a Business Development Executive. A purely new business position, the new sales consultant will be expected to develop new business contacts with a range of SME clients, dealing primarily with MD's, FD's and Commercial Directors. You will receive a full company induction and training course and will benefit from an uncapped commission scheme, fully expensed company car, pension, and other benefits. Applicants must have the following skills: field sales experience, proven new business sales track record (ideally in financial services, insurance, banking or business information), a stable work history and the ability to self-generate leads. For more information or to apply go to http://www.bms-uk.com/node/80240. Alternatively contact Jay Rehncy on 01784 414728. (Please mention
Credit Insurance News Digest).

New Appointments
Antonio Marchitelli joins Coface as new Mediterranean and African Region Manager. Antonio Marchitelli has been appointed Mediterranean and African Region Manager of Coface, effective from 1 March. Based in Milan, Italy, he is charge of developing the presence of the Group in this strategic region. Antonio was previously CEO of AXA Serbia, in charge of setting-up and developing business in the South Eastern Europe countries and emerging markets. For more information go to http://www.coface.com/CofacePortal/COM_en_EN/pages/home/Who_we_are/News?news=130328.




About this week's sponsor: Tinubu Square
Tinubu Square’s mission is to give our clients better control, visibility and management of their trade credit risk. Tinubu Square’s Risk Management Center (RMC), a cloud-based SaaS platform is a ledger management & credit insurance policy management tool which can eliminate fragmented credit management systems. This allows our customers to gain a consolidated view of risk per business unit or group wide. As an addition to our software offering, we are able to supply our Credit Risk Intelligence reporting and Risk Analyst advisory services. This gives companies the true picture of their customers’ financial health across their enterprise, from sales and marketing through the entire order-to-cash cycle. As a result, you can manage your customer credit exposure at local and international levels, improve cash flow, secure the value of receivables as an asset on your balance sheet and strengthen your financial position for short-term bank credit.

For more detailed information please review the website at www.tinubu.com or call Mark Avery on 07415 856349.



Credit Insurance News Digests: Sponsorship
Sponsoring an issue of Credit Insurance News Digest is a great way to promote your company or brand to a committed audience of trade credit insurance professionals.
If you are interested in sponsoring an issue go to www.creditinsurancenews.co.uk for further information or call Sally on 0208 337 2171.




The next issue will be with you on Tuesday 30 April
Copyright © 2013 Credit Insurance News, All rights reserved.
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 Digest, you must first contact sally.brown@creditinsurancenews.co.uk