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Welcome to issue 31 of Credit Insurance News Digest, 26 November 2013. This issue is kindly sponsored by InfolinkGazette

Special Offer: InfolinkGazette is offering readers of Credit Insurance News Digest a no-obligation 5 day free trial of their unique service. Click here to sign up for the offer.

  • Credit Insurance News
  • Credit Insurance Reports
  • Industry Events and Offers
  • Business Information: Recommended Reports and Business Shorts
  • UK Retailers: Who's UP/Who's DOWN
  • Career Opportunities
  • About this Issue's Sponsor

Credit Insurance News
CIFS announces new initiative to focus on single situation credit risks. CIFS has announced that it has recruited a new team and established an exclusive division that will focus on single situation credit risk business in the Lloyd’s market. The new team will be led by James Steele-Perkins who has more than 20 years specialist experience in trade credit, structured trade credit and political risk underwriting. He will join CIFS in February 2014 and will be supported by experienced credit insurance practitioner, Adam Clark. Commenting on the set up of the new CIFS single risk division Bob Lilley, Managing Director, Nexus CIFS Limited, commented: "It’s a sector that’s growing rapidly as traders and financial institutions seek to mitigate the risks of expanding international business - particularly in emerging markets." To view Nexus Underwriting Management's press release go to

The Middle East region: only 1.2% of the global trade credit insurance market but growing fast. Accountant Middle East has published an article, 'Capital control in wake of credit crunch,' in which Paul Godfrey, CPI Media Group’s Senior Editor, expressed concern at how few companies made use of trade credit insurance in the past, but added that this has significantly changed - particularly post the global financial crisis. “Companies are resorting to insuring trade deals as availability of credit remains tight,” he said. Anand Nagaraj, Citi Commercial Bank’s Vice President and Head of Product Development, added that the Middle East region is only a paltry 1.2% of the global trade credit insurance market, but the scenario is faster changing as more companies are now making informed credit decisions to minimise losses and expand into new markets. To view the article go to

Demand for Credit Insurance rising in Australia. Insurance Business has published an article, 'Overseas buyers eye up potential in commercial insurance', which reports that, according to Aon, Australian demand for trade credit Insurance is on the rise. "New market entrants are translating to increased capacity and maintained competitive rates. Additionally, appetite from the participating insurers for writing surety bonds has increased, and for the right companies, who meet the underwriting criteria, there is considerable competition." To view the full article go to

Astreos: announcing a new network of independent brokers specialising in Trade Credit Insurance. Astreos, a new global partnership of Specialist Credit Insurance Brokers, was formally launched on 14 November at a cocktail reception held at La Maison Polytechniciens attended by over fifty senior representatives from the underwriting market. Mike Clark, one of the founders of CRS, commented to the Digest: "CRS has already successfully collaborated with our Astreos partners on a number of major global programmes and the launch is an exciting development for all of us. We work exceptionally well together – the chemistry is right and we genuinely believe we will grow the credit insurance market." To view Astreos' website go to

Looking back at 30 years of Political Risk Insurance. TFR (Trade & Forfaiting Review) has published an article, ' Future history', in which Charles Berry, Chairman of BPL-Global describes how the political risk insurance (PRI) market has developed dramatically since his Chartered Insurance Institute textbook referred to "political risk" with the dismissive remark that "no private insurer could bear so heavy a risk". As BPL-Global passes its own 30-year anniversary, Mr Berry reflects on the growth of the private PRI market, which, he advises: "has paid its claims, increased its capacity by over 50% in the last five years in response to demand, and traded on." To view the article go to (Subscription required, with free trials available).
Please Note: We are delighted to announce that TFR is currently offering readers of Credit Insurance News Digest a 15% discount on its annual subscription. For details, please go to Events and Offers.

New player in the political risk market. GTR has published an article which advises that Brit Group has made two appointments, signalling its entry into the political and credit risk market. Peter Jenkins and John Lentaigne have been named co-heads of the nascent practice, which will form part of the firm’s property, space and terrorism division. Brit’s CEO Matthew Wilson commented: “Expanding into the political and credit risk space has been part of Brit’s strategy for a long time as we see it as the natural next step in building on our exceptional track record in terrorism underwriting. To view GTR's article go to

How to make your business more appealing to trade credit insurers. has published an article, 'How To Increase Your Trade Credit Insurance Appeal And Improve Financial Governance', by Mike Feldwick, the Head of UK and Northern Ireland, Tinubu Square. Mr Feldwick advises that despite trade credit insurance capacity remaining buoyant, recent research suggests that terms have hardened for firms with poor loss histories since the fourth quarter of 2012, and there is more reluctance to offer insurance if a business appears to be an unattractive risk. However, Mr Feldwick stresses that there are ways to make your business more appealing to trade credit insurers, and at the same time make shareholders more comfortable that tighter governance is being applied to credit management and risk mitigation. To view the article go to

InfolinkGazette research finds that UK companies enter liquidation with an average of 25 unsecured creditors. New research from InfolinkGazette has found that the average unsecured loss in Q3 2013 was £28,940, and total Q3 unsecured creditor losses were just under £0.5 billion. InfolinkGazette has also calculated that the average estimated turnover (excluding VAT) of unsecured creditors as at Q3 2013 was £3,529,500 - meaning that just one unsecured credit loss, at the average of £28,840, is equivalent to 0.82% of turnover. Greg Connell, Managing Director, commented, “the average UK company simply doesn’t have the liquidity to be able to absorb the losses accruing from customers going out of business and in to liquidation." To view InfolinkGazette's news release go to or view the release in this Digest's About this issue's sponsor section.

Receivables Insurance Canada explains the benefits of Credit Insurance. In a new YouTube video, Ian Miller, Founding Chair of the Receivables Insurance Association of Canada, talks about how receivables insurance works and the benefits of receivables insurance for insurance brokers, for bankers and for businesses. To view the video, go to

ICM Awards shortlist announced. Congratulations to our readers at the following companies who have been shortlisted for ICM Awards in the following categories:

Credit Insurance Broker of the Year: Aon Credit Insurance, EFCIS/ICBA UK, Oval Insurance Broking.
Credit Information Provider of the Year: CoCredo, Credit Assist Smart Credit.
Credit Insurer of the Year: Atradius, CIFS (2013 winner), Coface UK & Ireland, Ducroire Delcredere.
To view ICM's full shortlist go to For details about the Awards ceremony, please see Events and Offers - below.

Credit Insurance Reports and Video Clips
French company insolvencies close to their 2009 historical peak. Coface's latest Panorama report provides an analysis of the evolution of French insolvent companies between November 2012 and October 2013, and advises that, having experienced a 4.3% increase during this period, the number of insolvencies came close to its 2009 peak. Overall, 62431 became insolvent during the period, with SMEs hit the hardest and intermediary size companies less affected. The report also includes a special study of insolvencies in the construction sector in France, which, despite showing economic resilience, has paradoxically accounted for more than 30% of total insolvencies. To view Coface's news release and find a link to the full report go to

Italian companies continue to face high domestic non-payments. The latest Euler Hermes Non-Payment Report has advised that although the rate of company non-payments decreased both in the Italian domestic market (-13%) and the export market (-17%) in the first three quarters of 2013 (compared with the same period of 2012), their severity (average amounts) indicator increased by 14%. According to Michele Pignotti, Euler Hermes Head of Mediterranean Region, Middle East and Africa: “The slowdown in the rate of company non-payments indicates that the period of ‘skimming off’ the less financially viable companies has ended. The increase in the average non-payment amount mirrors a strongly deteriorated situation which has not spared even the most structured companies." Payment terms between private companies often exceed 100 days in Italy." To view Euler Hermes' news release and find a link to the full report go to

Coface report highlights uneven growth in Central and Eastern Europe. According to Coface's Panorama report, most countries in Central and Eastern Europe (CEE) are experiencing a slowdown in GDP growth, rising insolvency rates and high unemployment due to the economic crisis in the Eurozone, However, the company stresses that the picture across the region is not uniform – GDP per capita ranges from just below €3,000 in Ukraine to over €17,000 in Slovenia – and Coface is optimistic that the recovery in Western Europe will have a positive impact, especially on more open economies like Slovakia. To view Coface's news release go to

Atradius reports: "The U.S. moves centre stage again in the global economy as the Eurozone’s woes diminish". Atradius' latest Economic Outlook  examines the economic consequences of the 'shockwave' that was sent through the global financial system following the announcement by Ben Bernanke that the US will ‘taper’ its expansionary monetary policy, as well as the negative impact of the turmoil of recent months in the US political system. As a result, Atradius' forecasts for 2014 have changed since the last Economic Outlook in May, with lower economic forecasts for emerging economies and a growing gap becoming more evident between advanced and emerging economies. To view the Outlook go to
Note: Atradius has published a video clip on YouTube in which Atradius' Chief Economist, John Lorié, provides a forecast for the world economy in 2014 and discusses the varying outlooks for emerging economies and the U.S. To watch the forecast, go to

Coface finds that Poland clearly leads the ranking of top enterprises in Central and Eastern Europe (CEE). Coface has published a new report in its Panorama series, 'CEE Top 500' which lists the 500 biggest companies in the region in terms of turnover. Major players come from Poland, which has 171 companies in the field, followed by Hungary with 66 and Romania with 54. Katarzyna Kompowska, Coface Central Europe Region Manager, commented: “The analysis of the Top 500 companies illustrates that even in troubled economic times, potential for growth is there. The CEE flagships increased their turnover by 5% and demonstrated their importance not only within the region, but also for Europe and their main trading countries abroad.” To view the full report go to

Atradius reports that late payment of invoices is common in Mexico: averaging 60 days overdue. Atradius has published it latest Country report on Mexico and has advised, with the caveat that Mexico's outlook is heavily dependent on that of the U.S, that the short-term outlook is good. Growth is expected to pick up again in 2014 by 3.9%, following weaker GDP growth of 1.2% in 2013. The report also advises that late payment in general has become the norm in B2B transactions; average delays are up to 60 days, while delays of 90 days or more are not uncommon. To view Atradius' Country Report go to

Euler Hermes anticipates a 10% rise in corporate insolvencies in Morocco in 2014. During the first annual Moroccan edition of its International Trade Observatory held in Casablanca, Euler Hermes shared its analysis of 2014 risks and opportunities for the Moroccan economy. Tawfik Benzakour, Euler Hermes ACMAR CEO, commented: “Growth in Morocco should be stable at 4.5% in 2014, with contrasting factors cancelling each other out . . On the downside, reduced public investment and an expected decline in agricultural output; on the upside, more Mediterranean country exports and more company investments.” However Euler Hermes advises that the short-term cost of public finance consolidation will particularly impact company failure rate dynamics, and anticipates a 10% rise in corporate insolvencies in Morocco in 2014 - to 7332 bankruptcies. To view Euler Hermes' news release go to

Euler Hermes' U.S. Industry Outlooks
Food Industry. Euler Hermes' latest U.S. Food Industry Outlook advises that companies should reap benefits from 2013’s unexpectedly low price inflation, larger-than-anticipated crop yield and food retail price increases. The report also advises that growth during the next five years will come from healthy beverage options and food as consumers embrace more nutritious diets. To view Euler Hermes' news release and link to the full report go to
Steel Industry. Euler Hermes' latest U.S. Steel Industry Outlook advises that the steel industry has continued its slow recovery from the 2008 recession, with robust U.S. auto sales and improved construction activity supporting demand. However, the Outlook also cautions that the industry faces a challenging operating environment that includes weak apparent consumption, overcapacity and increased competition from imported steel. To view Euler Hermes' news release and link to the full report go to
Chemical Industry. Euler Hermes' latest U.S. Chemicals Industry Outlook advises that the industry will continue to grow, supported by increasing demand from key end-use markets including appliances, computers/electronics, plastics and rubber products. Industry performance in the remaining months of 2013 and early 2014 is likely to be similar to 2012’s growth of 1.6%. To view Euler Hermes' news release and link to the full report go to
Auto Industry. Euler Hermes' latest U.S. Auto Industry Outlook reports that increased consumer spending and ageing fleet will drive growth. Tristan Balcer, author of the report and automotive analyst at Euler Hermes, commented: "Many auto companies restructured their operations during the Great Recession of 2009. As such, the industry landscape has changed significantly, resulting in a leaner, more efficient sector that is poised to seize current opportunities.” To view Euler Hermes' news release and link to the full report go to

Industry Events and Offers
Libya Trade & Infrastructure Finance Conference, 6 February 2014.
As the new Libya continues to overhaul its public institutions and private sector in preparation for full participation in the global economy, the international business community is increasingly taking note of the extensive opportunity set offered by this key North African market, related to both its potential as a hub for regional trade and the huge investment needed to renew the country’s ailing infrastructure. The Libya Trade & Infrastructure Finance Conference will present a crystallised perspective of the opportunities on offer, providing delegates with a contemporary assessment of the rewards and risks posed by this newly liberalised economy. Bringing high-level networking opportunities, cutting edge content and a host of expert speakers together under one roof, the Libya Trade & Infrastructure Finance Conference constitutes an essential gathering for all those from the international trade and investment sectors seeking to gain the inside track on the high growth potential of this exciting business destination. For more information click here. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

10th Annual India Trade & Export Finance Conference, 12 February 2014.
Now in its 10th year and recognised as the conference of choice for the region’s trade finance community, this much anticipated annual gathering looks set to welcome over 250 high-level business leaders keen to discuss the most pertinent issues affecting both domestic and international players. Enjoying participation from companies of all sizes from all manner of sectors, the conference is a must attend event for anyone looking to do business with one of the world’s most burgeoning economies. For more information click here. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

The ICM British Credit Awards 2014, 12 February at The Brewery, London.
ICM British Credit Awards, the recognised standard in the credit and collections industry, take place on 12 February 2014 at the Brewery in London. The Awards bring a focus to the credit industry with awards covering the different aspects of credit from consumer and commercial lending to credit insurance, use of technology and business information. To book your place at this most prestigious event or to find out more, visit

7th Annual Russia & CIS Trade & Export Finance Conference, 19 February 2014. Moscow.
GTR returns to Moscow for the 7th Annual Russia & CIS Trade & Export Finance Conference. Now established as the only place for key business leaders to meet to discuss the ever-changing trade landscape in Russia and the wider region, the event will draw on record attendance in 2013 to further highlight the huge opportunities within this lucrative market. As with all GTR conferences, networking is a central theme through the day. The conference delegation will consist of decision makers from corporate, banking and financial services organisations, making this an opportunity not to be missed for anyone looking to make new business contacts within the Russian market. For more information click here. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

Middle East Trade Finance Week 2014, 25-27 February 2014. Dubai.
Middle East Trade Finance Week 2014, incorporating the 11th Annual Middle East Trade & Export Finance Conference alongside various stream sessions, roundtables, workshops and networking events, will be taking place at the Jumeirah Emirates Towers, Dubai on February 25-27, 2014. As one of the longest-running and most established events on the MENA calendar, the event has built an unsurpassed reputation for bringing together all leading trade and export finance professionals under one roof. With over 350 delegates expected in attendance, including companies of all sizes and from all manner of sectors, the event is well placed to tackle the region’s trade and export priorities, with specific focus on various countries, projects and financing trends. For more information click here. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

Insuring Export Credit & Political Risk, 26–27 February 2014, London Hilton Tower Bridge.
Now in its 24th successive year, this is the leading industry event with over 300 senior attendees from 37 countries, supported by the Berne Union and ICISA. The conference will provide a unique opportunity to meet top executives from around the world and hear the very latest news and views. Our international speaker line-up features some of the most eminent names for all sides of the industry, including leading ECAs, Multilateral Organisations, Underwriters, Brokers, Banks, Exporters, Investors and Buyers. Registrations are now open. Simply call +44 (0) 20 7017 7790, email:, or book online here. Quote VIP code: FKW52676CRN for a 10% discount.

STECIS Trade Credit Insurance and Surety (BASIC & ADVANCED) Training Seminars, 10-11 April 2014 and 19-29 June 2014. The Hague, The Netherlands.
The STECIS training seminars are two-day events and are highly interactive. They cover technical and practical knowledge on Trade Credit Insurance and Surety Bonds, the theory of underwriting, in-depth analysis of industry developments, the terminology and the current market. In addition, participants are asked to review case studies. The BASIC training seminars are on 10-11 April 2014 and are open to participants with up to 3 years of work experience. The ADVANCED training seminars are set for 19-20 June 2014 and are suited to participants who have attended the basic training seminars and/or have at least 4 years of work experience. As the International Credit Insurance & Surety Association (ICISA) strongly endorses the STECIS training seminar programme, ICISA member companies receive a 5% discount on the total seminar fee. Companies (ICISA members and non-ICISA members) registering three or more participants to one training seminar, receive a 10% discount on the total seminar fee. For more information, please visit the website or contact STECIS by sending an e-mail to or call +31 20 528 5170.

Business Information: Recommended Reports and Business Shorts
Lovetts reports a 30% increase in late payments chased by businesses. The latest analysis of Lovetts client transaction data shows that whilst trade appears to be improving for many, with evidence pointing to higher volumes of transactions, the number of overdue invoice payments being chased has also increased. The number of Letters Before Action Lovetts issued on behalf of its clients in Q3 2013 increased by a hugely significant 30.9% compared to the same period in 2012. Charles Wilson, Chairman of Lovetts, commented: “Companies of all sizes are affected by late payment and this can force them into delaying making payments themselves. It’s a vicious circle of late payment which needs to be broken." To view Lovetts' news release go to

KPMG expert advises that the dwindling availability of credit insurance has seen retailers finance the purchase of stock themselves. According to the head of retail at KPMG, David McCorquodale, this will be the most under stocked Christmas in recent years. Mr McCorquodale advises that retailers have slashed their stock holdings after concerns they will have to carry the can on costs if shoppers remain cautious about their spending this Christmas. As well as concerns over depressed consumer spending, the dwindling availability of credit insurance has seen retailers finance the purchase of stock themselves, which has increased pressure to hold as little stock as possible. To view KPMG's news releaase go to

Number of publishers going bust jumps 42% in one year. According to research by Wilkins Kennedy, the number of publishers becoming insolvent has jumped 42% over the last year. 98 publishers went bust in the last year, up from 69 the year before. Wilkins Kennedy explains that publishers’ business models have been undermined by the strategy of discount sellers – such as Amazon and the supermarkets – forcing publishers to cut their margins so that they can sell books at much lower prices. Wilkins Kennedy adds that the growing popularity of electronic books has also been detrimental to some traditional publishers, and poses major challenges for the industry. Recent publisher administrations include: Evans Brothers Limited, Panos London and Reel Art Press Ltd. To view Wilkins Kennedy's news release go to

The UK High street suffers a surprise slump in retail sales. According to new research by Deloitte, the high street suffered a slump in October as official figures showed a surprise 0.7% fall in retail sales compared with the previous month; analysts had been expecting sales to be flat. However, Deloitte's UK head of retail, Ian Geddes, reassured: “October’s small month-on-month decline will have been partly driven by the mild weather conditions. . .Year-on-year growth remains strong and as consumer confidence continues to improve, retailers will be hoping for better results as we head towards the festive season. Last year, October marked the start of a slowdown in sales for Q4 2012, retailers will be expecting a much stronger performance this golden quarter.” To view Deloitte's news release go to

A quarter of UK SMEs use personal finance to support their business. According to research by Experian, a quarter of SME directors have used personal finance sources of funding to support their business. Of those that had used personal finance, almost a third had used personal mortgages, while 47% of SME Directors said that they rely on high-interest personal credit cards. Personal bank accounts are also frequently used by SME Directors with 65% stating that they have drawn on funds directly from their current account and 48% saying that they had dipped into their personal savings. When asked what they were using the money for 30% advised that it was to pay suppliers. To view Experian's news release go to

Growth in manufacturing output strongest since 1995 – CBI survey. Growth in the UK’s manufacturing sector was the strongest for 18 years according to the latest CBI Industrial Trends Survey. Both the size of total order books and the pace of output growth over the past three months were the highest recorded since 1995.The survey of nearly 350 manufacturers found that total order books relative to normal levels were their strongest since March 1995. Export order books were also very firmly above average. To view the CBI's news release go to

New Publication: Economic & Construction Market Review. Readers may be interested a new monthly publication, Economic & Construction Market Review, published by Barbour ABI. The Review provides a detailed analysis of the UK construction industry, assessing the trends and developments which impact upon it. The report tracks changes and trends in the construction industry and measures it in the context of wider economic trends. It also provides up-to-date information on the performance and future prospects for construction. The first report is available to view without charge - go to
Note: As of December, Building subscribers will be eligible to receive the full edition of this report free of charge.

Global economy recovering at moderate pace but more risks ahead, says OECD. According to the OECD’s latest Economic Outlook, the global economy is expected to continue expanding at a moderate pace over the coming two years. GDP growth across the 34-member OECD is projected to accelerate from this year’s 1.2% rate to a 2.3% rate in 2014 and a 2.7% rate in 2015. The world economy, by contrast, will grow at a 2.7% rate this year, before accelerating to a 3.6% rate in 2014 and 3.9% in 2015. The pace of the global recovery is weaker than forecast last May, largely as a result of the worsened outlook for some emerging economies. To view the OECD's news release, full report and webcast go to
'Global economy recovering at moderate pace but more risks ahead, says OECD', © OECD 2013,

UK Retailers: Who's UP/Who's DOWN
UP: Sainsburys has reported a rise in half-year sales and profits which have confirmed its position as the best performing major UK supermarket. Like-for-like sales (excluding fuel) rose 1.4% in the half year to September 28 - marking 35 consecutive quarters of like-for-like sales growth. Pre-tax profits rose 9.1% to £433 million (2012/13: £397 million).
UP: Carphone Warehouse, Europe's biggest independent mobile phone retailer, has reported that its half-year profits to 28 September increased to £19 million (£4 million the previous year), while like-for-like sales were up 8.3% - the 5th consecutive quarter of like-for-like revenue growth Although exceptional items led to a statutory pre-tax loss of £25 million, the retailer emphasised that it was well placed for Christmas and on track to meet full-year expectations.
UP: New Look, the fashion retailer, has announced 6% sales growth to £753.2 million and 53.5% increase to £70.9 million in underlying profit for the 26 weeks to September 28. UK sales also rose by 5% to £579.4 million, up on £551.6 million last year, with UK like-for-likes sales up by 2.6%. Overall, pre-tax profits of £13.8 million in the half year, compared very favourably to pre-tax losses of £13.6 million a year earlier.
IMPROVING: Mothercare. Driven by double-digit (13%) international growth, Mothercare has announced that its first half to 12 October results show a return to profit - an underlying profit of £2 million compared with a £1.8 million loss a year earlier. While the UK operation experienced reduced sales of £238.4 million (£257.6: 2012), like for like sales showed some improvement (- 1.4% compared to - 3.4% in 20120), and there was a £2.0 million reduction in underlying UK losses to £14.9 million.
DOWN: Tie-Rack, one of the major retailing success stories of the 1980s, has announced that it will be closing its 44 UK stores by the end of this year. This decision follows a long decline in the retailer's fortunes as the popularity of the brand and tie wearing itself abated; with the last available financial results showing a pre-tax loss of £6.8 million last year (-£7.4 the year before).
DOWN: Barratts, the shoe retailer has gone into administration for the third time in four years blaming "difficult trading conditions." Although the retailer, which had been urgently seeking a £3 million loan to purchase stock for the Christmas period, had received an offer of £5 million from an investor, the offer was withdrawn on 7 November. Barratts has 75 stores and 23 concessions across the UK and Ireland.

Career Opportunities
Trade Credit Account Executive (Ref; 23582378). London. £35,000-£70,000 per annum, negotiable.
An opportunity which now exists within the growing Trade Credit team of a major UK broker. You will have specialised in the field of Trade Credit insurance and have a broker based client facing/servicing background. You might also have experience/knowledge of Political Risks business although this is by no means essential. Our client's accounts are corporate although they will also consider individuals with SME Trade Credit account experience. Salary will be dependent upon experience and what you have to "bring to the party". For more information go to If your background/experience genuinely matches this vacancy requirement, you should call Leslie James Recruitment directly on 020 7873 2271 to highlight your application. (Please mention Credit Insurance News Digest).

Structured Credit and Political Risks Account Handler (Ref: 23387236), London. £30,000 - £45,000 per annum, negotiable.
This is an opportunity which is available now with a leading London Market broker. The role will entail all aspects of the account handling of Structured Credit and Political Risks business. You will need to have had specific experience in the field of Structured Credit and Political Risks, be technically proficient and have good knowledge and relationships with insurers in the sector. Excellent training and prospects are available for the right candidate along with superb career prospects. For more information go to If your background/experience genuinely matches this vacancy requirement, you should call Leslie James Recruitment directly on 020 7873 2271 to highlight your application. (Please mention Credit Insurance News Digest).

Customer Service Executive, Reading. Excellent salary + benefits.
We are currently seeking a Customer Service Executive to join our existing Credit Risks Team within the Willis UK Retail Business Unit. The successful individual will be assisting a team of Account Executives in developing and servicing a portfolio of clients within the agreed service guidelines to meet customer expectations, contribute towards the business objectives of the team and to generate profitable income for Willis Credit Risks and the wider Willis Group. The Willis Credit Risks team is a specialist business unit within Willis UK Retail division, the UK arm of the Willis Group. The team provides advice to businesses regarding protection against the failure of a customer to pay their trade credit debts.To be considered for this role you must have experience within Insurance or related businesses. Your key skills will include: Excellent communication, first class client relationship management, ability to work independently and as part of a team, attention to detail. For more information click here.To apply, please email your CV to Marian Brewer, Client Service Director, Willis Credit Risks, mention Credit Insurance News Digest).

Senior Risk Underwriter, London. £50,000+DOE.
This well known credit insurer based in the heart of the insurance district is looking to add to its growing, dynamic team of Risk Underwriters. The ethos within this firm is considerably different from the larger credit insurers and everyone is given the freedom to do their role to the best of their ability, whilst also given the development to truly empower them to make decisions. You'll be responsible for domestic buyers primarily, although if you have experience of foreign risk then you will also get involved in overseas buyers. As part of the role you'll be expected to meet with clients and buyers as well as getting involved in credit committees. To be considered you should have at least 3 years Risk Underwriting experience and a focus on excellent client service as this is important to them. For more information and/or to apply please contact Kerren Leach on 07940 403046 or email (Please mention Credit Insurance News Digest).

Political Risk Underwriter, London. To £75,000 + Benefits.
Working for a highly respected company market insurer based in the City, you'll be responsible for taking submissions from brokers, assessing the risk including carrying out sovereignty / client / exposure analysis using a number of tools, accepting or declining risks depending on certain parameters. Agreeing pricing for these risks whilst maintaining excellent relationships with the broking community. Experience considered could be Broking or Underwriting of Political Risk or Structured Credit policies, alternatively experience within a banking environment in structured credit, export finance, project finance or syndicated loans. For more information and/or to apply please contact Kerren Leach on 07940 403046 or email (Please mention Credit Insurance News Digest).

Political Risk & Structured Credit Brokers, 1-7 years experience, Europe & Singapore.
Actively recruiting on behalf of the broking houses in London who are seeking experienced Political Risk brokers to join them at junior-mid level. Typically you'll be working with a mixed portfolio of banks, Traders and exporters covering all lines of political and single situation risks. Conversational or business level knowledge of another language (ideally German, Mandarin, French, Spanish, Portuguese) would be beneficial but is not essential. For more information and/or to apply please contact Kerren Leach on 07940 403046 or email (Please mention Credit Insurance News Digest).

Senior Credit Insurance Account Handler (Ref: DSCJ602), London, Kent. £27,000-£33,000 plus benefits.
A prestigious broker in the London area is seeking a professional candidate who has previous credit insurance experience. Responsibilities will include consultation on credit insurance, claims, probable losses, credit limits and policy issues, as well as assessing, adjusting and submitting claims to credit insurers – negotiation to settlement. The successful candidate will also meet with clients and insurers to discuss claims to achieve satisfactory settlement. This is a great company to work for with fantastic training, working environment and benefits. Only candidates who have previous specific experience of working within credit insurance will be considered. For more information contact Darren Stone or call 01634 673156. (Please mention Credit Insurance News Digest).

Risk Underwriter - City - c£50,000 plus benefits/bonus - Ref: KL/211.
Ideally you will have 3-5 years risk underwriting experienced gained in the London Credit Insurance market. It would be useful if you had some export credit underwriting experience also,- although this is not essential. This is an exciting time for this first class underwriting agency and an opportunity for you to be going places with them. They have a strong customer centric approach to business which reflects in the high level of customer satisfaction and repeat business that they enjoy. Their setup affords an innovative approach, a quick and efficient service and value for money. This is a super opportunity for the right candidate. For more information email or call 07931-371990 or 0208-3937413. (Please mention Credit Insurance News Digest).

New Appointments
CIFS has appointed Allie Macleod to the new role of Business Analyst. Commenting on Ms Macleod's appointment, Bob Lilley, Managing Director of Nexus CIFS, said: "We're keen to eliminate the systems barriers that can so often delay product innovation and market expansion. In addition, we've identified a growing need for us to be able to leverage our insurance and credit information resources for the benefit of policyholders, brokers and partners operating in non-traditional areas and Allie's background and experience make her ideally suited to this role."

CRS' new Executive Board. CRS has announced that with effect from 1 January 2014 it has promoted Susan Coleman, Sam Hibbs, Steve Hirst. Roger Johnson, Mark Rhodes and Mark Whiteley to sit on its newly formed CRS Executive Board: Reporting to Mike Clark, Hayden Tennant and Lisa Humphries the Executive Board will assume responsibility for day-to-day operational matters. The remit also includes development of strategies to continue and accelerate the growth of CRS over the coming years.

About this issue's sponsor: InfolinkGazette
InfolinkGazette is the only online provider of digitised unsecured creditor information.
We have a dedicated database of over 100,000 unsecured creditors from UK company liquidations and the volume is increasing at the rate of 1,500 to 2,000 unsecured creditors per week.
The historical database of unsecured creditor data, together with the regular, twice weekly updates ensures a constant source of prime new business prospects for Risk Management Professionals such as Trade Credit Insurance Brokers.

With a subscription to InfolinkGazette, you could receive:
  • Complete lists of unsecured creditors
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Sales prospects from InfolinkGazette help drive new business because there is rarely a better time to approach a prospect with a Credit Risk Management proposition than after an unsecured credit loss.

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Press Release: The latest Q3 2013 research from InfolinkGazette, the UK providers of Unsecured Creditor information shows that UK companies enter liquidation with an average of 25 unsecured creditors. The average unsecured loss in Q3 2013 was £28,940, compared to the annual average of £43,000 and total Q3 Unsecured Creditor losses were just under £0.5 billion.
  • The average Shareholder Funds (Net Worth of Unsecured Creditors as at Q3 2013 was £477,000, meaning the average unsecured credit loss of £28,940 reduced Shareholder Funds by 6.1%.
  • The average estimated Turnover (Sales excluding VAT) of Unsecured Creditors as at Q3 2013 was £3,529,500, meaning that just one unsecured credit loss, at the average of £28,840 is equivalent to 0.82% of Turnover.
  • The average Working Capital (Current Assets minus Current Liabilities) of Unsecured Creditors at Q3 2013 was £44,000, meaning that just one unsecured credit loss at the average of £28,840 would wipe out 65.8% of the Working Capital.
Greg Connell, Managing Director, commented, “these figures help to explain why unsecured creditors are 3.6 times more likely to fail than the national average – the average UK company simply doesn’t have the liquidity to be able to absorb the losses accruing from customers going out of business and in to liquidation. Greg added, “UK companies need a combination of accurate up-to-date credit information on their customers to help them avoid bad debt; fast response debt recovery to collect overdue accounts from at risk customers and trade credit insurance to mitigate against losses when they occur.”
For further information call Greg on 07753 739752.

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