Welcome to issue 36 of Credit Insurance News Digest, 24 March 2014. This issue is kindly sponsored by S&P Capital IQ.

  • Credit Insurance News
  • Credit Insurance Reports
  • Industry Events and Offers
  • Business Info: Recommended Reports 
  • Career Opportunities and New Appointments
  • About this issue's sponsor

Credit Insurance News
Political risk market stalls due to ongoing turmoil in Russia, Ukraine. Marsh has advised that insurer concern over the political unrest and country credit ratings in Ukraine and potential sanctions in Russia have caused some to effectively stop underwriting political risk insurance in those two countries. In the meantime, companies seeking to conduct new business in Russia and the Ukraine will experience difficulties obtaining coverage. No new political risk or trade coverage is being written in Ukraine, Marsh notes. Some insurers are willing to underwrite Russian deals and may honour non-binding quotes on new business. However, if a political risk insurance policy is quoted, it is likely that organisations will experience delays before binding due to increased underwriting scrutiny. To view Marsh's news release go to http://uk.marsh.com/default.aspx?tabid=1572&ID=37375.

Multinationals have increased appetite for credit insurance. Multinational firms are showing an increased appetite for trade credit insurance which is stimulating market growth, according to Marsh's head of trade credit UK and Ireland, Tim Fisher. Speaking to StrategicRISK, Mr Fisher said: “There are a number of things driving the growth in the trade credit market. The world is more connected than it ever was, with increased and faster communication. This is giving companies confidence to trade and invest in new markets, with new customers.” The impact of both the global recession and globalisation has also raised the profile of credit insurance and the risk mitigation it can offer to companies to support growth, protect balance sheets and provide confidence in their trading ability. To view StrategicRISK's article go to http://www.strategic-risk-global.com/multinationals-drive-trade-credit-market-growth/1407508.article.

Euler Hermes launches Economic Research mobile application. Euler Hermes has launched a mobile application enabling access to its Economic Research publications and analyses from iPad and iPhone devices. “We’re excited to bring this global digital service to the credit insurance market and its clients, offering access to regular research and trends at one’s fingertips,” explained Ludovic Subran, chief economist at Euler Hermes. The application is available as a free download from Apple's App Store or via the Economic Research section of Euler Hermes’s website. The app will also be available shortly on Android devices. To view Euler Hermes' news release go to http://www.eulerhermes.com/mediacenter/news/Pages/Euler-Hermes-launches-Economic-Research-mobile-application.aspx. To view a YouTube video announcing and introducing the app go to http://youtu.be/8TXVfxqNF5Y.

Unspecified credit insurer describes the failure of KMS as "like a bolt from the blue." CRN has published an article, 'Creditors of fallen tablet maker KMS hit for £4m', which advises that following the sudden collapse of Cardiff-based KMS in January, administrator Deloitte has told unsecured creditors they will get only a negligible return on their £3.95 million collective debts. Describing the sudden failure, one unspecified credit insurer commented: "This was like a bolt from the blue . . . KMS' risk profile was strong so all the major insurers had cover. The problems started in October and it was all done by January – it fell like a pack of cards." To view CRN's article go to http://www.channelweb.co.uk/crn-uk/news/2333796/creditors-of-fallen-tablet-maker-kms-hit-for-gbp4m.

SIG advises that many of its customers are struggling to find credit insurance solutions to meet their needs. rci (Roofing, Cladding and Insulation) magazine has published an article, 'NSCC Fair Payment Campaign receives further support from construction allies', which advises that SIG has announced plans to launch a series of financial support services in a range of fields, including credit insurance. Simon Johnson, director of UK credit management at SIG, advised rci: " . . . we're seeing many of our customers considering credit insurance, but struggling to find a solution that takes into account the complexities of construction financing structures." The article also examines the problem of late payment and notes the recommendations put forward by the National Specialist Contractor's Council (NSCC) to tackle late payment and late payment culture. To view the article go to http://www.rcimag.co.uk/readnow/#/8/.

Euler Hermes GCC foresees growth of 15 – 20% in 2014. Global Brands magazine has published an article, 'Euler Hermes GCC on a positive trail', in which Massimo Falcioni, CEO of Euler Hermes GCC, talks about Euler Hermes' business in the GCC region. Mr Falcioni assigns the company's 38% growth in the region in 2013 to an increased awareness of credit risk among entrepreneurs. Looking ahead, he foresees Euler Hermes GCC growing at the rate of 15 – 20% in 2014. To view the article go to http://www.globalbrandsmagazine.com/euler-hermes-gcc-on-a-positive-trail/.

Coface Collections North America rebrands to Altus. Coface Collections North America, Inc. has announced that it has rebranded to Altus (Altus: meaning - the highest level, peak or pinnacle) as part of a global brand realignment strategy. A new tagline 'Global Trade Solutions' and a new logo symbol, a stylised globe, have also been introduced. Altus has also simultaneously launched its new website http://www.TrustAltus.com. For more information go to http://trustaltus.com/news-events/altus-in-the-news/.

HCC International launches improved proactive Enhanced Cover. HCC International has advised that when a Policyholder has a great business opportunity but there is a shortfall in cover, its Enhanced Cover (EC) product (now with faster underwriting and improved coverage) can help. Although HCC remains primarily a whole turnover credit insurer, it recognises there may be particular circumstances where a policyholder may wish to pay extra for cover outside the scope of that offered by a standard policy and premium. HCC advises that this maintains whole turnover cover at a realistic premium and continues to give proper credit management support whilst at the same time offering a solution for circumstances where a policyholder wishes to trade above the standard levels of cover. To view HCC's announcement to brokers and policyholders, please click here.

Atradius advises that its credit insurance business performed well in North America, Asia and Central and Eastern Europe in 2013. Atradius' results for 2013 show that its credit insurance business performed particularly well in North America (revenue up by 15.7%), Asia (+6.5%), Central and Eastern Europe (+4.5%). Overall, the Group reported total revenue of €1,578.4 million resulting in net profit of €134.5 million for its 2013 financial year - an increase of 18.4% compared to 2012. Profit before tax grew by 14.8% to €173.8 million in 2013. To view Atradius' news release go to http://global.atradius.com/corporate/pressreleases/atradius-nv-reports-18-increase-in-net-profits-to-eur-1345-million.html.

Coface reports that its new business generation increased by 29% in 2013. Coface has announced its results for 2013 and has advised that its commercial growth dynamic was strong, with new business generation up 29% to €157 million in 2013 - compared with a 13% decrease in 2012. Coface also maintained the level of its earned premiums in 2013 (-0.9% on a constant consolidation and exchange rate basis) and recorded slightly decreased consolidated revenues of -1.6% (on a constant consolidation and exchange rate basis). The Group is now anticipating its proposed initial public offering in the first half of this year. To view Coface's news release go to http://www.coface.com/News-Publications/News/2013-Annual-results.

Guide: 'How - Credit Insurance Works'. Chamber International has published the latest in its 'How to' guides, 'How - credit insurance works'. The brief guide contains two main sections covering why companies need credit insurance and listing the product's main advantages. To view the Guide go to http://www.chamber-international.com/uploads/files/how-to-credit-insurance.pdf.

And finally: Congratulations to Euler Hermes on winning the Innovation Award at the Commercial Insurance Awards.

Credit Insurance Reports
Euler Hermes: All things come to those who wait - Green shoots for one out of four sectors. Euler Hermes has published its latest Global Sector Outlook: 'All things come to those who wait'. The Outlook advises that the anticipated 2014-2015 global economic recovery will be too modest and heterogeneous to fully benefit the majority of sectors around the world. As a result, sectors rated 'at risk' remain in the majority for 2014: 49% at medium risk and approximately 25% at sensitive or high risk. In other words, only 25% of sectors exhibit sound enough fundamentals or outlooks to begin 2014 with a low level of risk. On a global scale, textile, construction and air transport sectors began 2014 with the highest level of risk. To view Euler Hermes' news release with a link to the full report go to http://www.eulerhermes.com/mediacenter/news/Pages/Euler-Hermes-Global-Sector-Outlook-All-things-come-to-those-who-wait-risk.aspx.

Risk Adviser: Political Unrest in Ukraine. Marsh has published a new report, Risk Adviser: Political Unrest in Ukraine, to provide risk and insurance advice to organisations following the overthrow of the Ukrainian government in February 2014 and the subsequent movement of Russian military forces. The Adviser gives a brief situation analysis and outlines some of the steps that organisations should consider when dealing with political risk and violence arising in Ukraine. To obtain a copy go to http://uk.marsh.com/default.aspx?tabid=1560&ID=36344.

Atradius: Challenges and opportunities in the Chinese Copper Market. Atradius has published a new report, 'The Chinese Copper Market: Opportunities and Challenges', which provides an outlook for the Chinese economy and specifically the copper market. One of the report's key findings is that China’s demand for copper is expected to continue to grow over the coming decades, although the rate of growth will be lower than over the past fifteen years. China currently ranks as the world’s 10th most copper intense economy. To view the report go to http://global.atradius.com/images/stories/Publications/economic_outlook/Atradius_Economic_Research_-_The_Chinese_copper_market.pdf.

8 out of 10 companies in China experienced overdue payments in 2013. Coface’s recently published survey of corporate credit risk management in China found that 82% of companies surveyed reported overdue payments in 2013 - a 5% increase compared to 2012 and the highest level in 3 years. Of those affected, 45% said that overdue amounts had also increased. Companies also experienced overdue payments for a longer period, with 18% reporting average overdues of more than 90 days, 5% more than in 2012. In
 Coface’s experience, payments that are over 6-months late are considered as highly risky - with an 80% chance that they will not be paid at all. To view Coface's survey go to http://www.cofaceuk.com/News-Publications/News/China-sees-highest-level-of-corporate-overdue-payments-since-2010.

Atradius' latest report on the Nordic Region is now available. Atradius has published its latest Country Report on the Nordic Region which advises that although, in mid-2011, the expected default frequency (EDF) of all Nordic countries deteriorated for several months, in the course of 2013 the Nordic EDFs improved again. In November and December 2013, the EDFs for Denmark, Finland, Norway and Sweden reached their lowest level since the start of the global credit crisis in autumn 2008. For 2014, looking ahead per country, Denmark is predicted  to see a rebound, Finland is expected to see a slight insolvency decrease, and lower interest rates will help to spur growth in Norway. To view the report go to http://global.atradius.com/creditmanagementknowledge/nordic/nordic-country-report-summary.html.

Industry Events, Offers and Training
8th Annual Turkey Trade & Export Finance Conference, 25-26 March. Istanbul.
After a record breaking meeting in 2013 saw over 370 delegates gather under one roof for two days of high-level discussion and networking, the 8th Annual Turkey Trade & Export Finance Conference will return to Istanbul on March 25-26. Enjoying full recognition as the premier annual event for Turkey’s leading businesses and those trade, export and commodity financiers and associated sectors tasked with supporting their international trade, the conference will again provide deep insight on the trends and challenges being experienced by those operating in this exciting market alongside extensive networking across an international audience that remains unrivalled throughout Turkey and the wider region. Click here for more information. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

Credit Summit 2014, 3 April 2014. QEII Conference Centre, London.
The UK’s largest credit show is growing. Creditors can look forward to even more cutting edge free content including the Trade Credit Conference, Insolvency Conference and training workshops. Including more than 40 exhibitors showcasing their latest innovations across the entire credit and collections market with over 500 delegates to share ideas and gain crucial market knowledge. The FCA will be providing a timely comment on the transfer of consumer credit and how they will be supervising the consumer credit industry. All this is FREE to access for all credit professionals, just visit www.creditsummit.co.uk to find out more and to register for your place.

4th Annual Latin America Trade & Commodity Finance Conference, 9-10 April. São Paulo, Brazil.
Once again providing the definitive meeting point for those high level decision makers operating in or looking to do business in Latin America, this is the most comprehensive gathering of leading trade finance practitioners in the region, and is well placed to address the abundance of opportunities and challenges this exciting region holds. Simultaneous English/Portuguese translation at the conference will allow all delegates to fully immerse themselves in proceedings. Click here for more information. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

4th Annual Indonesia Trade & Commodity Finance Conference, 24 April. Jakarta, Indonesia.
GTR is delighted to once again return to Indonesia for one of the largest gatherings of trade finance specialists in the region. Jakarta will again host GTR Events’ 4th Annual Indonesia Trade & Commodity Finance Conference. This leading industry event has rightly gained the reputation as the preeminent meeting of trade and commodity finance specialists, where discussion of key themes will take place as well as unrivalled networking for anyone serious about doing business in Indonesia. Huge emphasis will be placed on the importance of networking, where an abundance of such opportunities will be provided over the course of the event. Delegates will also have the opportunity to plan and organise private meetings with fellow attendees prior to the conference via the pre-event networking website. Click here for more information. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

S&P Capital IQ’s ‘Credit Risk – The Evolving Challenge’ event, 1 May 2014. Lloyds Old Library, London.
Join us on the 1st May for our exclusive event for insurance underwriters, brokers, risk management and credit analysis professionals. During this seminar our speakers from S&P Capital IQ, Standard & Poor’s Ratings Services and Aspen, will discuss the evolving world of credit risk, and how this can impact the management of your lending and underwriting exposures. To register for free, please visit: www.spcapitaliq-credit.com/insurance-event.

FCIB Annual International Credit and Risk Management Summit, 11-13 May 2014. The Marriott Hotel, Munich, Germany.
If you are looking to increase your company’s visibility and turn sales leads into profits, FCIB’s Annual International Credit and Risk Management Summit in Europe is the place for you. For two days, over 100 decision-makers gather for what is the premier international industry event of the year. The Summit will include a wide range of presentations and panel discussions on global risk issues, emerging markets, compliance policies and best practices in credit, with Atradius' Andreas Tesch and John Lorié delivering the keynote address. In addition, a relaxing dinner will facilitate plenty of networking opportunities. Discounts are available for FCIB members and/or registrations before 31 March 2014. For more information and/or to register go to FCIB Annual Credit & Risk Management Summit.

ICTF's International Credit Professionals Symposium, 11-13 May 2014. Hotel Princess Sofia, Barcelona.
This truly global conference will feature presentations by renowned experts from China, France, Hong Kong, Netherlands, Spain, Switzerland, UK and the USA; including a Keynote Address from Ludovic Subran, Group Chief Economist & Director Economic Research Department with Euler Hermes and 'Hot in Asia' from Bart Poublon, Head of Risk Asia Pacific with Atradius. Other Conference highlights include 'Trade Finance and Credit Management - The Next Dimension!', 'The Journey to Creating a Best in Class Credit Function' and 'ICTF's Trade Creditors Global Forum'. For more information visit http://www.ictfworld.org/BlankCustom.asp?page=Barcelona2014 or contact Tim Lane at tim.lane@ictfworld.org or +44 (0) 1869 277523.

3rd Annual Mongolia Trade & Commodity Finance Conference, 13 May. Ulaanbaatar, Mongolia.
GTR is delighted to announce that the Mongolia Trade & Commodity Finance Conference will return to Ulaanbaatar in May 2014 for the third edition of this annual series, the only such event for the Mongolian trade and commodity finance community. Building on the success of the 2013 conference, which welcomed 175 delegates from 13 different countries, the 2014 event will once again provide an unrivalled platform for discussion and debate with the region’s leading local businesses and trade finance practitioners. With its focus on Mongolia’s mining, minerals and vast commodity-led growth, this will be the key trade gathering for the country’s senior business leaders, providing timely insight on the challenges facing the local banking and private sectors, as well as offering perspectives from the industry’s key supporting actors. Click here for more information. A 15% discount is available for Credit Insurance News Digest readers, please quote CIN15.

Coface UK and Ireland Country Risk Conference, 5 June. British Library, London.
Coface has opened registrations for their Country Risk Conference in June. The Coface UK and Ireland Country Risk Conference will be held on Thursday 5 June 2014, from 9am to 2pm at the British Library, London. The aim of the conference is to support companies in defining a strategy that will help both protect them against the risk of bad debt and maximise their domestic and export opportunities. Economists and sector specialists will look behind the headlines to give an insight into trading opportunities and risks for UK businesses, assessing key markets such as continental Europe, Brazil and the UK. Places are limited but those who wish to attend should register now on the Coface website http://www.cofaceuk.com/News-Publications/Coface-Country-Risk-Conference.

Understanding International Credit Reports: New training course. Various dates throughout 2014.
Graydon has announced that it is introducing a new training course, Understanding International Credit Reports. The one-day course will examine: report content by region (MENA, North America, Latin America, Africa, Europe, Far East & 'Tax Havens'), sources of data (Credit Agencies, Public Registries, Local Agent in undeveloped markets & Law Firms), credit scoring/ratings and pricing. The course costs £599 + VAT (a 10% discount is offered to Credit Insurance News Digest readers) and will be held on various dates throughout the year. For more information, please go to https://www.graydon.co.uk/understanding-international-credit-reports-CIN-members.

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 www.stecis.org or contact STECIS by sending an e-mail to info@stecis.org or call +31 20 528 5170.

Business Information: Recommended Reports and Business Shorts
UK GDP to exceed pre-recession peak earlier than expected in 2014. The British Chambers of Commerce (BCC) has upgraded its growth forecasts for the next two years – from 2.7% to 2.8% in 2014 and from 2.4% to 2.5% in 2015. The Q1 2014 Economic Forecast conveys increasing business optimism, with GDP expected to exceed its pre-recession peak in Q2 2014 – a quarter earlier than predicted in December 2013. To view the BCC's news release and link to the full Economic  Forecast go to http://www.britishchambers.org.uk/press-office/press-releases/uk-gdp-to-exceed-pre-recession-peak-earlier-than-expected-in-2014,-says-bcc.html.

Multiple retailers closed 16 stores a day on average in 2013. According to data compiled for PwC by The Local Data Company, Great Britain’s multiple retailers - shops with more than five outlets - closed 16 stores a day on average across the top 500 town centres in 2013, down from 20 a day in 2012. Photographic shops, women’s clothing and fashion shops, banks, video libraries, travel agents, mobile phone outlets, recruitment agencies and shoe shops were among the hardest hit. Charity shops, convenience stores, betting shops, cheque cashing and coffee shops bucked the trend by showing growth during the year. To view PWC's news release go to http://pwc.blogs.com/press_room/2014/03/multiple-retailer-closures-slow-from-20-stores-a-day-to-16-stores-a-day-across-great-britains-town-centres-in-2013-says-p.html.

Aberdeen named as the UK town or city with the lowest number of businesses becoming insolvent in 2013. Experian has revealed which towns and cities in the UK provided the best environment for business success in 2013 against four key measures (number of start-ups, rate of insolvencies, level of financial health, turnover growth) compared to 2012. Northampton took the top spot as the best performing city with the highest overall performance score, while towns in the South of England dominated the top slots with 65% of the best performing cities. Aberdeen was found to be the area with the lowest number of businesses becoming insolvent - just 0.28% of the business population compared to a national average of 0.93%. To view Experian's news release go to http://press.experian.com/United-Kingdom/Press-Release/experian%20reveals%20best%20performing%20uk%20towns%20and%20cities%20of%202013.aspx.

UK SMEs are owed £291 billion in outstanding invoices. British SMEs are owed £291 billion in outstanding invoices that they could use to fund future growth, according to new research published by Lloyds Bank Commercial Banking. The research also found that while almost half (49%) are aware of invoice financing, and around a third (36%) are aware of asset-based lending, only one in 11 businesses (9%) has used invoice financing in the past 12 months, and even fewer (5%) have used asset based lending. To view the full news release go to http://www.lloydsbankinggroup.com/media/press-releases/2014/lloyds-bank/uk-smes-are-sitting-on-770-billion-in-untapped-assets/.

Britain's manufacturers are enjoying increasingly strong growth. According to the latest quarterly manufacturing outlook survey by EEF and BDO, due to a combination of strong UK sales and a boost in overseas trade, Britain's manufacturers are enjoying increasingly strong growth. Tom Lawton, Head of Manufacturing at BDO commented: "It has been some time since all sectors have been moving in the right direction. The fact that this is underpinned by a significant strengthening of exports, especially to Europe, adds further stability to the foundations of growth." EEF's forecast for manufacturing growth in 2014 remains unchanged at 2.7%. However, EEF has increased its forecast for GDP growth to 2.6%. To view BDO's news release and link to the full report go to http://www.bdo.co.uk/press/eefbdo-manufacturing-outlook-survey4.

The UK's mid-sized businesses (MSBs) are strongly outperforming smaller and larger companies and driving economic growth. According to the new 'Agents of growth' report, from Grant Thornton UK, MSBs contributed £270 billion to the UK economy in gross value added terms - almost the equivalent of the real estate (£158 billion) and financial services (£108 billion) sectors combined. Total turnover is currently estimated at £712 billion, up, by 7.5% year on year – ahead of the 6.5% growth for large businesses and 0.8% increase for small businesses. In addition, the UK's MSB population has expanded by more than 5% since before the 2007 financial crisis, outpacing the number of larger (+1.6%) and smaller firms (-0.9%). To view Grant Thornton's news release go to http://www.grant-thornton.co.uk/en/Media-Centre/News/2014/UKs-forgotten-middle-powering-economic-recovery/.

UK economic activity set to surpass pre-recession levels by July. Nearly six years after the Global Financial Crisis first hit, the UK economy is finally set to grow past its pre-recession level in the second half of this year, according to the latest Business Trends report by BDO LLP. This predicted growth is fuelled by markedly strong optimism. In particular, BDO's Output manufacturing sector sub-index, often a strong indicator of economic health, has charged ahead by rising to 112.0 in February, compared to 111.3 last month. To view BDO's news release go to http://www.bdo.co.uk/press/uk-economic-activity-set-to-surpass-pre-recession-levels-by-july.

UK small businesses continue to show a sustained recovery says FSB. The latest Federation of Small Businesses' (FSB) Small Business Index shows that small business confidence has risen to 35.7 - breaking the record score of 33.5 in Q3 2013. Almost two thirds of small firms expect to grow in the next 12 months, and one in four plan to increase the amount they invest in their business. In addition, 25% of firms expect to see an increase in export activity in the coming three months and 10% report growth since Q4 2013. To view the FSB's news release go to http://www.fsb.org.uk/News.aspx?loc=pressroom&rec=8548.

Career Opportunities
Latest Opportunities
Senior Risk Underwriter. Salary £45,000 - £50,000, London. Good bonus scheme and benefits.
This long established credit insurer which has an outstanding reputation within the industry are looking to add a skilled Senior Risk Underwriter to its team. You'll be tasked with supporting the management and underwriting of a bonding portfolio, identifying opportunities to increase business including management of larger and more sensitive risks. To be considered you MUST have experience in the following: Bonding business including specific dynamics of business with emphasis on Risk Management. - Ability to build networks with close contacts to market players and opinion leaders, Business expertise: - In-depth knowledge in understanding of contractual situations would assist. - Demonstrate innovative thinking in proposal Risk solutions. Interpersonal skills:- Ability to interact with all levels, both internally & externally.- Ability to convince stakeholders in negotiations (Note: similar to the above - mortgage / payday loan / personal finance will NOT be considered). Please apply to Ben Wheaton on ben.wheaton@reedglobal.com or 0207 220 4777. (Please mention Credit Insurance News Digest when applying).

Political and Credit Risk Brokers.
An exciting opportunity has arisen with a successful brokers based in the city. Due to expansion and company growth they are seeking Political and Credit Risk brokers to build and maintain their portfolio of business. Principal tasks would include: Preparing market submissions and placing documentation, maintaining clear, accurate and comprehensive files reflecting the transactions undertaken on behalf of clients and communicating with clients and responding to questions. Candidates should have sufficient knowledge and understanding of financial analysis, accounting statements as well as a good knowledge and understanding of political and economic developments globally. Applicants must also have a good working knowledge of the UK regulatory requirements as they affect the business of the Political and Credit Risk business, and an awareness of legal and jurisdictional requirements in relevant territories. Knowledge of foreign languages is a bonus. If you feel you have the relevant skills and experience, please call Paul Hurrell on 0207 220 4777 or email paul.hurrell@reedglobal.com if you would like to discuss this further. (Please mention Credit Insurance News Digest when applying).

Credit Insurance Account Handler – West Yorkshire – Excellent Salary and Benefits
I’m currently recruiting on behalf of one of the UK's leading, privately - owned, independent Broking businesses in West Yorkshire. My client is looking for an individual who is able to administer client’s insurance requirements adhering to company policy to achieve targets, develop the business and deliver an excellent and comprehensive service. The role will be to develop strong relationships with clients. Deal with client renewals and mid-term adjustments as well as develop strong relationships with markets and to provide assistance in the creation of claims and broking documents. In order to apply for this Credit Insurance Account Handler role my client is looking for an individual who has 1 - 5 years experience working within Credit Insurance. To apply please contact Helen Spriggs on 0113 308035 or email your cv to helen.spriggs@search.co.uk. (Please mention Credit Insurance News Digest when applying).

Credit Insurance Underwriter, Atradius Singapore. Excellent salary and benefits.
A position is available for a Credit Insurance Underwriter at Atradius' Singapore office. The role includes analysing credit risk of SMEs, large enterprises and listed corporations across Japan for domestic and Global clients. The underwriter will also be responsible for setting appropriate strategies on companies/groups and underwriting credit limit decisions, managing a number of trade sectors with the view to become an expert in those industries and building relationships with Brokers, customers and buyers in the region. Prospective candidates should be university graduates with a bachelor degree or above focusing in finance, accounting, economics or business administration; and minimum of 3 years of work experience in a relevant field; good knowledge of the Japan market would be considered an advantage. Excellent writing skills and fluency in English is a must, as is the ability to read and speak Japanese on a professional level. To apply, please email anthony.rasera@atradius.com. (Please mention Credit Insurance News Digest when applying).

Risk Underwriter / Credit Analyst. Salary £35,000 - £40,000, London. Good bonus scheme and benefits.
This long established credit insurer which has an outstanding reputation within the industry is looking to add a skilled Risk Underwriter / Credit Analyst to its team. They work within a modern open plan office and have a very collegiate approach to the workload. You'll be involved in: Working on both new business submissions as well as portfolio analysis; Carrying out financial analysis through P&L, balance sheet, rating, credit agency, business information and any other available tools on clients' buyers to be able to offer credit limits; Reviewing a portfolio of buyers to ensure credit limits are reflective of their trading patterns; Identifying trends within your industry sector and advising your clients. To be considered you MUST have experience in the following: Credit analysis for a merchant acquirer / payment solutions provider; Credit analysis for a banking organisation with experience of UK markets; Risk underwriting for a credit insurer; Credit underwriting for asset based lending. (Note: similar to the above (mortgage / payday loan / personal finance will NOT be considered). Please apply to Ben Wheaton on ben.wheaton@reedglobal.com or 0207 220 4777. (Please mention Credit Insurance News Digest when applying).

Trade Credit Underwriter - New to market - London. Excellent salary and benefits.
New to the market today! I'm working with an outstanding insurer which is looking to recruit an experienced Underwriter into their Trade Credit team. Unlike most traditional insurers the Risk and Commercial functions are combined giving their underwriters complete autonomy and control. You'll be responsible for underwriting a portfolio of clients which will give you exposure to both domestic and international risks. Excellent package on offer for the right individual as well as the opportunity to work with a thriving, well renowned Insurer. Contact Kerren Leach at kerren.leach@eamesconsulting.com or call 0207 092 3283 for more details URGENTLY. (Right to work in UK essential). (Please mention Credit Insurance News Digest when applying).

Credit Risk Underwriter, London. Salary £40,000-55,000 basic plus bonus and benefits.
Mackenzie Stuart is looking to recruit the services of an underwriter specialising in Credit Risk or Trade Credit to join a leading insurance company who are currently recruiting for a Lloyd’s based opportunity. Our client is looking to appoint a strong and experienced candidate within credit risk or trade credit. The role will be predominantly London based, although some UK travel may be required. Duties and responsibilities include: Assessing credit limit requests, including new business and action these as appropriate; Monitoring limits in appeal and respond quickly; Liaising with policyholders and brokers regarding credit limit decisions, reasons for Nil limits and cancellations, etc. Candidates should preferably be educated to degree level, with 3-7 years experience within credit risk, as an analyst or underwriter. If you believe that you are appropriate for this role, please forward your Resume accordingly to george.bompas@mackenziestuart.com. Any questions regarding this role please contact 0113 233 9520. (Please mention Credit Insurance News Digest when applying).

Development Executive, Credit Insurance (Ref 24283634). Leeds. £25,000-£50,000 per annum.
Reed Insurance are working in partnership with a well respected and truly independent insurance brokers in West Yorkshire who are looking to appoint a Development Executive to help achieve their plans for growth within the field of credit insurance. This is a rare chance to join a unique business as they look to strengthen their presence within the market. The successful candidate will be responsible for developing a book of Credit Insurance clients through existing relationships and targeting new clients from a variety of industries. This is very much a client facing role and like any business development position, you will be responsible for generating leads as well as making and attending appointments to secure the business. You will work closely with the other members of the team to ensure that clients are always being offered an excellent level of service. In order to be successful in this role, you must have the ability to communicate effectively to all levels of people, be very passionate and enthusiastic about sales and have a proven track record in Credit Insurance from either a broker or direct insurer perspective. Please apply for this position if you have strong experience in broking/selling Credit Insurance policies. Email your CV to louise.kenyon@reedglobal.com or call me on 0113 236 8957 to be considered. (Please mention Credit Insurance News Digest when applying).

Regional Director of Credit Insurance, Hong Kong. £110,000 per annum + Bonus + Benefits (Circa 12% income tax!)
My client a global leader in the Life & Health insurance space is currently looking for a senior actuary with a strong background in Credit Insurance. The development and growth of the credit lines business is a key strategic initiative and requires a senior actuary to lead the overall credit lines business covering the APAC region. The successful candidate will be responsible for all Pricing, Product Development and will play a key role in business development opportunities with external banks, F/S houses. For more information and/or to submit you CV please email Gary Rushton at gary.rushton@ojassociates.com. (Please mention Credit Insurance News Digest when applying).

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 http://www.reed.co.uk/jobs/trade-credit-account-executive-london/23582378#/jobs/leslie-james-associates/p3230?keywords=credit%20insurance. If your background/experience genuinely matches this vacancy requirement, you should call Leslie James Recruitment directly on 0207 8732271 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 http://www.reed.co.uk/jobs/structured-credit-political-risks-account-handler-london/23387236#/jobs/leslie-james-associates/p3230?keywords=credit%20insurance. If your background/experience genuinely matches this vacancy requirement, you should call Leslie James Recruitment directly on 0207 8732271 to highlight your application. (Please mention Credit Insurance News Digest).

New Appointments
Marsh expands regional trade credit practice. Lorna Manley has joined the Marsh's Belfast office as a development executive. She joins Marsh from Aon’s political risk team in London. Also joining Marsh as a development executive is Rob Farquharson, who takes up a role at the Birmingham office.  To view Marsh's news release go to http://uk.marsh.com/default.aspx?tabid=1572&ID=36325.

Equinox Global has announced the appointment of John Joseph as a senior credit analyst, effective immediately.  John joins from RK Harrison and has also held credit analyst roles within Atradius Credit Insurance and Euler Hermes. 
John will report to Simon Philpin

New appointments at ACE Trade Credit. ACE Trade Credit has announced the appointment of Phil Bloom to the ACE Trade Credit team based in London. Phil has previously held senior roles at Coface and Euler Hermes. In addition, ACE has advised that Barry Robinson has moved to Singapore to bolster the Trade Credit team locally. Barry will continue to report into Stuart James.

About this issue's sponsor: S&P Capital IQ
Built on the 150-year heritage of Standard & Poor’s, S&P Capital IQ brings together key capabilities in research, strategy, evaluation, analysis, data and risk mitigation across asset classes and capital structures under one roof. Our suite of capabilities is designed to help insurers and other financial market participants to monitor market, credit and emerging risks, perform efficient analysis, generate alpha and identify trading and investment ideas.

With S&P Capital IQ solutions, you can gain access to in-depth credit ratings and research from Standard & Poor’s, company information on more than 3.6 million companies, both public and private, including fundamental financial data for nearly 750,000 companies, and alerts on key developments and industry news. We also offer comprehensive cross-reference capabilities, terms & conditions data, credit scoring tools and more to help support your Solvency II requirements.

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