|Welcome to issue 37 of Credit Insurance News Digest, 17 April 2014. This issue is kindly sponsored by Coface UK and Ireland.
Credit Insurance News
Coface launches EasyLiner, a new product for SMEs. Coface has announced that it has introduced a new solution in the UK and Spain which is targeted at SMEs. For a fixed price payable in instalments, EasyLiner is designed to offer a turnkey policy, and includes: monitoring to give SMEs information on the quality of their customers, collection of unpaid invoices and rapid indemnification in case of a claim. Coface advises that eligible SMEs will be able to configure online the insurance protection that is most suited to their profile and put in place protection against unpaid invoices in a few minutes. An integrated hotline will also be available for customers. The product will be rolled out progressively in the 66 countries where Coface is present, with solutions configured to take into account local market specialities, particularly with regards to payment due periods. For more information and to view Coface's news release go to http://www.coface.com/News-Publications/News/Coface-launches-an-innovative-offering-for-SMEs-EasyLiner-a-simple-on-line-solution-to-protect-against-unpaid-invoices.
- Credit Insurance News
- Credit Insurance Reports
- Industry Events and Offers
- Business Info: Recommended Reports
- Career Opportunities and New Appointments
- About this issue's sponsor
Atradius' Modula First launches in Australia: The small business sector is universally seen as the next growth area by major players in the Australian trade credit insurance sector. Atradius has featured in the recent issue of Insurance & Risk Professional Magazine in an article, 'Boom predicted in trade credit cover for SMEs', which looks at what credit insurance is and its current use in the Australian and Asian markets. David Huey, Managing Director of Atradius Oceania says that although take up has initially been slow, the “small business sector is universally seen as the next growth area by major players in the Australian trade credit insurance sector”. The article also mentions the recently launched product that Atradius has developed specifically for SME’s; Atradius Modula First, which is now available to Australian businesses with insurable turnover of less than $5 million. John Sutherland of QBE Australia, Kirk Cheesman of NCI and Coface's Paul McGahen are also quoted. To view the full article go to http://www.insuranceandrisk.com.au/6912b7f5/Boom_predicted_in_trade_credit_cover_for_SMEs. For more information about Atradius' Modula First policy go to http://www.atradius.com.au/products/creditinsurance/atradius-modula-first.html.
5% of US companies use trade insurance, versus up to 70% for European companies. Trade Financing Matters has published an article, 'Corporations Boost Finance with Trade Credit Insurance', which advises that trade insurance premiums underwritten for trade credit continues on a steady growth pattern, with 2012 trade credit insurance premiums amounting to $9 billion according to the Berne Union. This is due to favourable market conditions compared to the financial recession, as well as an increasing number of Asian companies using trade credit insurance - with premiums increasing 13% year over year to almost $1 billion. However, the article also reports significant global disparities in the take-up of credit insurance, with just 5% of US companies using the product, versus up to 70% for European companies. According to the article, part of this reason is the emphasis in Europe since World War II on insurance to foster trade. To view the full article go to http://spendmatters.com/tfmatters/corporations-boost-finance-with-trade-credit-insurance/.
The British Furniture Manufacturers Association (BFM) with Euler Hermes launch a New Credit Insurance Service. The BFM, in association with Euler Hermes, has announced that it has launched a new simple credit insurance policy for its members. Jackie Bazeley, Managing Director of the BFM commented: “British furniture is highly sought after world-wide, yet one of the biggest barriers to businesses entering the export market is the worry that they won’t get paid and the administrative nightmare that results in collecting a bad debt. This product looks to address this issue by providing the protection and peace of mind businesses need when trading in unfamiliar territories." Additional benefits for BFM members include: Access to 10 free credit opinions on key clients; a face to face no obligation consultation with a Credit Insurance Specialist; help with access to information on exporting safely. Simon Whittaker of Sagar Insurances, Insurance Broker to the BFM, commented: “Credit Insurance is crucial in giving a business the breathing space they need to thrive." To view BFM's news release go to http://www.bfm.org.uk/news/bfm-news/394-credit-insurance.html.
Ukraine crisis causes insurers to stop covering political and trade credit risks. Business Insurance has published an article which advises that the crisis in the Republic of Crimea has caused insurance underwriters to virtually stop writing political and trade credit risks in Ukraine, although they are still cautiously writing the coverages in Russia. Richard S. Maxwell, New York-based chief underwriting officer and global head of political risk and trade credit for XL Group, said: “For both countries, we're operating very cautiously and supporting clients . . . We're still open for business, but not business as usual." In addition, Alex Paton, head of underwriting at Equinox Global, advised that most trade credit underwriters at Lloyd's are currently off-risk for Ukraine and that a small number are writing, “very small lines at a very high price.” To view the full article go to http://www.businessinsurance.com/article/20140413/NEWS06/304139968?tags=|338|76|313|302. (Free registration may be required).
Euler Hermes expert examines the vital importance of trade credit insurance for SMEs in the UAE/GCC that want to trade and export. An article in CPI Financial, 'UAE/GCC, despite a solid economic growth, will face growing business risks', has advised that as the UAE and other GCC economies continue to increase, surpassing many developed and other emerging markets, economic risks are also rising substantially in the region. Massimo Falcioni, CEO of Euler Hermes GCC, said these economic risks would have to be managed intelligently and strategically for companies to sustain healthy profitability and highlighted the vital importance of trade credit insurance (TCI) as one of the most effective services offered to SMEs that want to trade and export. However, currently, although the GCC has an enormous GDP of AED 9.6 trillion, the total TCI premium in the region is only around AED 218 million - a penetration of just 0.004%, four times lower than the US and six times lower than Europe. To view the article on CPI Financial's website go to http://www.cpifinancial.net/news/post/26199/uae-gcc-despite-a-solid-economic-growth-will-face-growing-business-risks.
Atradius sponsors the UK Government’s Export for Prosperity campaign. Business Money has advised that to coincide with the UK Trade and Industry’s Export Week (week commenced 7 April), Atradius is urging British businesses to take advantage of the nationwide support available for trade overseas and is sponsoring the UK Government’s Export for Prosperity campaign. Marc Jones, head of sales, said: “Export trade is essential for successful business growth as well as to the wider economy but the limiting factor can be the fear of the unknown. Trading within new markets can bring with it new risks, particularly for businesses which are looking to new territories for the first time.” A complete guide to export is available free on the Atradius website - www.atradius.co.uk. To view Business Money's article go to http://www.business-money.com/announcements/businesses-urged-to-maximise-export-opportunities/.
ICISA advises that trade credit insurance claims varied widely from region to region in 2013. The ICISA has published its latest issue of the ICISA Insider which advises that its trade credit insurance members state that the market in 2013 was characterised by strong competition and local economic and political difficulties. This resulted in a claims picture which varied widely from country: larger average claims size in Asia, Northern Europe, Spain and Portugal; increased claims frequency in Germany, Latin America and the NAFTA region. In other markets the number of claims was less intensive. Looking ahead, the ICISA advises that the picture for 2014 is generally positive for its trade credit insurance as well as surety members. To view the full Insider, which also includes an interview with Dr. Kurt Karl of Swiss Re on “The Global Economic Outlook: Implications for Credit & Surety', and an overview of the rebrand of Credimundi, (formerly known as ICISA member Delcredere | Ducroire) go to http://mercury.cs135.remotion.nl/websites/ICISA_2010/files_content/The%20ICISA%20Insider%20%20April%202014.pdf. Note: readers of Credit Insurance News Digest readers can be added free of charge to the distribution list of The ICISA Insider, by sending a message to: email@example.com.
Coface UK & Ireland announces details of its 2014 Country Risk Conference to be held on Thursday 5 June at the British Library in London. A compelling programme includes a presentation from Dr Andrew Sentance, Senior Economic Adviser at PricewaterhouseCoopers, and a former member of the Bank of England’s Monetary Policy Committee, who will assess whether the UK economic recovery is sustainable and give a view on those sectors of the economy likely to grow. Other speakers will focus on geopolitical trends affecting trading risks and opportunities; how Continental Europe is recovering from recession and the implications for trade; and key issues for the automotive sector. Coface’s Chief Economist, Yves Zlotowski and UK Director of Risk, Grant Williams, will also give their expert perspectives on country risk around the world and the need for effective risk management whether the crisis eases or not. To view the full conference programme go to http://www.cofaceuk.com/News-Publications/News/Coface-Conference-to-Assess-Global-Trading-Risks-and-Opportunities-in-Time-of-Continued-Uncertainty.
Credit Insurance underwriters: "a second set of eyes that can spot changes in how customers do business." TFR (Trade & Forfaiting Review) has published an article, 'A Canadian corporate perspective on the benefits of trade credit insurance', which provides an overview of trade credit insurance as a tool to support sales with market intelligence, extended payment terms, coverage on buyers with a broad range of creditworthiness and protection in the case of a customer bankruptcy. The article author, Lina Chindamo - the finance manager of credit risk, reporting and collections, at Mondelēz International, advises that in Canada there is sometimes a misperception that receivables insurance somehow replaces the credit manager or that it’s too expensive. However, Ms Chinadamo stresses that receivables insurance underwriters are: " a second set of eyes that can spot changes in how customers do business". To view the full article go to http://www.tfreview.com/blog/canadian-corporate-perspective-benefits-trade-credit-insurance.
(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 email firstname.lastname@example.org quoting reference TFR17-2).
Coface lists the Ten Hot, New `Emerging’ Countries. Bloomberg Television's Angie Lau interviews Coface's Asia-Pacific Economist Rocky Tung. Tung discusses the ten new emerging markets which include: Colombia, Peru, Ethiopia, Kenya, Zambia, Tanzania, Sri Lanka, Bangladesh, the Philippines and Indonesia; all of whom have been growing rapidly and rely on trade with the BRICs and other emerging economies rather than advanced economies. He also outlines which of the ten has the strongest outlook. To view the clip go to http://www.bloomberg.com/video/the-ten-hot-new-emerging-countries-Etu4Wx8gRc2kBqfj7ajRqA.html.
A surge in demand for credit risk and political risks protection in the MENA region. Executive Magazine has published an article, 'Trading in an unpredictable region: Trade credit insurance can reduce the risk', which advises that the global financial crisis, followed by social and political instability has triggered a surge in demand for credit risk protection - including political risks, in the Middle East and North Africa (MENA) region. The article examines the benefits of credit insurance and the role of the ECAs and private credit insurers and concludes that growth of private credit insurance in the MENA region is an area of significant opportunity. To view the article go to http://www.executive-magazine.com/special-report/insurance-2014/trading-unpredictable-region.
A flat market, rather than lack of funding, is the major barrier to business growth in the South West. According to a recent Insider Finance Survey, 54.7% of businesses cite a flat market as a primary barrier to growth, compared to just 13.2% which need more finance. Other major barriers to growth were legislation and red tape (32.1%) and overheads and material costs (20.8%). Harry Holman, business consultant at Euler Hermes, commented: "Our statistic shows that businesses rapidly expanding or entering a new sector, can potentially face a significant increase in the risk of suffering a bad debt which can have devastating effects to their cash flow and profits." To view Insider Media's article go to http://www.insidermedia.com/insider/south-west/112313-flat-market-holding-back-businesses.
Euler Hermes' YouTube video explains Simplicity. Euler Hermes has posted a new video to YouTube which provides an overview of its Simplicity product, an 'off the shelf’, fixed-fee trade credit insurance policy which offers simple pricing and administration. Simplicity was launched in the UK and Ireland just over 1 year ago. To view go to https://www.youtube.com/watch?v=LNq5zSyMZpY.
Atradius Collections announces plans to launch a new office in Brazil. Atradius Collections has announced plans to open a new office in São Paulo, Brazil in May 2014. For more information and to view a video announcing the launch go to http://www.atradiuscollections.com/global/news/brazil-get-ready-for-business.html?utm_source=linkedin&utm_medium=statusupdate&utm_campaign=CG-2014,Brazil.
Solunion is named Best Trade Credit Insurer by ADECOSE. Solunion, the joint venture of Euler Hermes and MAPFRE, has been recognised by ADECOSE as the best trade credit insurance company in Spain. To view Euler Hermes' press release go to http://www.eulerhermes.com/mediacenter/news/Pages/Solunion-joint-venture-Euler-Hermes-MAPFRE-named-best-trade-credit-insurer-by-ADECOSE.aspx.
Credit Insurance Reports
Coface identifies 10 emerging economies hot on the heels of the BRICs. After 10 years of frenetic growth, Coface has advised that the BRICS are slowing down sharply. At the same time, other emerging countries are accelerating their development, among which Coface has identified a ‘top 10’ with good production prospects and sufficient financing to support expansion. The list includes: Colombia, Indonesia, Peru, the Philippines and Sri Lanka, all of which have a sound business climate (A4 or B), similar to that of the BRIC countries today. A second group (Kenya, Tanzania, Zambia, Bangladesh and Ethiopia) have very difficult (C) or extremely difficult (D) business environments which could hamper their growth prospects and may take longer to fully realise their growth potential. To view Coface's news release go to http://www.cofaceuk.com/News-Publications/News/Coface-identifies-10-emerging-countries-hot-on-the-heels-of-the-BRICS.
The Key to Business Success in the UAE. Atradius has announced that it will be holding a free webinar on 30 April 2014 at 15:00 CET. A panel of experts will discuss the economy, business culture and law of the United Arab Emirates as well as the opportunities and the logistics of trading in the UAE. The discussion will be led by award winning financial journalist and broadcaster Adam Shaw. To join the free webinar go to http://www.media-server.com/m/p/n6rr2v5p.
Euler Hermes: US Manufacturing reindustrialisation should continue. There is significant evidence that the resurgence of United States manufacturing will continue, according to Euler Hermes. Many factors contributing to the industry’s performance have improved as detailed in the company’s new economic report, 'The Reindustrialization of the US - A 2014 Update.' "The US manufacturing rebound is advancing even faster than we previously expected,” said Dan North, Euler Hermes North America Chief Economist. “Businesses are expected to invest $500 billion in US manufacturing in 2014, and a recent survey indicated that 54% of executives are planning to re-shore or are seriously considering it. Labor costs and skill, proximity to customers, lower transportation costs and supply chain efficiencies are making the US an increasingly desirable place for manufacturers to expand their businesses.” To view Euler Hermes' Economic Insight go to http://www.eulerhermes.us/economic-research/economic-publications/Documents/EI-Reindustrialization-US-2014-update.pdf.
Coface advises that the US is one of the best risks while emerging markets struggle. Coface has published its latest Country Risk Assessment, 'United States one of the best risks while emerging markets struggle', which advises that the upturn in the advanced economies (1.9% forecast for 2014, after 1.2% in 2013) is reflected in the upwards revision of the country risk assessments for the United Kingdom and the United States, which join the best risk category. In contrast, the level of risk has increased in the major emerging economies: the assessments for Brazil, Russia, Turkey and Venezuela have now all been downgraded or placed on negative watch. To view Coface's news release go to http://www.coface.com.hk/News-Publications-Events/News/Country-risk-assessments-United-States-one-of-best-risks-whilst-major-emerging-economies-struggle.
Atradius predicts that German business insolvencies will level off in 2014 after three years of decrease. Atradius has published its latest Country Report on Germany which advises that although, in 2013, the German economy grew just 0.4% - the lowest yearly growth figure since its strong 4% rebound in 2010 - looking ahead the picture is brighter. For example, in March 2014 Consensus Economics estimated that German GDP growth will accelerate to 1.8% in 2014, with a robust increase in German exports. In addition, the decline in the number of business failures should also continue; in 2011 and 2012 insolvencies decreased by 6% per year, and by 8.1% to 25,995 cases in 2013 - 11% lower than pre-credit crisis level in 2007. To view Atradius' report go to http://global.atradius.com/creditmanagementknowledge/germany/germany-cr-overview.html.
Coface publishes its Spring Panorama. Coface has published the Spring issue of its economic publication, Panorama. In addition to the identification of the emerging economies set to take over from the BRICS (see item above), the issue also examines country risk and business climate assessments changes and presents the latest adjustments to Coface's country assessments (which measure the risk of company defaults in a given country) along with an update to the country studies currently under the spotlight (i.e., Russia, Ukraine, Venezuela, Thailand, Turkey and the United States). To view a news release with a link to the Panorama go to http://www.coface.com/News-Publications/Publications/Which-emerging-countries-will-take-over-from-the-BRICS.
Atradius predicts that UK insolvencies will remain above pre-crisis levels in 2014. Atradius latest Country Report on the UK advises that the economic crisis years of 2008 and 2009 saw spectacular year-on-year increases of more than 20% in corporate insolvencies. However, since 2012 the number of business failures has fallen, and in 2013 the UK Insolvency Service recorded a 7.3% year-on-year decrease in compulsory liquidations and creditors‘ voluntary liquidations in England and Wales (14,982 cases). Atradius expects this positive trend to continue in 2014, with business failures forecast to decrease by around 3%. However, this still puts the number of insolvencies above 2007 pre-crisis levels at around 12,500 cases. The report also advises that UK economic growth is expected to accelerate in 2014, by 2.7%, followed by 2.5% growth in 2015. To view the full report go to http://global.atradius.com/images/stories/CountryReports/uk_april2014.pdf.
Euler Hermes report finds that German car manufacturers are in pole position in the Chinese market. A new report by Euler Hermes has found that German car manufacturers are in pole position in China - the world's largest automotive market. Overall, Western companies have a 60% market share, with German car manufacturers the top Western car manufacturers with a 20% marketshare. Cars and car parts made up over 17% of total exports from Germany in 2013. The report also notes that Japan has a 15.6% marketshare and the US has a 12.5% marketshare. To view Euler Hermes' news release go to http://www.eulerhermes.com/mediacenter/news/Pages/Euler-Hermes-industry-report-German-car-manufacturers-pole-position-Chinese-market.aspx.
Atradius advises that the consumer durables/non-food retail sector have to stomach increased costs and lower margins to maintain their sales. Atradius has published its latest Market Monitor report, 'Focus on consumer durables/non-food retail sector performance and outlook', which advises that signs of economic recovery have manifested in increased sales to consumers of items such as household appliances and electronic gadgets. However, the report also cautions that, in some countries, businesses within the consumer durables/non-food retail sector have maintained their sales primarily by bearing increased costs and accepting lower margins. In Germany, for example, increased sales are being achieved through price cutting, while higher input costs are proving a headache for manufacturers. Japan too has seen healthy growth in the sale of white goods, although operating profit has not kept pace with this sales growth. The report also looks at the industry in the UK, Canada and Brazil, each of which tells a different story. To view Atradius' report go to http://global.atradius.com/creditmanagementknowledge/market-monitor/latest-market-monitor.html.
CIFS consider if Russian fall out will affect UK business? CIFS has published an article in which James Steele-Perkins, Head of CIFS’ Single Situation and Political Risks Division, advises that President Putin’s virtual annexation of Crimea poses risks for credit managers across the UK economy - not simply those with direct exposure through Russian trade. For example, many major western banks have large-scale exposure to Russia and the UK - and German manufacturers in particular, notably Siemens, Thyssen-Krupp and VW have all invested heavily in Russia. Suppliers of funds to finance steel, copper, nickel, coal and agricultural production could also be constrained by possible bans on Russian companies winning EU contracts. However, James Steele-Perkins advises that perhaps the most serious impact comes from the threat of higher energy prices. To view the full article on CIFS' website go to http://creditindemnity.com/will-russian-fall-out-affect-uk-business/.
Atradius advises that 2014 will show progress in the Greek economic rebound. Atradius has published its latest Country Report on Greece which advises that Greek GDP is expected to have contracted by 3.8% in 2013 - better than the 5% fall expected a year ago. Atradius also advises that the forecast for 2014 shows progress in the economic rebound, with GDP now expected to contract by only 0.2% in 2014 - compared to the 2% previously forecast - and positive GDP growth of 1.7 % anticipated in 2015. The decreasing trend in the number of Greek business insolvencies (which saw increases of 30%+ in 2008-2012) also looks set to continue with an increase in business failures of 5% predicted in 2014 - 5% less failures than in 2013. To view the full report go to http://global.atradius.com/creditmanagementknowledge/greece/greece-overview.html.
Industry Events, Offers and Training
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 email@example.com 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.
Insuring Export Credit & Political Risk Asia. 23-26 June, Singapore.
This is the leading event for the export credit and political risk industry in Asia providing a unique opportunity to meet top executives from the region and internationally and hear the very latest industry news. Hear from 40+ speakers including representatives from WTO, KDB, ALCATEL-LUCENT, MIGA, DEUTSCHE BANK, SMBC as they focus on the latest issues in: trade, export & project finance; credit & political risk insurance; regional & global macro- economics & politics. For the latest brochure or to register, please visit: http://www.iiribcfinance.com/FKW52746CIN quoting VIP code: FKW52746CIN for a 10% discount.
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, 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 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 firstname.lastname@example.org or call +31 20 528 5170.
Business Information: Recommended Reports and Business Shorts
Late payment causes 20% of insolvencies, says R3. R3 had advised that late payment by customers for goods and services is a primary or major factor in one-in-five corporate insolvencies. A ComRes survey of R3 members also found that 47% of corporate insolvency practitioners had seen at least one instance of late payment being a primary or major factor in a business’ failure in the last year. 59% of corporate insolvency practitioners said that the construction sector had the worst track record for paying bills on time, while 5% of corporate insolvency practitioners identified the wholesale and retail sectors as the worst offenders. In 2012, one-in-five liquidated companies in England & Wales were in the construction sector. To view R3's news release go to http://www.r3.org.uk/index.cfm?page=1114&element=19763&refpage=1008.
Businesses fight late payment fire with fire. Hilton-Baird Collection Services’ most recent Late Payment Survey had reported that almost half (49%) of UK businesses are putting off paying their suppliers as a direct consequence of being paid late themselves. In total, 88% were adversely affected by late payment last year, with businesses commonly having to increase borrowing (32%), pay HM Revenue & Customs later (19%) and even turn away new business (9%) as a result. To compound matters further, 27% revealed the most common late payment excuse they received was that customers were waiting for their own customers to pay. A free eBook, providing businesses with top tips and best practice advice to safeguard their cash flows from the threat of late payment can be downloaded at: www.hiltonbaird.co.uk/CS/LZ/The-Essential-Guide-to-Credit-Control/. To view Hilton-Baird's news release go to http://www.hiltonbaird.co.uk/Business-Finance-Blog/248/Businesses-fight-late-payment-fire-with-fire/.
UK business distress hits record low. According to the latest Business Distress Index from R3, a record low of 33% of British businesses are showing signs of business distress. R3 has tracked five key indicators of business distress (decreasing profits, sales volumes, market share, the regular use of maximum overdraft facilities, new redundancies) since March 2012, and has found in the latest survey that all indicators are at or near record lows. Overall, the share of businesses experiencing at least one sign of distress is now almost half the 64% of businesses in the same position when the survey first started in March 2012. R3’s latest survey also found that 65% of businesses are showing at least one sign of growth. To view R3's news release go to http://www.r3.org.uk/index.cfm?page=1114&element=19746&refpage=1008.
Just 20% of UK high street shops affected by administration in last five years remain vacant. According to new research from Deloitte, just 20% of high street shops affected by 27 high profile administrations since 2009 are still vacant. Using Local Data Company (LDC) data on nearly 5,900 shops, Deloitte’s analysis shows that the high street is far outperforming retail parks and shopping centres, which have respective vacancy rates of 37% and 29% for space formerly occupied by these retailers. Discount stores account for nearly one in five of all re-lettings of shops vacated as a result of administrations in the study. Convenience stores have also expanded strongly, accounting for nearly 12% of space acquired post-administration. To view Deloitte's news release go to http://www.deloitte.com/view/en_GB/uk/industries/consumer-business/083873bccb725410VgnVCM3000003456f70aRCRD.htm.
Financial distress among UK businesses has decreased by 7% year on year, but is up 4% on a quarterly basis. According to the latest Begbies Traynor Red Flag Alert for Q1 2014, which monitors the financial health of Corporate UK, levels of ‘Critical’ financial distress among UK businesses has decreased by 7% year on year. Construction, financial services and travel & tourism saw some of the largest declines in distress, falling 15%, 31% and 11% respectively. However, and in contrast, on a quarterly basis, distress levels have increased by 4%, reversing the positive trend experienced over the previous three quarters when distress levels consistently declined. This sudden increase can partly be attributed to seasonal factors such as the effects of unusually heavy rainfall experienced across the UK, which amplified the usual lull in consumer spending following the busy festive period. At the same time, financial pressures have intensified for businesses across all sectors in the lead up to the 5 April deadline, as creditors and directors take action ahead of filing accounts for the new tax year. To view Begbies Traynor's news release go to http://www.begbies-traynorgroup.com/begbies-traynor/news/14-04-16/recovery_firmly_established_as_financial_distress_levels_reduce_year_on_year_but_q1_bites_back.aspx.
BCC Quarterly Economic Survey: service sector exports at new all-time high. The British Chambers of Commerce’s (BCC) Q1 latest Quarterly Economic Survey provides further evidence that the UK economy is continuing to grow. The results show that both export orders and sales in services are at new all-time highs, and for both manufacturing and services all the major Q1 balances are stronger than their long-term averages - with most higher than their 2007 pre-recession level. However, the BCC believes that the recovery must become more balanced in the months ahead as it is still too reliant on consumer spending. In addition, access to finance remains a critical issue for businesses as they look to expand and meet growing order books. To view the BCC's news release with links to the full report go to http://www.britishchambers.org.uk/press-office/press-releases/bcc-quarterly-economic-survey-service-sector-exports-at-new-all-time-high.html.
London is undisputed business capital of Europe. More of the world’s largest companies make London their European home than any other city, according to new research from Deloitte. 40% of the largest 250 companies, which are either European or have a European headquarters, are based in London. This compares with 8% in Paris and 3% in Madrid. Of the non-European companies in the 250, 60% have selected London as their European headquarters. To view Deloitte's news release go to http://www.deloitte.com/view/en_GB/uk/market-insights/uk-futures/b1ee2bd1f1c25410VgnVCM3000003456f70aRCRD.htm.
Irish companies: an average of 50 start-ups per day. According to latest data from Vision-net.ie, over 5,000 company start-ups have been incorporated in Ireland so far this year - the highest number seen since 2007. Vision-net.ie's latest figures also show that 5,034 Irish companies were set-up between the 1st January and 10th April 2014 - an average of 50 start-ups per day - up almost 20% on the same period last year and the highest that's been recorded in Ireland since 2007 (when 5,296 companies were formed). The most popular industry for company start-ups was the professional services sector which accounted for 25% of new companies. The wholesale & retail and social and personal sectors are the next most popular industries, and make up 11% and 8% of start-ups respectively. To view Vision-net's report and research go to http://www.businessbarometer.ie/index/week-210.
Grant Thornton research identifies Britain's fastest-growing Indian companies. Indian companies are playing an increasingly important role in the British economy, contributing to positive GDP and employment growth, according to Grant Thornton UK India Tracker 2014 report, developed in collaboration with the Confederation of Indian Industry. The report, which monitors UK registered businesses with ultimate Indian parent companies to identify the fastest-growing corporates by turnover and employment size, finds that there are currently over 700 Indian-owned small to large sized businesses in the UK, collectively employing over 100,000 individuals. Of these, Grant Thornton identified 41 organisations experiencing year-on-year growth rates of more than 10%, with more than half (26 corporates) demonstrating particularly strong growth in excess of 20%. To view Grant Thornton's news release go to http://www.grant-thornton.co.uk/en/Media-Centre/News/2014/Grant-Thornton-research-identifies-Britains-fastest-growing-Indian-companies/.
Credit Risk Analyst/Underwriter, Atradius. Hong Kong (for training purposes) before transferring to Taipei on a permanent basis. Excellent salary and benefits.
Atradius Credit Insurance N.V. is looking for a Credit Risk Analyst/Underwriter to join the Risk Services team for the North Asia team. The role will be initially begin in Hong Kong with a view to be relocated and based in Taipei, Taiwan within 12 months. Duties include: analyzing credit risk of listed corporations, large enterprises and SMEs in a number of Asian countries; setting appropriate strategies on companies and underwriting credit limit decisions; managing a number of trade sectors with the view to become an expert in those industries; presenting detailed review reports to the credit committee on large size cases. Candidates should be university graduates with a bachelor degree or above focusing in finance, accounting, economics or business administration and have 2 to 5 years of work experience in a relevant field. Flexibility in work travels, excellent writing skills and fluency in English and the ability to read Chinese and speak Mandarin are also required. An ability to understand and speak Taiwanese Hokkien will be looked upon favourably. You are invited to send in your application by email to Tommy Yu (email@example.com). Please attach in your application: Resume, cover letter, salary expectations and academic transcript. (Please mention Credit Insurance News Digest when applying).
Client Executive, HCC International. Competitive salary and attractive benefits.
This role within our Credit Insurance Division involves working with brokers to manage a portfolio of credit insurance clients. The post is likely to be Leicester based with travel around the UK but could be a home-based position covering a local portfolio of clients. The ideal candidate will be an experienced relationship manager within the financial services sector, ideally with a credit insurance or similar background. We offer an excellent working environment together with an attractive benefits. If you would like to apply for this position, please telephone Jane Thorpe on 01664 423268 or email firstname.lastname@example.org for an application pack. Closing date for completed applications is Monday 28 April. No Agencies please. (Please mention Credit Insurance News Digest when applying).
Credit Insurance Account Executive, West Yorkshire. Generous basic salary plus a wide range of company benefits.
This prestigious broking firm has a branch network spanning much of the UK, with strong presence locally, seeks an experienced Credit Insurance Account Executive to join its Regional Head Quarters in West Yorkshire. This firm has a solid commitment to the Yorkshire region, with credit insurance very much recognised as one of its core business activities. As such, this role boasts an enviable level of job security in the current climate. As a Credit Insurance Account Executive, responsible for the day to day management of a diverse portfolio of clients, you will advise upon the most appropriate credit insurance programme to suit their requirements, using your influence with specialist credit insurers to secure comprehensive levels of cover, at a competitive premium. You will also work with colleagues in the marketing team to actively prospect and secure new business. Building a strong level of professional rapport with your clients, you will create a culture of credit control best practice, dealing with limit extensions and providing ongoing advice in relation to day to day enquiries. You will also oversee claims arising within your portfolio, supplying the relevant claims MI to insurers when preparing renewal reports. To assist you in the proactive management of your portfolio you will need to work in close conjunction with the in-house Credit Insurance Broking and Admin Teams.It is essential that you have extensive experience within credit insurance, ideally gained in a broking environment. Exposure to other products under the wider ‘Credit Risks’ banner, such as Political Risk or Surety, would certainly add weight to your application. In addition, our client is eager to hear from those individuals who have made progress, or can demonstrate a commitment to, gaining professional qualifications from the Chartered Insurance Institute or Institute of Credit Management. For more information and to apply please go to http://astoncharles.co.uk/opportunities/credit-insurance-account-broking-yorkshire-insurance/#sthash.eiLhxLE8.dpuf or contact Richard Jones at RichardJones@astoncharles.co.uk. (Please mention Credit Insurance News Digest when applying).
On the Road Credit Analyst, Euler Hermes Manchester. Competitive remuneration package including bonus, non-contributory pension, home working and additional benefits.
An exciting opportunity has arisen to join our Manchester Risk Office team. If you enjoy working in a role which requires financial analysis, high level meetings, and portfolio management, then this is the role for you. You will be a self-sufficient individual with the ability to proactively work on your own initiative, including management of your diary, to ensure that you are able to effectively monitor a portfolio of risks in the North West of England.. Your key objectives will include, but will not be restricted to, the activities required to monitor companies in your portfolio and mitigate/prevent claims. In order to work in this role you will need experience in financial analysis, and conducting meetings, have good business acumen, gravitas and integrity. Key skill required include: Education to degree standard or equivalent or banking/finance/insurance experience with a relevant professional qualification; Proven experience of analysing financial, economic and other information to assess credit risk; Extensive experience of reading and interpreting profit and loss, balance sheets and other financial documents; Experience of holding high profile meetings with influential heads of business; Exceptional interpersonal skills; Proven report writing proficiency; Full clean UK driving license. Please apply through the e-recruitment system located on the careers page of our website. Or alternatively, click here. (Please mention Credit Insurance News Digest when applying).
Senior Trade Credit Underwriter, London. Salary to £85,000.
This trade credit insurer based in London is looking for an underwriter to join their commercial team. This role will be focusing on larger clients throughout the UK with some based in Europe through a network of brokers based in London and the UK. You will be responsible for developing broker relationships, marketing the products on offer, pricing and pitching to win the business as well as ensuring that existing clients get excellent service. In that respect you’ll be both account managing and generating new business through your broker relationships. Ideally you should have spent some time working within Risk Underwriting as the company align their Risk Underwriters very closely with their Commercial Underwriters, but empower their commercial underwriters to have full decision making autonomy. This firm have a very healthy risk appetite and are looking to continue to grow the book. If you’re interested in this opportunity please contact Kerren Leach on email@example.com or 0207 092 3283 / 07841 917187. (Please mention Credit Insurance News Digest when applying).
Associate Director, Political Risk. London.
An exciting opportunity as arisen with a leading insurance brokers based in the city. My client are seeking an Associate Director to join their Political Risk team. Working with a new team Director on new business, planning, client development, presentation, enquiries and placements. You will be broking with both Lloyds and company markets, exposure will also likely to be gained with multilaterals. Utilising their political risk platforms to best client advantage. You will be assisting the team in managing new and existing policies, in particular premium endorsements. Ideally you will be a university graduate having gained 2.1 in Economics,Law or Social Sciences. Fluent in other languages will also be desired. You will have at least 5 years experience in the Political Risk Market from either a broking or underwriting in the banking and trading space. Strong negotiation and interpersonal skills with a commercial desire to develop in a hard working and dynamic team. If you feel you have the relevant skills and experience, please apply within. If you would like to discuss this further, please call Paul Hurrell on 0207 220 4777 or email firstname.lastname@example.org. (Please mention Credit Insurance News Digest when applying).
Political Risk Broker, London.
An exciting opportunity as arisen with a leading insurance brokers based in the city. My client are seeking a Political Risk Broker to join their ever growing team. Initially working with a new team on client development and enquiries. You will be broking with both Lloyds and company markets, exposure will also likely to be gained with multilaterals. Developing relationships with these markets will be key. Developing a feel for good risks and bad and benchmarking pricing in order to service client better. Ideally you will be a university graduate having gained 2.1 in Economics, Law or Social Sciences. Fluent in other languages will also be desired. You will have at least 2 years experience in the Political Risk Market from either a broking or underwriting background. Strong interpersonal skills with a commercial desire to develop in a hard working and dynamic team. If you feel you have the relevant skills and experience, please apply within. If you would like to discuss this further, please call Paul Hurrell on 0207 220 4777 or email email@example.com. (Please mention Credit Insurance News Digest when applying).
3 Vacancies at African Trade Insurance Agency (ATI): Senior Underwriter, Senior Accountant and Senior Investor Relations Officer. Competitive remuneration packages.
Established by African States with the financial support from the World Bank, the African Trade Insurance Agency (ATI) is a multi-lateral development institution that provides commercial and political risk insurance, credit risk insurance, co-insurance, reinsurance and other related financial services in its 10 African Member States to promote trade and attract investments in Africa. The above key career opportunities are available. These roles require candidates with exceptional skills, experience and the ability to fit into this middle management and multilateral setting. Additional details and applications for these openings are available on ATI’s website: To apply, please submit an application letter, curriculum vitae, ATI’s Personal History Form (available on ATI’s website), details of your current remuneration package to firstname.lastname@example.org. The closing date for application is 24 April 2014 at midnight Nairobi time. Only candidates meeting the minimum requirements and submitting applications in compliance with the points above will be considered for this position and only short-listed candidates will be contacted. The African Trade Insurance Agency offers a competitive remuneration package and a collegial working environment commensurate with other multilaterals. ATI reserves the right to suspend the recruitment process, to make an appointment at a lower grade, or to make an appointment with a modified job description. Please note that canvassing will disqualify you from consideration in these roles. (Please mention Credit Insurance News Digest when applying).
Client Manager, Aon Trade Credit. Reading. Competitive salary, plus a comprehensive benefits package.
Aon is currently recruiting a Client Manager to join our Trade Credit team based in Reading. As a Client Manager some of your key responsibilities will involve: Under instruction and direction of Client Directors, helping with renewal, retention and growth of existing accounts with effective client relationships and ongoing servicing needs. Working on a portfolio of accounts to ensure that relevant information is shared among client team and required actions are taken to meet clients' needs. Acting as a contact within a broking team for a portfolio of clients to ensure client needs and expectations are met. Dealing with Client and Insurer day to day matters arising e.g. chasing/questioning/broking credit limit decisions, following up progress on reported buyers overdue in making payment to client for goods sold and delivered on credit terms. Assisting with preparation for Policy renewals. Where appropriate liaise with Aon network on Global Client outward/inward business. Developing and improving the day to day client relationship and client experience. Providing advice to clients and colleagues on market developments and sharing knowledge of market trends to enhance the overall value proposition. As a Client Manager your skills and qualifications will ideally include: Educated to A Level standard or equivalent, with work experience in Credit Management, trade finance, and or international affairs. An understanding of, and interest in, the Insurance market. CII progress and an understanding of the client including risks, strategic and financial drivers would be advantageous An enthusiastic and innovative Team player, with the ability to handle significant workflow through efficient time management. To apply, please contact Samantha Cook at email@example.com or call 0207 0860181. (Please mention Credit Insurance News Digest when applying).
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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org. (Please mention Credit Insurance News Digest when applying).
Trade Credit Account Manager, North West. £35,000 DOE.
This well-known organisation based in the North West is looking for an outgoing and experienced Account Manager to oversee a portfolio of clients. You'll be responsible for regular liaison with these clients during their policy holding period whilst assisting them through the renewal. It's key that you have excellent service skills and a good understanding of the credit insurance market. Excellent opportunity to further develop your career and profile within the industry. Please contact email@example.com or 07841 917187 for an informal discussion. (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 firstname.lastname@example.org. (Please mention Credit Insurance News Digest when applying).
Trade Credit Underwriter, London. Excellent salary and benefits. £45,000 - £55,000 DOE.
I'm working with an outstanding insurer for which growth is high on the agenda. They’re looking to recruit experienced underwriters 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 email@example.com or call 0207 092 3283 for more details URGENTLY. (Right to work in UK essential). (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 firstname.lastname@example.org or 0207 220 4777. (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 email@example.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 firstname.lastname@example.org or call me on 0113 236 8957 to be considered. (Please mention Credit Insurance News Digest when applying).
New Country Manager for Coface Ireland. Ms Roslyn Keogh has been appointed the Country Manager for Coface Ireland, and will head up a team whose aim is to grow Coface business in the Republic of Ireland and Northern Ireland. Roslyn joined Coface in September 2010 as Commercial Manager. She has 15 years experience in the Credit Insurance market in Ireland.
New appointment at CIFS. Nexus CIFS has announced that it has expanded its risk underwriting team with the appointment of Paul Spinks, who joins the company from Euler Hermes. Mr.Spinks holds a first class degree in Business and Accounting and specialises in managing risks and client relationships in the construction and timber sectors. In his new role he will initially be focused on strengthening CIFS capability in these major credit insurance areas.
New appointments at AIG. AIG in Europe has announced three new appointments to its Trade Credit team. Oliver Lambert has been appointed Trade Finance Manager, Ulf Cramer joins AIG to head up its Trade Credit Insurance Excess of Loss and Trade and Marius Wolmaran has taken up a new role managing the development and growth of multi-national business across EMEA. Oliver and Marius will be based in London and Ulf in Frankurt.
New appointment at BPL Global. BPL Global has announced the appointment of Sian Aspinall as Development and Technical Director. Sian previously provided consultancy services to insurers, loss adjusters, brokers and law firms, and was formerly Senior Vice President, Trade Credit and Political Risk at Zurich.
About this issue's sponsor: Coface UK and Ireland
Coface – A trade risk expert and a worldwide leader in Credit Insurance.
Coface has been supporting the development of trade since 1946 and is now a worldwide leader in domestic and export credit insurance.
Every day, the Group’s 4,400 employees located in 66 countries secure the sales made by our 35,000 client companies in over 200 countries. In close partnership with them, we advise at every stage of their business life cycle, helping them to evaluate their risks and make the right decisions.
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