Credit risk spikes at eastern European businesses

Credit risk spikes at eastern European businesses

Credit risk spikes at eastern European businesses

Businesses trading with eastern European suppliers and customers are at an increased risk of payment default, according to Atradius. New research by the the trade credit insurer found that 86% of eastern European customers have received late payments on invoices during the past year, with 58% citing liquidity issues as the main reason. The report, which analyses data from businesses…

AXA Poland set to grow employee benefit business with multinationals top target

AXA Poland set to grow employee benefit business with multinationals top target

AXA Poland set to grow employee benefit business with multinationals top target

AXA’s Polish insurance company has paved the way to expand its employee benefits business and increase its list of global clients. AXA Poland has announced that it will work more closely with MAXIS Global Benefits Network (GBN), a global employee benefits network founded by MetLife and AXA in 1998, with ambitions to become the largest player in the local market.…

Wordwide Broker Network adds two new European members

Wordwide Broker Network adds two new European members

Wordwide Broker Network adds two new European members

Worldwide Broker Network (WBN) has added two new European members from Germany and Croatia to its broking and employee benefit network. Germany-based human resources management consulting company Lurse AG joins WBN with more than 25 years’ experience in human resource systems and processes across various sectors. The firm has in excess of 60 employees that provide consulting services in areas…

Generali in for the long run

Generali in for the long run

Generali in for the long run

The international corporate insurance market is becoming increasingly difficult as carriers struggle to balance stubbornly competitive underwriting conditions and low investment returns. There are few signs of this changing, so the recent process of consolidation should continue. This will leave risk managers with a smaller number of carriers willing and able to lead their primary programmes and deliver service on…

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re backpedalled a little on its corporate specialty business last year, but still wants to grow its portfolio in the longer term, especially in cyber space, according to comments made in the global reinsurer’s earnings call with analysts. Board member Torsten Jeworrek told analysts that the €4.8bn premium share from its risk solutions segment was down from €5bn. The…

BHSI offering stability to risk managers in volatile market

BHSI offering stability to risk managers in volatile market

BHSI offering stability to risk managers in volatile market

As many international corporate and commercial insurers struggle to find a way to make a decent return and deliver growth, Berkshire Hathaway Specialty Insurance seems to be able to buck the trend and continue to surge forward without making acquisitions. Adrian Ladbury asks: how and why is this possible? The continued process of consolidation and mergers and acquisitions [M&A] in…

AIG pulls out of CEE local business and much of Latin America: Remains committed to multinationals

AIG pulls out of CEE local business and much of Latin America: Remains committed to multinationals

AIG pulls out of CEE local business and much of Latin America: Remains committed to multinationals

AIG is selling its businesses in central and eastern Europe (CEE) and much of Latin America to Fairfax Financial Holdings Ltd in a deal that will see the US giant stop writing local business in these territories, but it still plans to provide full access to these markets for multinational clients via a network partnership with the Canada-based insurer.

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