New business rose across the world in 2017

New business rose across the world in 2017

New business rose across the world in 2017

New business grew across the world last year in almost all areas, according to the Berne Union. In its annual report,  launched this meeting at a meeting in Kenya, it reveals preliminary statistics which indicate that, as a result of favourable growth in global trade and GDP in 2017, Berne Union members reported an uptick in new business in almost…

European commercial rates fall despite first global increase for five years: Marsh

European commercial rates fall despite first global increase for five years: Marsh

European commercial rates fall despite first global increase for five years: Marsh

Global commercial insurance rates rose for the first time in five years during the last quarter of 2017, almost exclusively due to a rise in property premiums, according to Marsh’s Global Insurance Market Index. But while rates were up 0.9% in the UK, they fell by 1.1% on average in continental Europe despite the pace of decline slowing. Marsh said…

South Sudan becomes latest member country of ATI

South Sudan becomes latest member country of ATI

South Sudan becomes latest member country of ATI

South Sudan has now completed its membership of the African Trade Insurance Agency (ATI), while in his New Year message President Salva Kiir Mayardit emphasised the need to build a peaceful, prosperous, secure and stable country. With financial support from the African Development Bank (AfDB), South Sudan was able to complete its membership with an initial share capital subscription of…

Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer, a consultant in health, wealth and career, is expanding its francophone Africa footprint. It has plans to strengthen service to the francophone region of Africa, through its new Casablanca Financial City hub in Morocco. Mercer, a wholly owned subsidiary of Marsh & McLennan, will bolster its health business and further penetrate the African market with wealth and career solutions.…

Country and sector risk reducing in Europe: Coface

Country and sector risk reducing in Europe: Coface

Country and sector risk reducing in Europe: Coface

Political and other risks are reducing in several European countries, Coface said in its worldwide country and sector risk analysis of the past quarter. Coface said the European region, particularly its emerging countries, is benefiting from a recovery in the global economy that has led to upgrades for the risk ratings of several countries including Hungary, Finland, Cyprus and Belarus.…

Comoros joins Afreximbank

Comoros joins Afreximbank

Comoros joins Afreximbank

Comoros has become the latest African state to join the African Export-Import Bank (Afreximbank). The bank said the decision takes it one step closer to full coverage of the African continent. Comoros activated its membership as Afreximbank’s 46th participating state on 12 September when Said Ali Said Chayhane, the minister of finance and budget, signed the instrument of accession to…

Expert insight essential for strong risk management

Expert insight essential for strong risk management

Expert insight essential for strong risk management

Tunisia and Morocco are set for economic growth this year, while Algeria and Egypt may suffer a decline, according to a new report from trade credit insurer Atradius The report analyses the political and economic situations of four north African countries, as well as ranking the performance of individual sectors within each and assessing their political and credit risk. Alun…

Pensions under threat in Nigeria

Pensions under threat in Nigeria

Pensions under threat in Nigeria

The Pension Fund Operators Association of Nigeria (PenOp) is warning that pension assets valued at NGN6.5trn could be at risk if plans to change the pension system become law. PenOP president, Eguarekhide Longe, said one bill would amend the Pension Reform Act 2014 to exclude members of the Nigeria Police, the Nigerian Security and Civil Defence Corps, Nigeria Customs Service,…

South Africa’s signs of recovery remain fragile

South Africa’s signs of recovery remain fragile

South Africa’s signs of recovery remain fragile

Economic growth of 1.3% is expected in South Africa for this year but, alongside the improved forecast, weakness in confidence and deteriorated market sentiment could continue to have a negative impact on the economy overall, warns trade credit insurer Atradius. Publishing an economic research report on South Africa, following the news that the nation has officially entered a recession, Atradius…

New trade credit insurance product launched

New trade credit insurance product launched

New trade credit insurance product launched

Coface has launched TradeLiner Capital Goods, to protect sales of capital goods and services on a single-transaction basis. The company said the cover will protect companies against three major risks: non-payment, pre-shipment and unfair calling bonds, while freeing companies from the burden of debt recovery. “The insurance covers every stage of the transaction from commercial negotiations to completion of the…

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