European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

Cyber incidents have retained their position as the number one risk facing businesses in Europe during 2021, with business interruption (BI) in second place and pandemic outbreak third, finds a poll of risk experts and business leaders by Allianz Global Corporate & Specialty (AGCS). BI’s position is unchanged from last year, while pandemics are a new entry in the top…

Atradius says credit outlook is bleak for Bulgaria’s shipping and transportation sector

Atradius says credit outlook is bleak for Bulgaria’s shipping and transportation sector

Atradius says credit outlook is bleak for Bulgaria’s shipping and transportation sector

Trade credit insurer Atradius has forecast a bleak credit outlook for the shipping and transport sector in Bulgaria, with several other sectors – including construction, services, steel and textiles –  assigned a poor outlook. The country review comes as the Bulgarian economy looks to recover from a 4.3% contraction in 2020, driven by the impact of Covid-19. Atradius said credit…

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial (GC&C) has obtained ISO 9001:2015 certification for its risk engineering and loss prevention services in a number of countries around the world. The P&C unit has received the certification for its central team, as well as operations in Italy, Spain, Germany, Austria, central and eastern Europe, Russia, Asia and the UK. It was previously certified…

Aegon sells central European businesses to Vienna Insurance Group

Aegon sells central European businesses to Vienna Insurance Group

Aegon sells central European businesses to Vienna Insurance Group

Aegon will exit Hungary, Poland, Romania and Turkey after agreeing to sell its insurance, pension and asset management business to Vienna Insurance Group for €830m. The deal is expected to close in the second half of 2021. Aegon’s CEO Lard Friese said the sale will “simplify Aegon’s footprint” and strengthen its balance sheet. “We are sharpening our strategic focus and…

Czech insolvency levels set to rise at year-end as relief measures expire, warns Atradius

Czech insolvency levels set to rise at year-end as relief measures expire, warns Atradius

Czech insolvency levels set to rise at year-end as relief measures expire, warns Atradius

Corporate insolvency is expected to surge in the Czech Republic towards the end of this year as pandemic relief measures put in place by the government expire, warns credit insurer Atradius in a new country trading report. The report explains that an amendment to the country’s solvency law to halt insolvency proceedings and relieve the pressure of Covid-19 on businesses…

Atradius warns of increased trade credit risk in several Polish and Russian sectors

Atradius warns of increased trade credit risk in several Polish and Russian sectors

Atradius warns of increased trade credit risk in several Polish and Russian sectors

New country reports by Atradius warn that the credit risk outlook is bleak for the Polish automotive and transport sector and poor in other industries such as construction, machines, metals and steel, with increased likelihood of insolvencies. Meanwhile, the outlook is bleak for the Russian machines/engineering and textiles industries, and poor in several others. The country and sector reports help…

AXA XL makes appointments to leadership team in Europe and Asia

AXA XL makes appointments to leadership team in Europe and Asia

AXA XL makes appointments to leadership team in Europe and Asia

AXA XL has appointed Bruno Laval as chief distribution officer for Asia and Europe, and regional manager of European markets, under its new regional model. The firm has also named a new chief underwriting officer for the region and appointed heads in France, Germany, Switzerland and Asia-Pacific. Mr Laval, who was previously AXA XL Insurance’s regional manager for Europe, will…

CEE to benefit from post-pandemic supply chain risk reduction

CEE to benefit from post-pandemic supply chain risk reduction

CEE to benefit from post-pandemic supply chain risk reduction

Central and eastern European (CEE) countries are looking increasingly like beneficiaries of the impact of Covid-19 on global trade and supply chains, as European Union companies seek to bring their sources of supply closer to home. But companies in the CEE cannot rely on cheaper labour alone to take advantage of any post-pandemic supply chain shift. They will need to…

EU continues fight against rising protectionism and clarifies sanctions

EU continues fight against rising protectionism and clarifies sanctions

EU continues fight against rising protectionism and clarifies sanctions

The European Union’s efforts to tackle rising protectionism worldwide managed to generate some €8bn in additional exports during 2019. But trade barriers continue to grow and threaten the recovery from Covid-19, warns the EC. The Commission’s annual Trade and Investment Barriers report, published this week, reveals some notable successes in tackling protectionism, particularly in the food sector. Coordinated efforts by the…

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