Trade Credit
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EU bankruptcies hit new peak
Corporate bankruptcy numbers in the European Union surged 3.1% in the second quarter of 2024 to reach a new high,…
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Tokio Marine HCC International bolsters UK trade credit division
Specialty insurer Tokio Marine HCC International (TMHCCI) has made two in-house appointments to its trade credit business in the UK.…
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Coface revenues down amid ‘sluggish’ economy
Credit insurer Coface has reported a 10% rise in net income during the first half amid a “sluggish economic environment”…
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Brokerslink launches trade credit insurance practice
A dedicated trade credit insurance (TCI) practice has been launched by Brokerslink, designed to offer trade credit expertise and increase…
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Fidelis syndicate 3123 begins underwriting at Lloyd’s
Fidelis’ syndicate 3123 has formally begun underwriting business at Lloyd’s, with an initial target to write $180m of GWP in…
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Consilium enters credit and political risk market
Global specialty (re)insurance broker Consilium has entered the credit and political risk insurance market, promising to offer insurance buyers the…
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Howden and Allianz Trade agree credit and political risk cover for exporters to Saudi Arabia
Howden and Allianz Trade will provide credit and political risk insurance to exporters looking at business opportunities in Saudi Arabia…
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Gordon Browne rejoins AIG from Allianz as global head of specialty
Gordon Browne will become global head of specialty at AIG, where he will replace Paul Greensmith, who has decided to…
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Bankruptcy levels in Europe begin to fall after 2023 peak
The number of businesses in the European Union entering bankruptcy fell from peak levels recorded in Q4 2023 by 0.8%…
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Coface names country manager for Italy
Trade credit insurer Coface has named Pietro Vargiu as country manager for Italy, taking over the role from Ernesto de…
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No evidence of major supply chain shift from China
Allianz Trade, the German insurance group’s credit insurance arm, says that despite much talk recently of a decoupling of supply…
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Italian credit insurer opens office in Singapore
Italian state credit insurer Sace has opened an office in Singapore that it says it will use to support a…
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New appointments at Belgian credit insurer Credendo
Christoph Witte has been appointed as new general manager of Credendo – Guarantees & Speciality Risks (GSR), a subsidiary specialising…
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Credit and political risk insurance broker BPL appoints new director
Lizzie Thomas has been appointed as director at BPL, the broker specialising exclusively in credit and political risk insurance. BPL…
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New Africa-focused syndicate launched at Lloyd’s
A new syndicate at Lloyd’s focused on underwriting business across Africa has been launched by Africa Specialty Risks (ASR). It…
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Allianz Trade UK and Ireland broadens trade credit policy
Allianz Trade has updated its UK and Ireland trade credit product to broaden standard cover and simplify the wording. The…
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New credit and political risks consortium launched by Antares syndicate
Antares syndicate 1274 has launched a credit and political risks insurance consortium. The maximum line for the consortium will initially…
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QBE Europe appoints new underwriting head for trade credit
Aidan Quinn has been appointed head of commercial underwriting for trade credit at QBE in Europe. He joins the European…
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Fidelis Partnership’s Syndicate 3123 gets in principle approval
Lloyd’s has granted in principle approval for the launch of The Fidelis Partnership’s Syndicate 3123, in collaboration with global specialty…
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Higher claims for trade credit insurers expected but strong financial buffers
The global economic slowdown will translate into a higher number of insolvencies and therefore higher claims for trade credit insurers,…