Insolvencies will rise across key Asian markets: Atradius

Insolvencies will rise across key Asian markets: Atradius

Insolvencies will rise across key Asian markets: Atradius

Global trade credit insurer Atradius has published four new reports, on the markets of China, India, Indonesia and South Korea, and expects rising insolvencies across the region as the impact of the Covid-19 pandemic continues to bite. Atradius points out that the coronavirus outbreak severely hit the Chinese economy in the first quarter of this year, immediately impacting retail and…

New head of credit and political risk team at Canopius

New head of credit and political risk team at Canopius

New head of credit and political risk team at Canopius

Canopius has promoted Stephen Pike as head of the credit and political risk team, part of Canopius’s credit, political and crisis (CPC) division. He reports to Bernie de Haldevang, who oversees credit and political risk as the overall head of CPC at Canopius. Mr Pike will lead the credit and political risk team, further developing its proposition across Europe and…

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…

Atradius appoints head of UK commercial

Atradius appoints head of UK commercial

Atradius appoints head of UK commercial

James Burgess has been appointed as head of UK commercial at credit insurer Atradius. He will assume overall responsibility for account teams and sales for both corporate and SME segments, while Richard Reynolds will continue to lead the strategic account segment. Mr Burgess has been with Atradius since February 2014 and will now join the UK and Ireland commercial management…

Atradius reports ‘huge’ rise in late payments as pandemic recession bites

Atradius reports ‘huge’ rise in late payments as pandemic recession bites

Atradius reports ‘huge’ rise in late payments as pandemic recession bites

New research from international credit insurance group Atradius reports that late payments have “soared” in the US, Mexico and Canada (USMCA) region as businesses are hit by the impact of Covid-19. The insurer’s annual Payment Practices Barometer analyses the payment behaviours and sentiment of businesses in the USMCA region. This year’s survey results reveal compromised cashflows and an increased reliance…

Global insurance recovery from Covid-19 will outrun economies, says Swiss Re

Global insurance recovery from Covid-19 will outrun economies, says Swiss Re

Global insurance recovery from Covid-19 will outrun economies, says Swiss Re

Global insurance premiums will stage a full recovery next year after the impact of Covid-19, says Swiss Re in a new Sigma report, with the pandemic raising risk awareness levels and demand for protection. Rates are expected to harden in commercial lines and take non-life insurance premiums above pre-crisis levels, Swiss Re says, adding that emerging economies led by China…

Chubb books $1.4bn Covid-19 loss

Chubb books $1.4bn Covid-19 loss

Chubb books $1.4bn Covid-19 loss

Covid-19 claims will cost Chubb $1.37bn in the second quarter of 2020, with total cat losses for the period nearer $1.81bn. Chubb said the bulk of Covid-19 losses at $605bn were from entertainment and commercial business interruption policies, as well as accident and health products including travel insurance. A further $553m of its Covid-19 losses is booked to liability products,…

Atradius forecasts 6.6% fall in GDP for advanced markets in 2020

Atradius forecasts 6.6% fall in GDP for advanced markets in 2020

Atradius forecasts 6.6% fall in GDP for advanced markets in 2020

Global trade is predicted to shrink by 15% this year as almost all countries around the world enter recession following the impact of Covid-19 on economies, according to trade credit insurer Atradius. Publishing its economic outlook, Atradius said it expects global GDP to contract by 5% in 2020 and stage a recovery in 2021 with a forecast of 6.5% growth,…

Australian risk managers advised to check credit policies

Australian risk managers advised to check credit policies

Australian risk managers advised to check credit policies

Risk and insurance managers with business in Australia need to take a proactive approach with their trade credit risk as the local market rapidly contracts in the face of Covid-19-related losses. As the standard cover dries up, particularly for the badly hit retail sector, risk managers also need to look out for exclusions being introduced for natural disasters and government…

Atradius warns of rise in supply chain fraud during pandemic

Atradius warns of rise in supply chain fraud during pandemic

Atradius warns of rise in supply chain fraud during pandemic

Trade credit insurer Atradius has detected a rise in fraudsters posing as companies during the Covid-19 pandemic. It said opportunistic fraudsters have exploited disruption to normal trade during lockdowns. Fraudsters are presenting themselves as credit-worthy businesses and looking for new suppliers from legitimate businesses, explained the insurer. Atradius said suppliers caught out in the scams hand over the goods but…

1 2 3 9