Credit insurance market tightens as storm clouds gather

Credit insurance market tightens as storm clouds gather

Credit insurance market tightens as storm clouds gather

In the face of rising insolvencies, credit insurance prices are increasing and capacity is shrinking for high-risk sectors and markets, just as Brexit, trade wars and a global economic slowdown are driving increased demand for protection. The bad news for buyers is that trade credit insurers have raised rates and reduced limits in some key areas. Ian Watts, trade credit…

Credit risk rises with growing political and economic uncertainty

Credit risk rises with growing political and economic uncertainty

Credit risk rises with growing political and economic uncertainty

Heightened political and economic uncertainty is driving up credit risk, increasing the threat of insolvencies and supply chain disruption. According to the Organisation for Economic Co-operation and Development’s (OECD) latest outlook, the global economy is becoming increasingly fragile and uncertain. Downside risks continue to mount, with growth slowing to its weakest rate since the financial crisis. In particular, the OECD…

First global insolvency rise for decade, led by UK: Atradius

First global insolvency rise for decade, led by UK: Atradius

First global insolvency rise for decade, led by UK: Atradius

The level of global insolvencies has risen for the first time in a decade, led by the UK where the insolvency rate is expected to increase by as much as 10% in 2019, according to trade credit insurer Atradius. Across all developed markets, business failure rate increases are expected to rise 2.8% on average this year, largely driven by slower…

Trade credit insurers reducing exposure and raising rates over no-deal Brexit fears

Trade credit insurers reducing exposure and raising rates over no-deal Brexit fears

Trade credit insurers reducing exposure and raising rates over no-deal Brexit fears

The heightened risk of a no-deal Brexit is fuelling demand for trade credit insurance, but insurers are taking action to reduce their exposure to UK corporates and raising rates. Brexit is a big motivator for interest in credit insurance, according to Ian Watts, trade credit practice leader for Marsh JLT Specialty in the UK and Ireland. “Predictions of a large…

Hong Kong promotes risk management expertise for Belt and Road Initiative

Hong Kong promotes risk management expertise for Belt and Road Initiative

Hong Kong promotes risk management expertise for Belt and Road Initiative

The Insurance Authority (IA) of Hong Kong hosted a breakout forum at the recent two-day Belt and Road Summit that focused on the importance of risk management in projects under the Belt and Road Initiative (BRI). The session, held during the high-profile two-day event, also gave the IA and local risk and insurance professionals the chance to showcase how Hong Kong…

Political risk capacity rides high at more than $3bn

Political risk capacity rides high at more than $3bn

Political risk capacity rides high at more than $3bn

Capacity for political risks is riding close to an “all-time high” at $3.09bn and is also strong for buyers in the credit insurance market, according to analysis from broker Gallagher. It said that trade and secured non-trade government counterparty capacity stands at $3.12bn, with a further $2.48bn for trade and secured non-trade private counterparty risks. Capacity for unsecured non-trade stands…

Trade and political risk behind first Asia-Pacific insolvency rise since 2009

Trade and political risk behind first Asia-Pacific insolvency rise since 2009

Trade and political risk behind first Asia-Pacific insolvency rise since 2009

Developed Asia-Pacific countries face their first annual increase in insolvencies since 2009, and corporate insolvencies are on the rise globally to levels not seen since the credit crisis, according to credit insurer Atradius. The insurer’s latest analysis finds that in Asia-Pacific, regional insolvencies are forecast to tick up 1.8% this year partly because of slowing domestic GDP growth and trade…

Payment delays cloud Asia-Pacific outlook

Payment delays cloud Asia-Pacific outlook

Payment delays cloud Asia-Pacific outlook

Slowing trade growth in many Asia-Pacific countries is prompting businesses in the region to increase their use of trade credit in B2B transactions, according to credit insurer Atradius. Although the region is still the main growth engine for the global economy, and domestic demand remains robust, a number of negative risks are clouding the outlook, Atradius warns. An Atradius survey…

Atradius report highlights South American trading risks

Atradius report highlights South American trading risks

Atradius report highlights South American trading risks

Chile is the lowest-risk country in South America in terms of trading risk, according to a report from trade credit insurer Atradius looking at the five main South American markets. The report provides an update on the political and economic backdrop of the five markets: Argentina, Brazil, Chile, Colombia and Peru. According to Atradius, Chile ranked as the lowest risk…

Liberty Specialty Markets appoints head of trade credit multi-buyer

Liberty Specialty Markets appoints head of trade credit multi-buyer

Liberty Specialty Markets appoints head of trade credit multi-buyer

Paul Kunzer has been appointed as head of trade credit multi-buyer and excess of loss at Liberty Specialty Markets, part of Liberty Mutual Insurance. He will lead the development of Liberty Specialty Markets’ new trade credit offering for multi-buyer and excess-of-loss programmes, and will be based in Liberty Specialty Markets’ Chicago office. He will report to Alex Montoya, president of…

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