Credit Insurance News

Trade credit insurance and surety have experienced robust growth. Swiss Re has published a report that stresses the 'vital role' trade credit insurance and surety play in enabling global economic activity. Swiss Re estimates that trade credit insurance and surety covers generated combined global premiums of USD33.4 billion in 2022 – about 1-2% of total Property & Casualty insurance premium worldwide – and, over the last twenty years, has grown globally by about 5-6% annually on average, in line with average world GDP growth (5.5%). Although, since Swiss Re's last report in 2014, global penetration rates in trade credit insurance have eased slightly, the shares of premiums across different regions have remained relatively stable. To read Swiss Re's news release go to https://www.swissre.com/reinsurance/property-and-casualty/reinsurance/credit-surety-and-political-risk-reinsurance/trade-credit-insurance-in-an-age-of-economic-uncertainty.html.

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A common credit insurance hub: The solution to streamline credit insurance? Trade Finance Global (TFG) has published an article examining how improving the standardisation and digitalisation of the industry and enabling all stakeholders – policyholders, brokers, insurers, banks, and investors – to connect via a common platform or ‘credit insurance hub’ could benefit the industry. For brokers, this would streamline the process of sourcing the right solution for each client, with the ability to quickly connect to several insurers through one access point. For insurers, a common exchange would provide a centralised distribution channel, giving them access to more brokers and clients. "Eventually, as more insurers, brokers, and insured join the hub, momentum will build and drive the entire industry to continuously improve through product innovation and technology, securing a viable long-term future for modern credit insurance." To read TFG's article go to https://www.tradefinanceglobal.com/posts/a-common-credit-insurance-hub-the-solution-to-streamline-credit-insurance/..

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IFC signs a $3.5 billion credit insurance policy with thirteen global insurers. Reinsurance News has reported that International Finance Corporation (IFC), a global development institution focused on the private sector in emerging markets, has signed a $3.5 billion credit insurance policy with thirteen global insurance companies (Liberty Specialty Markets, Munich Re, the Tokio Marine Group, AXA XL, Everest, Aspen, The Hartford, Swiss Re, AXIS Capital, HDI Global Specialty, Allianz Trade, Sompo International, and SCOR) under its Managed Co-Lending Portfolio Program. The program aims to increase access to finance for micro, small and medium enterprises, including women-owned businesses, as well as firms addressing climate change. To read Reinsurance News' article go to https://www.reinsurancene.ws/ifc-signs-3-5bn-credit-insurance-policy-with-13-global-insurers/.

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Trade credit insurer pulls cover for Very Group suppliers. Drapers has reported that it has learned that Allianz Trade has withdrawn its cover for The Very Group's suppliers amid concerns about the tough trading environment and the retailer's recent trading performance. Drapers notes that credit insurers have become increasingly cautious about fashion retailers: Allianz Trade withdrew credit insurance cover for Asos suppliers in late May and reduced its cover for Boohoo Group's suppliers late last year. A spokesperson for The Very Group said: "One of several providers of credit insurance to our suppliers has reassessed its cover with respect to The Very Group. It has done the same with several retailers due to its view of the market. We continue to see other credit insurers maintain or increase cover with respect to the group." To read Drapers' article go to https://www.drapersonline.com/news/credit-insurer-pulls-cover-for-very-group-suppliers. 

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Three trade credit insurance considerations for the rising $2.5 trillion trade finance gap. An article by ICISA notes that, despite efforts to reduce it, the trade finance gap in recent years has widened to $2.5 trillion. Although ICISA notes that no single solution will close the gap, it suggests that it is increasingly clear that trade credit insurance has an important role to play. For example, in terms of collateral, ICISA notes that credit insurance helps narrow the trade finance gap by providing security (the policy) "based on its unrivalled ability to mitigate risk". Additionally, banks are not equipped to assess large numbers of (sometimes small) risks. However, this is the credit insurance community's core competency. The article also stresses that giving appropriate recognition to trade credit insurance as a credit risk mitigation tool would help to broaden awareness of the product and its benefits. To read ICISA's news release go to https://icisa.org/news/3-trade-credit-insurance-considerations-for-the-rising-2-5tn-trade-finance-gap/.

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Trade credit loss ratios are expected to return to a historic correlation with GDP growth. Swiss Re has published a report that notes that, although the loss ratios in trade credit typically correlate strongly with global economic crises, government support measures and state reinsurance schemes during the pandemic contributed to greater continuity in trade credit insurance covers than, for example, during the Global Financial Crisis. Broader economic measures, monetary support and temporary changes to bankruptcy laws also reduced insolvencies to historic lows, which reduced trade credit insurance loss ratios. However, increasing insolvencies combined with prolonged high inflation and economic weakness mean that trade credit loss ratios are now returning to a correlation with GDP growth. To read Swiss Re's news release go to https://www.swissre.com/reinsurance/property-and-casualty/reinsurance/credit-surety-and-political-risk-reinsurance/trade-credit-insurance-in-an-age-of-economic-uncertainty.html.

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Outlook for export trade credit insurance in 2023: What does the data tell us? The Berne Union has identified some trends in export trade credit insurance to watch for the rest of the year. The article notes that, although data indicates that short term export credit insurance is on track for its highest half period, the rest of 2023 may prove challenging, with slower global trade growth (current projections by the WTO indicate a slowdown in global trade growth, from 2.7% in 2022 to 1.7% in 2023) translating into lower demand for Berne Union members. Conversely, the riskier macroeconomic and political environment will support demand as exporters look for cover to protect themselves from the increased risk of non-payment. "Whichever effect is felt strongest in the market will steer the outcome for the rest of the year." To read the Berne Union's article go to https://www.berneunion.org/Articles/Details/800/Export-credit-insurance-2023-outlook-What-does-the-data-tell-us.
 

Working in the credit insurance industry: what it's like. In preparation for Trade Credit Insurance week, ICISA published two videos in which experts from Atradius, Tokio Marine Nichido, Credendo, Allianz Trade, Coface, Cosec, Tryg Garanti, and Credit Guarantee discuss their current roles, their biggest motivators, how they got to where they are now, and what advice they would give to new entrants to the industry and anyone interested in joining. To watch the videos go to https://www.youtube.com/watch?v=FZS5jTMRNvA&t=1s and https://www.youtube.com/watch?v=mzwCSIIVNOI. 

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Why trade credit insurance "just made perfect sense to me". Insurance Business has published an interview in which David Meys, Coface New Zealand's Commercial Director, explains why he left the property sector after one and a half decades after seeing the result of the financial impact of the global financial crisis. "That was a pivotal moment for me when I saw credit insurance as a product that New Zealand businesses should be using to mitigate the effects of a financial disaster like that. In David Meys' view, a credit insurer essentially underwrites a company's ability to grow by, among other things, enabling the insured business to get better trade finance and better bank rates that will help it continue its growth. Additionally, he believes it is an offering that insurance brokers can use to enhance their profile with clients and to win new business by leveraging credit insurance as a point of difference. To read Insurance Business' article go to https://www.insurancebusinessmag.com/nz/news/breaking-news/why-i-love-insurance-it-just-made-perfect-sense-to-me-460891.aspx.

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Trade credit insurers remain committed to supporting the retail sector. Xenia Broking has reported a new report, Market Insight: UK Retail, which lists some of  2023's most notable retail insolvencies and suggests that UK retail is clearly an industry under pressure. However, the report notes that trade credit insurers remain committed to supporting the retail sector and will continue to underwrite cover where possible – although they will remain strategic and prudent in their underwriting line. "There is certainly an air of caution radiating across the credit market, but support continues where possible to ensure strong risk management is in place whilst facilitating trade and growth." Xenia Broking predicts a further dip for the retail sector during the next 12 months. and warns that companies will need to become more agile, embrace change, introduce or intensify the use of digital technology and be open-minded about innovation to enable survival. To read Xenia Broking's report go to https://xeniabroking.com/news-and-insights/sector-report-uk-retail.

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Global insolvencies adjust back to pre-pandemic levels. Atradius' latest insolvency forecast for September 2023 advises that the adjustment process for insolvencies has accelerated in 2023, driven by normalisation after the pandemic, the bankruptcy of zombie firms, less government support and tighter lending conditions. After a 9% global increase in insolvencies in 2022, Atradius expects a 34% increase in 2023, with rising insolvencies across all regions, with North America experiencing a relatively strong increase, while Europe is seeing milder increases. For 2024, Atradius predicts that insolvencies will rise by 19% compared to 2023 and, by the end of the year, will have more or less normalised compared to pre-pandemic levels. To read Atradius' report go to https://atradius.co.uk/reports/economic-research-insolvencies-adjust-back-to-pre-pandemic-levels.html.   

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A challenging outlook for corporates in Q3. Allianz Trade has published its latest Sector Atlas, Assessing non-payment risk across global sectors. The report notes that global GDP growth is projected to decelerate to +2.5% in 2023 (as low as in 2019), and although advanced economies will likely dodge a full recession, they will experience low growth in 2023 and 2024. For Q3, the outlook for corporates looks challenging, especially for Europe, with the US showing slight improvement. Against this backdrop, Allianz Trade predicts a balanced risk landscape from a sector perspective; the bulk of sector ratings are either 'Medium' risk or 'Sensitive' risk (a combined 85% of all ratings) across all regions. However, there is quite some risk dispersion between regions as Asia seems to be on the safer side while Latin America is on the riskier side. In terms of sectors, pharmaceuticals or software & IT services have better ratings overall, while construction, textiles and metals are often deemed riskier. To read Allianz Trade's report go to https://www.allianz-trade.com/en_global/news-insights/economic-insights/Sector-Atlas.html.

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Coface launches a new digital platform dedicated to API solutions. Coface has announced that it has launched a new digital platform that aims to provide its customers and distribution partners with a full range of APIs (Application Programming Interfaces). The new Portal, which has been designed mainly for credit managers and financial directors, offers twenty-six API products in trade credit insurance or Business Information and allows the IT developers of Coface's corporate customers to interface easily with the Coface environment and design customised APIs based on the specific features of their business applications or their sector of activity. To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-launches-API-Portal-a-new-digital-platform-dedicated-to-API-solutions.

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Atradius Customer Survey: A jump in net promoter score. Atradius has reported that its 2023 annual anonymous customer survey of its customers in the US, Canada, and Mexico has found that 92% of respondents are likely to renew their policy with Atradius, with a +70 Net Promoter Score this year (compared to +59 last year).  Detractors scored 1 through 6, Passives scored 7 and 8, and Promoters scored 9 and 10. The Net Promoter score is calculated by subtracting the percentage of detractors from the percentage of promoters. Drive Research (who conducted the Survey) views scores between scores above 60 as best in class. The independent research also found that, for the third consecutive year, the top three words that were used to describe Atradius were Professional (77%), Reliable (64%), and Efficient (60%). For more information go to https://resources.atradius.us/trends-and-insights/atradius-customer-survey-a-jump-in-net-promoter-score/?utm_source=linkedin&utm_medium=social-media&utm_campaign=blog-2023.

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A trough in global economic activity is expected at the turn of the year, followed by below-trend growth in 2024-25. Allianz Trade's latest Global Economic Outlook projects "a timid" exit from recession from -0.6% growth in 2023 to +3.3% in 2024. The US will see +1.1% GDP growth in 2024, the slowest rate since 2009, followed by +1.7% in 2025. Germany and France will only grow by +0.7%, followed by +1.6% in 2025. China's growth is expected to slow to +4.7% and +4.2% in 2025. Emerging markets will face a growth deceleration to +4% and +3.9%, respectively, below pre-pandemic levels. The report also warns that, particularly in Europe, many corporates are bracing for significant post-COVID debt repayments due in late 2024-25. Business insolvencies are expected to rise by +11% in 2023 and at least +7% in 2024, with Western Europe being a key contributor to the global trend. To read Allianz Trade's news release, with a link to the full report and a presentation, go to https://www.allianz-trade.com/en_global/news-insights/economic-insights/global-economic-outlook-Q3-2023.html. 

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Soaring payment risk spurs stricter B2B trade credit policy in the US. Atradius' latest Payment Practices Barometer for the US notes that heightened payment risk is prompting businesses polled in the US to implement a more stringent trade credit policy for B2B transactions. US companies have experienced an upward trend in late payments and bad debts arising from B2B trade on credit during the past 12 months. Currently, 55% of all B2B invoiced sales are overdue, while bad debts affect an average of 9% of all credit-based B2B sales. The electronics/ICT sector was the most affected. A significant majority of US companies polled told Atradius they would continue to retain and manage customer credit risk internally in the year ahead. However, there is a clear inclination among businesses polled to embrace a comprehensive and varied credit management strategy, including increased credit insurance use. To read Atradius' report go to https://atradius.co.uk/reports/payment-practices-barometer-b2b-payment-practices-trends-united-states-2023.html.

 

Fasanara and Allianz Trade join forces to grow the fintech sector. Fasanara Capital and Allianz Trade have announced they are joining forces to provide up to a $1 billion financing boost to the fast-growing global B2B e-commerce sector. Allianz Trade will underwrite the buyers of the B2B e-commerce businesses in the new fund. Hannes Monaghan, Trade Credit Insurance Broker at Turner Rawlinson, played an instrumental role in facilitating this partnership. Hannes said: "In these challenging times, businesses require both funding and protection more than ever. This partnership paves the way for such opportunities." To read Allianz Trade's news release go to https://www.allianz-trade.com/en_GB/newsroom/fasanara-and-allianz-trade-join-forces-to-grow-fintech-sector.html.  

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USMCA companies are on alert due to a late payments surge, with a 30% increase in Canada. Atradius' latest Payment Practices Barometer has found that USMCA companies face a notable uptick in late payments, with an average 13% increase from the previous year, particularly impacting Canada. The major concern for businesses polled in the USMCA region is a significant deterioration in the payment behaviour of B2B customers. Late payments increased by an average of 13% on the previous year, although they rose by 30% in Canada. Sales transacted on credit showed a sharp downturn among companies polled in Canada during the past 12 months, particularly in the chemicals sector. These now average just 32% of all B2B sales, with the majority of sales made on a cash basis. To read Atradius' report go to https://atradius.co.uk/reports/payment-practices-barometer-b2b-payment-practices-trends-usmca-2023.html​.

 

Moody's upgrades Coface's financial strength rating to A1. Coface has reported that Moody's has upgraded its financial strength rating (Insurance Financial Strength Rating – IFSR) for Coface to A1 from A2. The agency has also changed the outlook for Coface to stable from positive. In its press release, Moody's highlights that this rating reflects “the increasing diversification of the group and the enhanced monitoring and improved management of credit risk exposures, which Moody's expects to result in lower volatility in profits and make the insurer better placed to weather an economic downturn. The upgrade also reflects the good capitalisation level maintained by the group since 2020 and the improvement in asset quality." Coface's profitability has been very strong in the last five years, with an average combined ratio of 71% between 2018 and 2022. To read Coface's news release go to https://www.coface.com/News-Publications/News/COFACE-SA-Moody-s-upgrades-Coface-s-main-operating-company-to-A1-IFSR-stable-outlook.

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Quadient and Coface announce a strategic partnership aimed at offering an advanced solution for customer risk management. This new partnership will begin in France initially before being quickly extended to the English and American markets. Offered as an additional module for the automation of customer account management within Quadient's cloud platform, the data and information provided by Coface will allow companies to more precisely assess the financial health of their customers, prospects and suppliers. Stéphanie Auchabie, Director of Operations Quadient France-Benelux, commented: "By partnering with a recognised expert such as Coface, we offer our clients more means to make more informed decisions and manage their customer risk more effectively." To read Coface's news release go to https://www.coface.fr/Actualites-Publications/Actualites/Quadient-et-Coface-s-associent-pour-proposer-une-solution-avancee-de-gestion-du-risque-client-en-France-et-a-l-international.

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France's factoring market is growing more slowly in 2023. TRFnews has reported that a new report on the state of the French factoring industry published by the ASF (the French Association of Finance Companies) has found that France's factoring market grew more slowly in the first half of 2023 than in the first half of 2022. Even so, at 6.4%, it was well above the country's growth in GDP. Also, for the first time in many years, the growth in France's international factoring market was somewhat less than the growth in domestic factoring. France is now Europe's largest factoring market, outperforming Germany in 2022 and the world's second-largest after China. In comparison, France's factoring market grew by 15.5% in 2022. To read TRF News' article go to https://bcrpub.com/news/france%E2%80%99s-factoring-market-growing-more-slowly-2023.

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Berne Union September's BUlletin. Berne Union has published the latest issue of its BUlletin. This month's issue includes the following articles:

• 'Berne Union Climate Working Group: The continuing momentum for change', by Karin Wessman, Head of Sustainability at EKN.

• 'Opportunities in new technology risks for ECAs', by Yuichiro Akita, General Manager, International and Strategic Policy at NEXI.

• 'Export credit insurance 2023 outlook: What does the data tell us?', by Lewis Evans.

• 'New frontiers for the development of CPRI in Latin America', by Larissa Belizario, Director, Political Risk and Credit, Latin America at Chubb.

• 'Opinion: The complications of insuring war risks on land', by Zoe Towndrow, Practice Lead, Political Violence at BPL Global.

To read this month's issue go to https://www.berneunion.org/Articles/Details/808/September-BUlletin-Published-BU-Climate-Working-Group-The-continuing-momentum-f.

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Congratulations

BPL Global is celebrating its 40th anniversary. Founded in 1983 amidst a fast-changing, newly entrepreneurial culture within the London insurance industry, BPL Global's achievements have been closely intertwined with, and shaped by, the evolution of the insurance industry and CPRI market. To celebrate the anniversary, BPL Global has published a video that takes a look back at key milestones of the last four decades. To watch go to https://bpl-global.com/2023/09/08/celebrating-40-years-of-world-leading-credit-and-political-risk-insurance/.

 

Trade Finance Global (TFG) has announced the winners of its 2023 Trade, Treasury, and Payment Awards in cooperation with BAFT. This year's winners were unveiled during the 2023 Global Council Forum organised by BAFT, held in Toronto, Canada, on September 17. Allianz Trade won the award for Best Trade Credit Insurer, and BPL Global won the award for Best Trade Credit Insurance Broker.

 

The Women in Credit Awards champion the work of women and those who empower them across the entire credit and financial services industry. The nominees this year included several women from Allianz Trade, with Sarah Murrow nominated for Business Leader of the Year. Take a look at who made the 2023 shortlist here: https://ow.ly/AT9f50PFN3r.

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In Memoriam

It is with great sadness that Credit Insurance News announces the passing of Greg Connell.
Greg started his career at Dun & Bradstreet, where he worked as National Sales Director, before, in 2007, founding Connell Data Ltd T/A InfolinkGazette, publishers of comprehensive insolvency information, including details of unpaid and unsecured creditors from UK company failures. Greg was also a Non-executive Director of StubbsGazette, with responsibility for legal and compliance matters; a trustee director of the Dun & Bradstreet UK Pension Company; and a Member of Registry Trust Ltd, the Register of Judgments, Orders & Fines.

Greg was a recognised expert in his field. As a regular contributor to Credit Insurance News Digest and Credit Management News Digest over the last 10+ years, I have been tremendously grateful for his support and advice.

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New Appointments

Allianz Trade Asia-Pacific has appointed Imran Khan as country manager for its India unit. Imran joins Allianz Trade from Prudent Insurance Brokers Pvt Ltd, where he was Vice President, Trade Credit & Political Risk Insurance.

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Allianz Trade in North America has appointed Dominique Dumas as an Insurance Agent. Dominque joins Allianz Trade from ClearEstate, where he was employed as an Account Executive. He is based in Montréal, Canada.

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Aon has appointed Meera Saunders as Client Director, Structured Credit Solutions at Aon. Meera joins Aon from AIG, where her most recent role was Head of Strategy and Operations, Trade Finance.

 

Aspen Insurance Group has promoted Emma Yau to Senior Underwriter, Emma joined Aspen from AIG in 2019 and was previously employed as an Underwriter. 

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Attis Credit Solutions has appointed Philip McGivern as an Account Handler. Philip joins Attis from My Digital, where he worked as a Payroll Product Analyst. 

 

Chubb has appointed Dexter Wiseman as Underwriting Apprentice, Political Risk & Trade Credit, based in London. Dexter joins via the Chubb Academy on a 24-month UK apprenticeship.

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Coface UK & Ireland has appointed Jason Taverner as Senior Business Development Manager. Jason joins Coface from Dods Group, where he was Head of New Business Sales for Political Intelligence UK & EU.

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Gallagher Re has appointed Jonathan Allard as Managing Director and Head of its newly created Global Credit & Political Risk team, based in London. He joins Gallagher Re from Renaissance Re where he previously served as Vice President of Underwriting. 

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Nexus Trade Credit Germany has appointed Jens Marienfeld as Broker and Broker and Partner Manager. Jens was previously Head of Partner and Brokership Northern European Region at Coface. Jens is based in Lübeck, Germany.

 

PIB Insurance Brokers has welcomed Sally Williams, Rich Campbell and Lucila Griffiths to its trade credit insurance team. Sally has a background in senior roles at Aon and HSB and will be working as a Director at PIB. Rich's background is in Strategic accounts. He joins PIB as a Senior Client Executive, following roles at Aon and Howden. Lucila joins from Atradius, where she worked for more than 20 years. She will be working as an Account Handler at PIB.

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WTW has announced the appointment of Hannah Fearn as Director of the Financial Solutions team. Hannah joins WTW from the law firm Sullivan & Worcester, where her practice areas encompassed export and finance, credit insurance and other credit risk mitigation techniques.

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Job Vacancies

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Sales Executive.  Perth

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Why NCI?

NCI is Australia's leading Trade Credit Insurance Broker. For over 35 years we have been helping our client's protect their profitability.

We have offices throughout Australia, New Zealand and Southeast Asia and employee nearly 200 staff. We provide specialist, value-added trade credit related services to an extensive client base across an array of industries and markets.

NCI is owned and backed by Steadfast Group Ltd, an ASX 100 company, yet has the feel and culture of tight-knit community. We pride ourselves on our inclusive values and this is reflected in the way we conduct our business with all stakeholders.

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About the role

Reporting to the General Manager WA you will be responsible for proactively identifying and developing new business through networking, relationship building and cold calling as well as cross-selling our range of products. You will be accountable for delivering results against set targets. This is a rare and exciting opportunity for someone with a real passion for new business, who likes autonomy and thrives on results! We will provide plenty of training along the way and assist with lead generation to get you started.

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About you

We are looking for an energetic, experienced new business hunter who has a proven track record of establishing new business through cold calling, networking and relationship building. To ensure success, you must have a passion for sales, be persuasive and disciplined to achieve results. This role will suit candidates with experience in solution based sales ideally in a business to business environment. Successful sales executives have come from industries such as banking, real estate, door to door sales and finance.

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What we offer

NCI provides a wonderful work environment with additional leave, regular team building opportunities, paid parental leave, volunteer days, employee discounts and more! We are focussed on career development opportunities for our employees and people who join us often stay for a long time! Our leaders are down to earth, we work hard and we have fun doing it!

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If you are motivated by opportunity, want a great place to work and a competitive remuneration package, with a generous commission structure then we would love to hear from you.

If you would like further information abut the role, please call Gina on 1800 882 820.

To apply for the role go to https://nci.pulsesoftware.com/Pulse/job/31jniD/Sales-Executive?source=public.

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Client Service Manager. Sydney

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About NCI:

For over 35 years NCI has been Australia's leading provider of trade credit solutions. With branches around the Asia Pacific region, we are continually striving to better our client's business practices, as their business is central to what we do. NCI is owned and backed by Steadfast Group Ltd, an ASX top 100 company A career at NCI is based upon our inclusive values and this is reflected in the way we conduct our business with all stakeholders.

NCI offer a range of benefits that include:

• On-the-job training

• Career opportunities

• 4 Leisure leave days a year, in addition to annual leave

• Paid volunteer leave

• Flexible work from home policy

• Paid parental leave
   

About the Role:

We currently have an opportunity for a Client Service Manager to join our client service team in North Sydney. In this role you will be responsible for:-

· Developing and maintaining strong relationships with clients, underwriters and internal personnel

· Identifying new business opportunities

· Cross-selling of all NCI products

· Ensure retention and renewal of business at the end of the policy period

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About You:

The successful candidate will have excellent client relationship building skills together with strong communication and excellent negotiation skills. You will need to be passionate about client service excellence, professional and be a positive team player.

This position offers training and active support. The successful applicant can look forward to a long term career with a successful organisation.

If you would like further information about the role, please call Gina on 1800 882 820.

To apply for the role go to https://nci.pulsesoftware.com/Pulse/job/zsPZo2/Client-Service-Manager?source=public.

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Events & Professional Development

Africa 2023: Export & Natural Resources Finance, 24-25 October. The Westin Cape Town, South Africa.
Taking place in October 2023, this is an unmatched opportunity to end the year on a high and start 2024 with new connections, crucial business intelligence insights and get ahead of the competition. Without anything quite like it in the market right now, this unique free offering will bring you the best of all things export, project, commodities & development finance.

Special offers available — email  marketing@exilegroup.com to enquire.

Click here for details

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MENA Supply Chain Finance 2023, 7-8 November, Dubai.
ICC UAE is partnering with @bcr to bring you the second annual MENA Supply Chain Finance
conference on 7-8 November, in Dubai Chambers.
The first line of speakers, who we are happy to introduce today, is as follows:

• •Anurag Chaudhary, CEO, Pinnacle Trade Finance

• Betül Kurtulus, Regional Director for Central, Eastern and South-Eastern Europe and the

• Middle East, FCI

• Doaa Hafez, General Manager, Head of Technical Functions & Alternate Head of

• International Factoring, Egypt Factors, Executive Committee Member, FCI

• Elat Niyas, Treasury Manager, Al Masaood

• Lionel Taylor, Managing Director, Trade Advisory Network

• Maninder Bhandari, Director, Derby Group

• Richard Wulff, Executive Director, ICISA - International Credit Insurance & Surety

• Association

• Shamila Ashiq, Regional Senior Legal Counsel, MENA Global Trade & Receivables

• Finance, HSBC

• Shereen Elansary, Head of Supply Chain Finance & Custody Division, Qatar National Bank

• Alahli

• Syed Imtiaz Hussain, Regional Head of Product and Propositions, Global Trade and

• Receivables Finance (GTRF), HSBC

• Syed Khurrum Zaeem, Head of Trade & Working Capital and Transaction Banking, Africa

• and the Middle East, Standard Chartered Bank

• Yusuf Ali Khan, Managing Director Head of Trade and Working Capital Solutions for

• Middle East, North Africa and Pakistan, Citi

• Ayman Allam, Former Director of Operations, Roche Middle East

Register today to get your Early Bird ticket: https://bcrpub.com/events/mena-supply-chain-finance-2023.

Click here for details.

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SCHUMANN Connect, Network Event. 16 November, London.

You are invited to the SCHUMANN CONNECT! event! Be part of our exclusive networking event for trade credit & surety insurers, brokers and trade finance managers on 16 November in London!

Underwriting in trade credit insurance and surety business is undergoing change. We will discuss with experts what demands the market is placing on digitalisation. Speakers from Allianz Trade, Nexus and Gracher, among others, will be there to discuss with us the possibilities of future-oriented digital solutions that are urgently needed for the competitiveness and sustainability of modern insurance companies.

These will be our topics:

• Intelligent Underwriting Assistance

• Benefits of Automated and Lean Processes

• Annual Financial Statement Analysis in the Digital Age

• Actual Trends in the Surety Industry

Register now! Participation is free of charge.

Don't miss the opportunity to exchange ideas with colleagues from the insurance and trade finance sectors.

• Thursday, 16 November 2023, from 4 pm

• citizenM Tower of London, 40 Trinity Square, London EC3N 4DJ

Become part of the SCHUMANN community and CONNECT!

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Export & Project Finance Dealmakers Assembly 2023, 21-22 November 2023. Berlin, Germany.
After the resounding success of our seminal event last year, in October 2023, we head to Germany for the highly anticipated second edition of the TXF Export Finance Dealmakers Assembly, a conference turned upside down. The event's primary focus will be on securing those all-important meetings, strengthening ties with existing clients and forging new connections. The Dealmakers Assembly will be a conference like none you've attended before. A completely unique and innovative event format focused on deal origination, networking and meeting rooms galore. Discounts are available on bookings of 2 or more  — email marketing@exilegroup.com to enquire.

Click here for details.

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The Working Capital Forum Europe 2023, 28 November 2023. Beurs van Berlage, Amsterdam. #WCFE23

Leading the way in Working Capital Management

The world’s largest specialist working capital event, Working Capital Forum Europe, returns to Amsterdam on 28th November 2023 at the Beurs van Berlage, with the prestigious Working Capital Awards taking place on 27th November at the Sofitel Legend The Grand Amsterdam.

The conference themes this year are Resilience, Innovation, and Growth.

The one-day event will bring you live demos, panel debates, workshops, keynote sessions and Q&A’s, covering every aspect of working capital and management and supply chain finance, including payables finance, inventory management, receivables finance, cash forecasting, liquidity strategies, FASB and IASB regulatory changes, and much more…

Attendees will have the unparalleled opportunity to meet, network and participate in panel discussions and debates with industry experts and professionals from the largest corporations across Europe and the world.

This is a must-attend event for: corporate treasurers, procurement directors, CFOs, finance directors/heads and senior leaders in large corporations.

Click here for information.

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The 9th Alternative and Receivables Finance Forum, 28-29 November, London.

As the financial landscape continues to evolve, alternative receivables finance has emerged as a
crucial component of business operations. The 9th Alternative and Receivables Finance Forum
(ARF23) aims to bring together experts, innovators, and thought leaders from various sectors to
discuss and share insights on alternative receivables finance models, strategies, and best practices.
Join our partner BCR Publishing for this essential industry event on 28-29 November at the London
offices of Clifford Chance.

For the programme and registration click here.

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Professional Development
STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range ofwebinars and classroom training courses.
Classroom training courses are organised once or twice per year or on demand while webinars
are organised multiple times per year or on demand for groups of participants.

For 2023 the following courses are scheduled.

• 31 October & 1 November: The Trade Credit Insurance Foundation Course*

• 2 & 3 November: The Trade Credit Insurance Advanced Course*

* Both course are confirmed to be run as the minimal number of participants has been reached already.

For 2024 the following courses have been planned in Q1:

• 26 & 27 February: The Surety Bonds Foundation Course

• 28 & 29 February: The Surety Bonds Advanced Course.
   

All classroom courses will take place in the Steigenberger Airport Hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include lunches and a dinner at the end of the first training day. The courses are hosted by very experienced experts from the industry and there is enough opportunity for asking questions, discussions and networking.
 

Also, there is the possibility of arranging in-house training: then there will be created a tailor-made outline for your staff based on the training demands of your company. The training will be effected at your own offices or at a venue of choice.

Detailed information about the webinar and classroom training courses is available on Stecis’ website: www.stecis.org. Also, further information can be obtained by sending an e-mail to info@stecis.org.

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About our Sponsor: Co-pilot

Co-pilot has cultivated a prestigious client portfolio, featuring global multi-billion-dollar brands, tirelessly committed to delivering mutual benefits for Clients, Brokers, and, where applicable, Funders.
With two decades of expertise, Co-pilot specialises in advising companies on optimising O2C processes, enhancing Trade Credit Insurance Compliance, implementing robust Business Information programs, and more, primarily through a stellar reputation, extensive networks, and word-of-mouth referrals.
As external consultants, our mission revolves around meticulously scoping initial requirements, sourcing the ideal vendors and solutions, formulating robust implementation plans, and conducting diligent solution audits post-launch.
At Co-pilot, we understand that one size does not fit all. We embark on a tailored journey with each client, guiding them towards discovering the precise tools, technology, and techniques indispensable to their unique business needs.
Our knowledge and experience in advising clients are unparalleled, encompassing cutting-edge credit risk management practices, enriched by our exclusive data sources, tools, techniques, and methodologies for real-time credit risk management. This fusion of core competencies is a hallmark of Co-pilot's distinctiveness, enabling us to provide clients with a comprehensive advisory package for achieving optimal solutions.

WHY CO-PILOT?

• Our unrivalled expertise in selecting platform vendors (see case studies on website).

• Our profound knowledge, extensive experience and sterling reputation in the Trade Credit Insurance market.

• Our adaptable “Digital Collaboration” solution which, we believe, represents a new future for the industry.
   

For further information, please speak to Simon Marshall at +44 20 7813 2182 or visit https://www.co-pilot.co.uk/about-us/.

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Your journey to tailored, effective solutions begins here.