Credit insurers face pandemic-related claims continuing well into 2021 but will avoid losses on a similar scale to those seen after the 2008 global financial crisis thanks to government interventions, according to Fitch Ratings.
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Trade credit and the political risks class were among those with the greatest Covid-19 predicted insured losses, ranking behind only hard-hit areas such as business interruption and contingency, in a scenario analysis published by Willis Towers Watson in…
Trade credit insurers operating in the UK market will receive up to £10bn of government guarantees, ministers announced today.
Allianz could see a €1bn (£882m) or more hit from the coronavirus pandemic across property and casualty, Allianz group chief financial officer Giulio Terzariol has cautioned.
Trade credit insurers are looking at pricing and cover limits as the coronavirus crisis continues to unfold, Post understands, as they warn virtually no sector will be left unaffected by the pandemic.
Invoice insurance start-up Nimbla has swooped for Elizabeth Jenkin as its chief commercial officer, joining from RFIB.
Digital Fineprint has become the latest UK-based insurtech to announce a significant fund raising round after unveiling a $4m (£3.2m) investment at Insurtech Connect in Las Vegas today.
Trade credit insurer Atradius has forecast that global insolvencies are set to rise for the first time in 10 years, with the UK facing the highest increase of all advanced markets.
How can insurers help customers facing Brexit uncertainly when they themselves face taking a blind bet on whether the UK will face a hard or soft deal when leaving the European Union? David Worsfold investigates.
Start-up Hokodo will work with Scor Global’s Channel Syndicate on an SME invoice protection product.
Debenhams has said it retains a ‘constructive relationship’ with its credit insurers as the ailing retailer has its cover reduced.
Protectionism is posing challenges to the insurance market, but also creating some opportunities, especially for trade credit cover.
Last year, trade credit insurance payouts hit their highest level in nearly a decade, with claims costs running at the equivalent of £4.3m every week.
Allianz is set to squeeze out remaining shareholders of Euler Hermes delist the trade credit insurer from the Paris stock exchange on Friday.
Allianz intends to purchase the remaining shares in Euler Hermes to squeeze out minority shareholders and give the German insurance giant ultimate control.
Allianz has increased its shareholding in Euler Hermes to 92.43%
Trade credit insurer Euler Hermes has named its new chief financial officer, chief operating officer, and head of market management.
Euler Hermes reported a 10% boost in group net income for the year ending 31 December 2016.
It was oddly coincidental that it was Blue Monday, the most depressing day of the year, when Carillion collapsed – placing 20,000 jobs at risk.
Allianz will open a tender offer for Euler Hermes shares on Monday after receiving regulatory approval.
Euler Hermes has reportedly stopped offering cover on new shipments of goods to ailing retailer New Look.
Concerns remain but outlook for global trade shows positive signs, says Axel Theis, member of the board of management of Allianz SE.
I felt very smug when my daughter tried on her first pair of slipper socks: she liked them! That meant I wouldn’t need to argue with her to keep her little feet warm – and she wouldn’t risk slipping on wooden floors. What I hadn’t foreseen though was…