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New role for Louat at Zurich

30 June 2009

Frederic Louat, manager for Zurich Surety, Credit and Political Risk Asia-Pacific, has moved up to a new role.

Read more: [trade credit insurance] [Asia insurance] [Frederic Louat] [Zurich political risk]

Frederic Louat has become chief underwriting officer for Greater China and South East Asia for Zurich’s non-life business, based in Hong Kong.

David Anderson replaces him as manager for Zurich’s Surety, Credit and Political Risk Asia-Pacific. He was previously Louat’s deputy.

The president of surety, credit and political risk at Zurich, Daniel Riordan, says: “Through our offices in Beijing, Hong Kong, Singapore, Sydney and Tokyo, we have been creating closer ties to our customers throughout this region and David’s role will reinforce our strategic expansion and commitment to this market.”

Louat has been with Zurich for nine years. He was global director for trade credit insurance before becoming Asia-Pacific regional manager.

Anderson established and developed Zurich’s Australian and Singapore offices and provided underwriting guidance to regional underwriters. Before joining Zurich, he was an underwriter at FCIA Management Corp and has worked at Citicorp International Trade Indemnity.


 


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Gazpromneft stunned the market this week when it was revealed pricing for their five-year $1 billion pre-export financing was rumoured to be just above 300 basis points over Libor. Is the deal likely to be a syndication success?

Yes - this seems like a sensible pricing benchmark, why not?
9%
No - are you crazy? These prices are ridiculous. What were these banks thinking?
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Yes - but for all the wrong reasons. A lack of other deals in the market, and the promise of future business with Gazpromneft will make it hard to ignore but don’t expect many to take up big tickets with this deal. There are much better deals out there.
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