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April
Beazley is expanding its political risk and contingency business with market moves in Paris, Singapore and New York.
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The eurozone enjoys its strongest quarter since March 2010 in the latest results of Euromoney’s country risk ratings, which track economic and political risk across both advanced and emerging economies. Norway tops the poll, while experts consider Chile and Qatar to be the safest emerging market trade destinations.
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At the end of 2011, medium to long-term support from Berne Union export credit agencies reached record levels, while short-term insurance capacity reflected pre-crisis volumes.
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Insurance broker Marsh appoints new chairman for its global infrastructure practice.
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March
Trade credit insurer, QBE Trade Credit, has hired Ian Bocca to manage new business development UK.
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Dickon Harris reports on a new set of trade finance definitions that show, for the first-time, how trade banks perceive the risk profile for traditional trade finance products.
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Dickon Harris reports on a new set of trade finance definitions that show, for the first-time, how trade banks perceive the risk profile for traditional trade finance products.
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Credit insurer Atradius’ special products unit, which offers political risk insurance, records 17% rise for 2011.
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Trade credit insurer Coface has recorded a net profit increase of 21% for 2011.
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Sinosure’s short term export risk index (ERI) launched this week shows that France, UK and Germany have second-tier risk ratings, and are expected to fall.
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February
Belgian export credit agency ONDD has acquired a majority stake in Trade Credit Re Insurance Company (TCRe) with the repurchase of ABN Amro’s shareholding.
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JLT has hired two senior political risk and structured credit insurance brokers for its Singapore office from rival Aon.
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Insurance broker Miller has appointed James Cunningham and Ewan Wauchope to bolster its political risk, trade credit and political violence capabilities.
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Insurer ACE has opened a representative office in Ukraine.
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The International Credit Insurance & Surety Association (ICISA) has expressed concern over the deteriorating trade outlook for 2012, and the lack of financing by banks.
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January
The African Trade Insurance Agency (ATI) has opened a new representative office in Rwanda’s capital Kigali.
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Marsh has stated that it expects to see demand for short-term trade credit insurance continue to rise in 2012 among countries in Europe, the Middle East and Africa.
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XL Group has added four new members to its global political risk and trade credit (PRTC) team based in London.
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Trade credit insurer Equinox Global has poached Chartis’s European trade credit regional manager, Alban De Malherbe, to help it open an office in France.
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China’s export credit insurer Sinosure celebrated its tenth anniversary in December as its underwriteen short-term insurance business hit record highs.