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Credit Insurance

S&P Downgrades Atradius Threatening the Lifeline for Trade Credit

S&P’s downgrade of Atradius has rattled the credit insurance industry this week.  S&P had downgraded Atradius from A to BBB.  The downgrade came as a result of a downgrade of Spain’s sovereign debt, because the main shareholder of Atradius is the Spanish based Grupo Catalana Occidente and thus subject to sovereign debt exposure.   S&P warns that if it has to ... Read More »

European Risk Climate: More than 25% of European Business Failures are the Result of B2B Customer Defaults

B2B credit risk exposure is now at the top of C-level priority concerns.  According to Tinubu estimates, customer receivables represent more than a third of a B2B company’s assets. More than 25% of business failures in Europe are the direct result of B2B customer defaults. Write offs of bad customer debt have grown from an average .5% of revenues to ... Read More »

Fraud Alive and Well in Business Credit, As Are Defenses

Fraudsters that are proficient at swindling and lawbreaking continue to try new schemes and methods, as well as some tried and true ones, to profit at the expense of trade creditors.  This is not going away. As one source noted, his company’s write-offs were running “about twice as high” this year because of fraud, especially involving credit cards.  An example ... Read More »

Coface First Half 2012 Global Revenue up 5.8%

Notwithstanding deteriorated economic condition Coface has increased its consolidated revenues by 5.8%, with credit insurance growing 7.2%.  Revenues in emerging markets have increased by 21%.  Operating revenue grew by 25.8% About Coface:  The Coface Group, a worldwide leader in credit insurance, offers companies around the globe solutions to protect them against the risk of financial default of their clients, both ... Read More »

China Risk Climate: Trade Credit Has Become the Main Source for Financing = Payment Delays more Frequent – Insufficient Access to Credit Retards Growth

Coface, one of the largest global credit insurers, has just released its latest study on the payment behavior of Chinese companies.  The study was conducted during the months of October and November 2011 and is based on interviews of over 1,300 companies in various sectors and with different legal structures. 90% of Chinese companies now use credit transactions Credit sales ... Read More »

Coface Issues Corporate Credit Risk Study on China

The ups and downs of the eurozone crisis and the sluggishness of US economy continue to affect China’s exports during 2012.  On the other hand, China’s domestic market continues to rise.  To adapt to the changing economic environment, many Chinese exporters are transforming their production models, aiming for better productivity and product quality in order to secure their export markets. ... Read More »

Coface Appoints New Chairman

The Board of Directors of Coface met today and appointed Laurent Mignon Chairman of the Board of Directors of the company.  Laurent Mignon is the Chief Executive Officer of Natixis, shareholder of Coface.  He takes over from Francois David, whose mandate has ended. The Coface Group, a worldwide leader in credit insurance, offers companies around the globe solutions to protect ... Read More »

Australian Credit Climate: Pitfalls and Red Flags of Bad Credit Management

Recent news reports have shown a long list of companies entering external administration and having issues with bad debt.  The increasing number of organisations finding themselves in trouble indicates a greater need for companies to pay closer attention to credit risk management. Veda’s Business Credit Demand Index for the December 2011 quarter showed that mainly small and medium sized businesses ... Read More »

Credit Insurance: ICISA OUTLOOK 2012

Members are Concerned about Deteriorating Trade Environment in Europe, U.S.A and in Latin America:  Surge in Demand for Credit Insurance in Asia and in Latin America Members of ICISA (International Credit Insurance and Surety Association) express concern about a possible further deterioration of the business environment brought on by sovereign debt, in particular in the European Union, the USA and Japan, ... Read More »

Code of Conduct for the Credit Insurance Industry

The financial crisis has revealed the weaknesses of the credit insurance product.  The sudden withdrawal of credit limits caused consternation amongst customers.  The business communities and the professional federations experienced that the credit insurance product needed renewal and a think tank was therefore created: the “Credit Management Think Tank”. The think tank acts as a breeding ground for innovative ideas ... Read More »

Tinubu Square Gets a €11.3 Million Investment to Boost Expansion

BIIA Member Tinubu Square (France) announced that Fonds Stratégique d’Investissement (FSI) will be investing €11.3 million in the company, alongside its founding shareholders. The FSI’s investment will strengthen Tinubu Square’s financial structure, enabling it to draw on its technological advances and finance its expansion plans and build further on its success with institutional customers (credit insurers and banks) and boost ... Read More »

Atradius Extends Credit Insurance Offering in Asia on the Back of Robust Growth

Atradius, one of the leading global credit insurers, has extended its pan-Asian partnership with Tokio Marine Asia Pte Ltd (TM Asia), following a period of sustained growth in the region.   This partnership now enables Atradius to issue policies locally in Indonesia, Malaysia, Vietnam and the Philippines by TM Asia affiliated insurance companies. Within Asia, Atradius now offers credit insurance, either ... Read More »

Atradius recommends 10-point-plan for exports to Russia

Credit insurer presents checklist for successful trade with Russian customers Growth market Russia holds some peculiarities and risks that suppliers need to consider Judicial proceedings in case of payment default mostly ineffective, says Atradius Amsterdam, May 19, 2011 – For many countries exports to Russia significantly increased in 2010 and made the world’s biggest country after China one of the ... Read More »

Observations from the BIIA Forum 2011: Jerome Peze, President of Tinubu Square Presented the Viewpoint of the Credit Insurance industry – one of the largest User Segments of Credit Information

BIIA invited its member Jerome Peze to be a panelist in the BIIA Forum 2011 session: The future of trade credit and the implication on information services.  In this session a team of panelists discussed the role of credit management tools in the financial crisis, which worked, which did not and what are the implications for credit information post credit ... Read More »

Atradius Awarded Best Risk Management Team 2010

Atradius has been awarded the designation of best risk management team by the New European Economy, highlighting our commitment to providing our customers with best in class credit management and excellent service. The New European Economy Awards was established to celebrate excellence, achievement and best practice in the international finance and commerce milieu.   Created to identify and celebrate the leading ... Read More »