trade credit News

Lloyd’s Insurer Chaucer Expects Underwriting Loss During Q2 2016

The impact of catastrophes, large loss activity and foreign exchange movements are expected to bring an underwriting loss for Chaucer in the second quarter, when it will report a combined ratio in the range of 103 to 105 percent, according …

SMEs Reap Benefits from Trade Credit Insurance as Economic Risks Rise: UK’s ABI

Nearly £36 million ($52.6 million) was paid in insurance claims to small businesses last year, due to customer insolvency or late payment, according to figures released by the Association of British Insurers (ABI). With the Bank of England recently cutting …

Allied World Offers Trade Credit & Political Risk Products in Canada

Allied World Assurance Company Holdings AG announced its suite of trade credit & political risk insurance products are available in Canada, as part of the Global Crisis Management Division. This coverage helps clients mitigate the risk of non-payment due to …

Hyperion Unit, RKH Specialty, Acquires UK Surety Broker, PMG

Specialty lines broker, RKH Specialty, part of the Hyperion Insurance Group, has acquired the UK’s largest independent specialist Surety broker, PMG Financial Services Ltd., subject to regulatory approval. Barnaby Rugge-Price, CEO of RKH Specialty, commented: “The acquisition of PMG represents …

ACE Names Hudson as Global Head of Trade Credit Insurance Business

ACE Group announced the appointment of Julian Hudson as head of Trade Credit, ACE Global Markets, effective immediately. In his new role, Hudson will be responsible for the development and profitable growth of ACE’s global trade credit business, the company …

RKH Appoints Schlossmacher as Co-Managing Director of Financial Risks Division

RKH Specialty, part of the Hyperion Insurance Group, has appointed Gert Schlossmacher as co-managing director of its Financial Risks Division. Schlossmacher will join in January 2016, reporting to Barnaby Rugge-Price, CEO of RKH Specialty. Schlossmacher joins RKH from Euler Hermes, …

Russia Will Suffer Ukraine Economic, Political Fallout for Years: Euler Hermes

Russia will suffer the economic and political fallout of the Ukraine crisis for years to come, according to Euler Hermes Group, the world’s biggest trade credit insurer. Euler Hermes expects Russia’s economy to contract 5.5 percent this year and 4 percent …

Allied World Commences In-House Trade Credit Insurance Platform

Allied World Assurance Company Holdings AG announced the commencement of its in-house trade credit and political risk insurance platform with the completion of its previously announced acquisition of its former program administrator, Latin American Underwriters Holdings Ltd. LAU has underwritten …

Marsh Acquires Trade Insure NV in Belgium

Marsh, a global leader in insurance broking and risk management, announced it has acquired Trade Insure NV, a distributor of credit insurance policies in Belgium. Terms of the transaction were not disclosed. Founded in 1990 and based in Aalst, Belgium, …

Allied World Assurance Acquires Latin American Holdings

Allied World Assurance Company Holdings AG announced that its U.S. holding subsidiary has reached a definitive agreement to acquire Latin American Holdings Ltd., a program administrator that has underwritten trade credit and political risk coverages solely for Allied World since …