British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such as France, Germany and the Netherlands are giving guarantees …
The German government and the country’s credit insurance industry have agreed to help to maintain insurance cover for trade despite economic hardship related to the coronavirus outbreak, three people with knowledge of the plan said on Wednesday. Under the plan, …
European Union states are giving guarantees to credit insurers in a bid to keep coronavirus-hit companies afloat, as some firms cut cover for trade involving bloc members such as Italy and Spain, sources said. Without insurance, companies can be reluctant …
Channel Syndicate, which is backed by reinsurer SCOR, has appointed Caroline Coulson as a senior underwriter on the political and credit risks team within SCOR Specialty Insurance, effective immediately. Coulson started on March 23 and will report to Kade Spears, …
The number of companies in England and Wales unable to pay their debts rose to an almost six-year high in the third quarter as the Brexit crisis intensified. There were 4,355 company insolvencies, 0.4% more than in the second quarter, …
Companies are stepping up purchases of insurance to protect themselves against insolvencies in Britain, industry sources say, in part due to concerns about the impact of Brexit. The UK economy is feeling the pinch from the political uncertainty, which has …
French bank Natixis said on Monday that it was not in talks over a possible takeover offer for Coface, the credit insurance subsidiary in which Natixis has a stake of around 41.7%. “Natixis states that, as previously indicated, its investment …
Ottawa increased the insurance coverage available for canola exporters, a government corporation said on Thursday, as it seeks to reduce trade risks amid a dispute with China. China halted purchases of Canadian canola in March, citing pests in shipments by …
Liberty Mutual Insurance has formed a $1 billion risk-sharing agreement with the Overseas Private Investment Corp. (OPIC), the U.S. government’s development finance institution, which furthers the company’s diversification strategy in a market when organic growth is hard to find. The …
British department store retailer Debenhams said it had a healthy cash position after a media report on Sunday saying insurers had cut cover for its suppliers sent its shares lower. Shares in Debenhams fell as much as 8 percent on …
