trade credit insurance News

Hopes of ‘Brexit Benefit’ From Tariffs in UK Were Short-Lived

The US has decided – again – to upend the global trading system. With the latest raft of tariffs just beginning to kick in, and after a week in which markets worldwide fell precipitously, the Trump administration announced that it …

Canadian Exporters Inquire About Trade Credit Insurance as Trump’s Tariffs Raise Risk

A little-known insurance product is gaining traction in Canada as exporters seek to guard against losses and bankruptcies of their suppliers and customers due to U.S. President Donald Trump’s tariffs, insurers said. Trade credit insurance for insolvencies of foreign customers …

Global Credit Starts to Wobble as Market Pain Spreads

Global credit markets began to come under fire on Monday, driving the cost of insuring against corporate and sovereign default higher, as recession fears rippled across equities, commodities and currencies. Trillions of dollars have been wiped off global stock markets …

Broker Clear Group Buys UK Credit Insurance Specialist Rycroft Associates

The Clear Group, the London-based independent broker, announced it has acquired the book and assets of credit insurance broker Rycroft Associates LLP and its sister company and appointed representative, Inspire Credit Management Ltd., a delegated authority specialist. The company was …

Zombies: Ranks of World’s Most Debt-Hobbled Firms Soaring, and Not All Will Survive

They are called zombies, companies so laden with debt that they are just stumbling by on the brink of survival, barely able to pay even the interest on their loans and often just a bad business hit away from dying …

Arthur J. Gallagher & Co. Acquires Australia’s Prasidium Credit Insurance

Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced the acquisition of Australia’s Prasidium Credit Insurance. Terms of the transaction were not disclosed. North Sydney-based Prasidium is a specialist trade credit insurance broker serving clients throughout Australia. Mark …

Double Whammy of Insurance and Energy Costs to Trigger UK Insolvencies, PwC Warns

More than 30,000 British companies went bust last year, with accountants warning of a “double whammy” to come in April that could trigger another wave of insolvencies. Big businesses were the worst hit, according to a report published Thursday by …

Xenia to Buy UK Trade Credit Insurance Broker Linda Scott Associates

Xenia Broking Group Ltd. (XBGL) announced it has agreed to acquire the trade credit insurance business of Linda Scott Associates Limited (LSA). The transaction is expected to complete on Dec. 22, subject to certain closing conditions, following which XBGL will …

Dutch Government to End Credit Insurance for Fossil Fuel Exports

The Dutch government on Thursday said it intends to stop giving companies and banks credit insurance for exports in the fossil fuel sector as of Jan. 1, following through on a pledge made at the COP-26 climate conference in Glasgow. …

Japanese Insurer Tokio Marine Says Greensill Obtained Policies Fraudulently

Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would “vigorously defend” itself against any legal claims. Greensill’s supply chain …