The overall accounting profitability of China Export & Credit Insurance Corporation (SINOSURE) is likely to have declined in 2022, due partially to unrealised foreign-currency losses, says Fitch Ratings.
Trade credit insurers require time, information and resources to make assessments on credit risks. However, it may be tough for insurers to make decisions if clients begin purchasing coverage with limited time.
Jeddah-headquartered Islamic Corporation for the Insurance of Investment & Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group, has inducted Azerbaijan as its 49th member state.
Geopolitical uncertainties and instability and slow global economic recovery will drive global risk higher for Chinese companies' overseas investments.
Etihad Credit Insurance (ECI), the UAE Federal export credit company, played a crucial role in helping the UAE achieve record-breaking non-oil foreign trade growth in the first half of 2022, notes Fitch Ratings.
Allianz Trade has appointed Mr Domenico Lup as ASEAN CEO. Based in Singapore, Mr Lup will be responsible for overseeing the trade credit insurer's growth developments in six ASEAN countries including Singapore, Malaysia, Thailand and Indonesia.
An amendment to the Commercial Code means that banks and other lending institutions will not be able to force customers into buying life insurance as a condition of being granted a credit facility.
Etihad Credit Insurance (ECI) is expected to become profit-making in the next three years as it grows its revenue faster than its expense base following its initial start-up phase, says Fitch Ratings.
Of the insurance industry's total premium of around MAD50bn in 2021, technical and fire risks accounted for just over MAD2.26bn or 4.5% of the insurance market, according to data from the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR).
Allianz Trade in Asia Pacific has appointed Mr Shan Aboo as regional commercial director. Based in Singapore, he will be responsible for overseeing the trade credit insurer's commercial activities in 12 Asia Pacific markets.