China Export & Credit Insurance Corporation's (SINOSURE) has shown weak operating profitability amid the industry's volatile underwriting results, notes Fitch Ratings.
The IRDAI has issued draft guidelines for general insurers to offer trade credit insurance products with customised covers for Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMEs).
Africa has been relatively spared from COVID-19 in 2020 compared to other continents, but economically, the consequences have been dramatic. With an estimated global growth rate in 2020 of -3.8%, the decline in economic growth in sub-Saharan Africa is expected to translate into a decline in GDP of 3.3%, according to Mr Lionel Piquer, CEO of Coface Maghreb, West and Central Africa.
On Monday, 8 March 2021, supply chain financing specialist Greensill Capital (Greensill) filed for insolvency after Credit Suisse decided on 1 March 2021 to suspend funds worth $10bn that were mostly linked to Greensill.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Arab Investment & Export Credit Guarantee Corporation (Dhaman) have jointly signed a Quota Share Reinsurance Agreement with the Jordan Loan Guarantee Corporation (JLGC).
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has launched its new brand logo and website in a bid to reflect its staunch commitment to continuously integrate innovation in accelerating and sustaining the national economic diversification of the country.
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has partnered with the UAE International Investors Council (UAEIIC) to support Emirati investments abroad and protect UAE export businesses globally.
Turk Eximbank has signed a reassurance cooperation agreement with Austria's official export support institution, OeKB Gruppe, Turkey's Trade Minister Ms Ruhsar Pekcan announced.
The COVID-19 crisis has created an insolvency time bomb which is set to spark a series of insolvencies in 2021, particularly as stimulus measures introduced by governments around the world wear off.
Saudi Arabia's Finance Ministry, through the National Debt Management Centre (NDMC), has signed a long-term financing agreement with Korea Trade Insurance Corporation (K-Sure).