Willis has appointed Mr Seckin Atilgan as head of growth, trade credit in Asia, within its Credit Risk Solutions business.
The global trade credit market saw a reduction in claims volume and value in 2024, with 185 claims reported, totalling over $400m. The value of claims fell, in fact, by over $100m according to a survey by Lloyd's Market Association (LMA).
Paris-headquartered Global trade credit risk management company, Coface, has announced the closing of its acquisition of Cedar Rose Group, an information services provider in the Middle East.
These are the highlights for events and updates across the insurance industry this week.
Credit insurer Coface's 1Q2025 Asia payment survey reveals that businesses across Asia, facing economic uncertainty, are bracing for longer customer payment cycles.
The insurance industry has formed a co-insurance group covering domestic trade credit risk, to serve the national strategy of promoting consumption and expanding domestic demand.
Etihad Credit Insurance (ECI) has recorded an insured turnover reaching AED16.2bn ($4.4bn) -- reflecting a 15.7% year-on-year increase and accounting for 2.85% of the UAE's total non-oil exports, the UAE federal export credit company said in its 2024 annual report released last week.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has renewed a reinsurance treaty arrangement with the Compagnie Algérienne d'Assurance et de Garantie des Exportations (CAGEX) for the 2025 underwriting year.
Intensifying geopolitical rivalries, policy uncertainty and competition for critical minerals are reshaping the risk landscape as well as driving demand for protection, according to a new report by Howden.
These are the updates on insurance regulation across China this week.