Allianz Trade launches business fraud insurance operations in Ireland. Insurance Business has reported that Allianz Trade has introduced standalone business fraud insurance in Ireland to support firms with more than 20 employees in addressing employee and third-party fraud risks. Vikshay Vijai, Head of Business Fraud in the UK and Ireland at Allianz Trade, will collaborate with Dean O’Brien, Country Manager – Ireland, and Michael Murtagh, Sales Manager – Dublin, to expand Allianz Trade’s business fraud portfolio in the region. The insurance covers losses caused by employees due to theft, fraud, embezzlement, trade secret infringement, or property damage. It also includes protection against losses from social engineering fraud, including impersonation fraud, such as fake president fraud. Losses due to third-party fraud, including robbery, burglary, fake buyers or suppliers, payment diversion, and forged invoices, are covered as well. To read Insurance Business' article, go to https://www.insurancebusinessmag.com/uk/news/breaking-news/allianz-trade-launches-business-fraud-insurance-operations-in-ireland-527882.aspx.
 

Five years after Brexit. Was it worth it? Atradius has published an article in which its Senior Advisor, Silvia Ungaro, notes that, although it would have been a tumultuous five years even without Brexit, Brexit appears to have compounded recent challenges, with one analysis revealing a £140 billion shortfall in the UK economy, as a direct result of leaving the EU. "The trade picture remains grim for the UK five years after leaving the EU", commented Dana Bodnar, Economist at Atradius. Atradius advises that the UK's total trade in goods stands at 88% of its pre-Brexit level, and UK goods exports at just 82%. By contrast, EU trade volumes have rebounded and are now on a par with levels seen in January 2020. The article adds that, even if the UK's growth outlook for 2025 looks brighter than that of other major European economies, it remains below its 2% average annual rate prior to Brexit and the trade outlook, in particular, remains highly uncertain. To read Atradius' article, go to https://group.atradius.com/knowledge-and-research/news/five-years-after-brexit-was-it-worth-it.

Is the UK back after the "painful Brexit episode?" Coface has indicated that, following a period of intense political turmoil, the UK is now on a path to greater stability and gradual recovery, supported by easing corporate insolvencies, lower interest rates, and pro-growth policies in the pipeline. For example, the Planning Bill, set to be introduced in March, is expected to benefit the construction sector, while industrial policies in the first half of the year should encourage investment. Furthermore, although still higher than their pre-crisis levels, UK business insolvencies, which had risen earlier than elsewhere in Europe (since late 2021), appear to be on the decline. As a result, Coface has upgraded the UK's country risk assessment from A4 to A3, a risk level now at par with those of France and Germany. To read Coface's assessment, go to https://www.coface.uk/news-economy-and-insights/will-all-of-the-advanced-economies-stay-ahead#is-the-uk-back-after-the-painful-brexit-episode.

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UK retail sector shows modest recovery in 2024 amid ongoing challenges and insolvency risks. Tokio Marine HCC's latest thought leadership article on the UK retail sector advises that, after falling for two years in a row, UK retail sales increased by a "lacklustre" 0.7% in 2024 – albeit remaining 2.5% below their pre-Covid reading. According to data from the Office for National Statistics, three of the four most important retail sub-sectors reported sales growth: non-food stores (+1.2%), non-store retailing (+3.2) and automotive fuel (+3.8%), while food stores (down by 1.2%) recorded a decline. Also encouragingly, insolvency risk in the UK has moderated in 2024, following three years of sizable increases, with January - November 2024 data indicating a 12% decline in retail insolvencies. In 2024, large retailers that went under included Carpetright, CTD Tiles, Homebase, Lloyds Pharmacy, Ted Baker and The Body Shop. To read the thought piece, go to https://www.tmhcc.com/en/news-and-articles/thought-leadership/uk-retail-sector-report-2025.​​

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Saudi EXIM signs reinsurance agreements with Allianz Trade, Bpifrance, and AIG. Reinsurance News has reported that the Saudi Export-Import Bank (Saudi EXIM) has signed three reinsurance agreements with Allianz Trade, Bpifrance, and American International Group (AIG) to bolster trade finance and credit insurance solutions. The article notes that the three agreements mark a milestone in Saudi EXIM's "Bridges" Initiative, through which the bank is establishing a series of reinsurance agreements with leading export credit agencies and private insurers to ensure a secure and sustainable flow of essential raw materials and capital goods. To read Reinsurance News' article, go to https://www.reinsurancene.ws/saudi-exim-signs-reinsurance-agreements-with-allianz-trade-bpifrance-and-aig/.

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WICI (Women in Credit Insurance) spotlight on Ben Handley. ICISA has published an interview with Ben Handley, Director and Regional Leader at WTW. With a wealth of experience in the trade credit insurance industry, Ben discusses the importance of diversity and equality in the workplace, highlighting the role of organisations like WICI in raising awareness and providing role models. He also reflects on the challenges leaders face today, particularly the need to keep up with constant change within the industry and the wider world. Ben's advice for aspiring leaders is simple but powerful: believe in yourself, keep learning, and constantly adapt. Outside work, Ben enjoys supporting his children's sports activities. To read ICISA's interview, go to https://icisa.org/news/14418/.

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Mandatory EU e-invoicing: Five transformative benefits for credit insurance. Tinubu has advised that the EU's new e-invoicing standards, which began taking effect in 2024, are set to benefit the trade credit insurance industry. Tinubu suggests that with countries like Poland and Romania already mandating e-invoicing, and others expected to follow suit later this year and in 2025 and 2026, the industry will benefit from enhanced data accuracy, faster processing times, reduced fraud risks, and improved underwriting and claims management. Furthermore, one of the most transformational outcomes of e-invoicing is its potential to usher in a new era of customised credit insurance solutions, with credit insurers able to design policies tailored to specific trading relationships and payment patterns. To read Tinubu's article, go to https://www.tinubu.com/blog/mandatory-eu-e-invoicing-5-transformative-benefits-for-credit-insurance.

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Coface's 2025 Country Risk Handbook is now available. Coface has published its Country Risk Handbook for 2025. The latest edition delivers a detailed analysis of over 160 countries, integrating macroeconomic indicators, sector-specific assessments, and political risk evaluations.

The analysis includes:

• Detailed country-by-country economic indicators and forecasts

• Sector-specific risk assessments across 13 major industries

• In-depth political risk analysis and its impact on business operations

• Special focus on supply chain resilience and environmental challenges

• Regional trends and their implications for international trade

• Expert analysis.​​​​​​​

To download a copy, go to https://www.coface.uk/news-economy-and-insights/coface-s-2025-country-risk-handbook-an-essential-guide-for-ceos-financial-directors-and-credit-managers.

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​Financing a sustainable future: The BUlletin, February 2025. The February 2025 issue of Berne Union's BUlletin is now available. In advance of the Berne Union / ICC Joint Sustainability Workshop in London (27-28 February), this edition of the BUlletin explores themes including unlocking green-driven investment for SMEs, aligning export and development finance for sustainable infrastructure, and the role of political risk insurance in fostering long-term investment. The publication also examines innovation in credit insurance, the evolving debate on down payments and maximum official support, and the implications of Ukraine's changing status quo for supply chains. To read the latest issue, go to https://www.berneunion.org/Publications/Details/87.

​Abacus changes its name to UK Credit Insurance Brokers Limited. Abacus Credit Insurance Brokers, a Hertfordshire-based company incorporated in 2019 by David Gurnett, has announced that it has changed its name to UK Credit Insurance Brokers Limited. To see their new logo, go to https://ukcreditinsurance.com/.

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The Channel Partnership becomes Specialist Risk Insurance Solutions Limited. On 3rd March 2025, The Channel Partnership undertook a business transfer into Specialist Risk Insurance Solutions Limited (SRIS), the specialty clients pillar of its parent company, Specialist Risk Group (SRG). Since 2020, SRG has welcomed several specialist people and businesses to the Specialty Clients pillar: Insolvency Risk Services/Probate Property Solutions, Emrose Insurance Brokers/Cabsurance, The Channel Partnership, KBIS British Equestrian Insurance, Hamilton Leigh Insurance Brokers, TLO Risk Services, Consort Insurance, Fleet and Commercial, TLO Risk Services and CBC Partnership. To take a look at the new website, go to https://srinsurancesolutions.co.uk/service/trade-credit/?.

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​​​​​Readers raising funds for charity

Tom Bancroft's fundraiser for Spread a Smile. Tom Bancroft, Head of Marketing at Coface UK & Ireland, and his brother James are taking on the Isle of Wight Challenge on 3-4 May, an ultramarathon of over 60 miles, to raise vital funds and awareness for Spread a Smile. Spread a Smile's mission is to distract seriously ill children and teenagers from the monotony of extended hospital stays by spreading joy and laughter. Every year, their teams of entertainers make thousands of virtual and bedside visits, distracting children from pain and treatment, breaking the monotony of the hospital environment and creating positive memories for them, their parents and siblings. To donate to Tom and James' fundraising page, go to https://www.justgiving.com/page/bancroft?utm_medium=FR&utm_source=CL.

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John Joseph's fundraiser for MCA Trust. John Joseph, Senior Underwriter at AIG Trade Credit, is gearing up for a charity bike ride from London to Brighton on 15 June to raise funds for the MCA Trust, a charity supporting children battling cancer in Essex and London. The funds raised will specifically benefit the MCA Trust's new Education & Careers Scheme, launching in 2025. This pioneering initiative aims to address the educational gaps children may experience due to cancer treatments, helping them stay on track with their education and career aspirations. To donate to MCA Trust's fundraising page, go to https://www.justgiving.com/campaign/mcatrustlondontobrighton2025.

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Stephen Uwins fundraises for Sands in memory of Mia. Stephen Uwins, Director at CMR Insurance Services, is fundraising for the charity Sands in memory of his sister and brother-in-law’s baby girl, Mia, who tragically passed away last October. This March, Stephen’s family will participate in the 100km Sands Walk to honor Mia’s memory. Sands is a charity that provides essential support to families grieving the loss of a baby, advocates for change, and funds vital research to reduce stillbirths and neonatal deaths, ensuring no family faces this unimaginable pain alone. To support Stephen’s fundraising efforts, visit: to https://fundraising.sands.org.uk/fundraisers/stephenuwins/walk-100k-in-march.