Trade finance news

Coface conference report: UK trade credit premiums to rise

Last Updated January 25, 2008

UK trade credit premiums are likely to be increased by at least 9-10% in light of the global economic slowdown and the potential recession on the horizon. This week's stock market turmoil has only worsened concerns.

Speaking at the Coface Country Risk conference in Paris this week, Coface UK announced it was prepared to increase its premiums by 10%. It is a move that although insurers may be reluctant to announce, that will be likely to be adopted by across the UK trade credit insurance market.

Yet, given the uncertain economic climate, the demand for credit risk products is set to increase over the coming year.

Talking through a global overview of country risk, Coface's chief economist Yves Zlotowski, spoke in more optimistic terms about a "global slowdown”, rather than a “credit crunch” or recession. However, he described a gloomier picture of the economies in the UK, Spain and Ireland, all of which have seen strong economic growth in recent years and now are expected to see a decline. All three economies remain rated A1 by Coface, but have been placed on negative watch.

Yet, Zlotowski predicted relative stability across the rest of Western Europe with Germany and France keeping their A1 rating, and Italy maintaining its A2 rating.



Share This

Share |

Reader Comments

Add your comment

 
Email Icon
Follow Us on Twitter
Follow GT Review on
Twitter for the latest updates

twitter.com/gtreview

The endless arguments about why Africa is not trading within Africa are wearing thin. It is time for a coherent action plan to be drawn up, says GTR editor, Rebecca Spong.

 

GTR’s annual search for the best trade institutions in Asia has begun. Voting closes May 17.

Click here to book your entry to the GTR Directory 2012/13

GTR Directory 2012/13

Latest Conference Highlights


Kenya
Nairobi - May 22, 2012 
Lebanon
Beirut - June 6, 2012 
United States
New York - June 12, 2012 
The Netherlands
Amsterdam - June 18-19, 2012 
Ghana
Accra - June 26-27, 2012 
Singapore
Singapore - September 3-5, 2012 
United States
San Francisco - September 18, 2012 
Egypt
Cairo - October 10, 2012 
Indonesia
Jakarta - October 24, 2012 
Qatar
Doha - w/c 4 November, 2012 

emeafinance, the complete information source for the finance industry in the EMEA region.

EMEA