Less than 3 per cent of Carillion’s trade creditors insured themselves!

As many of our readers will know, the construction and outsourcing services provider Carillion collapsed two weeks after the start of 2018 weighed down by the massive £2.2 billion debt and pension liabilities, which became the largest corporate bankruptcy in the UK in a decade. As it turned out, the vast majority of UK suppliers to Carillion did not buy insurance against the risk of not being paid for the goods and services they provided. Out of the estimated losses of £1.2 billion, only £31 million was insured with trade credit insurance insurers according to ABI, amounting to…

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UK SMEs missing out on over £250bn of cashflow because of slow and late payments

According to a recent study by Siemens Financial Services, SMEs are an integral part of the UK economy, accounting for 47 percent of all private sector turnover. They bear the brunt of late payments and long payment terms. Businesses (with turnover of under £1m) wait for 72 days for payment. Businesses with an annual turnover of £1m-£10m wait on average 53-54 days, and the largest businesses wait on average 48 days. A typical SME spends 130 hours a year chasing outstanding invoices. The cost associated with this time taken is £10.8 billion per year. Unpaid invoices account for…

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Massive and increasing losses for unsecured and uninsured creditors in H2 2016

According to recent insolvency statistics from Infolink, total unpaid/unsecured credit losses totaled over £1.9 billion for the second half of the year, up 6 percent on the first half of the year. 80,000 ordinary unpaid trade creditors (excluding 8,000 occurrences of HMRC as creditors) lost an average of £23,900, from 5,178 insolvencies. The average asset shortfall for unsecured creditors in each Insolvency was approximately £499,000. At least 20 percent of the unpaid creditors don’t have sufficient financial reserves to stand the losses they are incurring; almost 10 percent of the unpaid creditors are themselves insolvent and 15 percent…

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Working capital solutions – new service

We are pleased to offer our select clients a solution allowing them to convert invoices from their creditworthy clients into cash on a flexible and low-cost basis and without any risk of recourse to them. LiquidityCo is your key to working capital as it's a cost-effective mechanism of risk-free financing your short-term cashflow gaps by converting invoices from creditworthy counterparties into liquid funds. Unlike other business funding products, the solutions we put together for select clients don't require any collateral, personal guarantees or counter-indemnities as non-payment risks are managed with the help of major credit insurance providers. Please…

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Bespoke credit reports and financial analysis services

We are pleased to offer our clients a credit reporting service on their existing and potential counterparties as a pay-as-you-go service. Our network of global analysts many of whom are CFA-qualified is available for ad-hoc or ongoing analysis requirements. Please get in touch to discuss this service in more detail. More information can be found on our dedicated site for this service: Finanalysts.com or via your normal contact on the Contact page.  

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Free quotes for your credit or political risk insurance requirements
No-obligation free quotes for insurance against political and credit risks

Free quotes for your credit or political risk insurance requirements

We are happy to say that we don't charge our clients for finding them an insurance solution. So if you are working on a transaction or with a portfolio which exposes your organisation to potential losses from credit or political risk events, please get in touch. We are happy to offer our customers a free no-obligation quote service for all of your political and credit insurance needs. Just pick up the phone or fill in our simple contact form with the description of the risks you are looking to cover and we will be in touch with quotes…

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Insurance solutions for the commercial and residential property sector
Property Residential

Insurance solutions for the commercial and residential property sector

Growing solid business and in need of financing? Consider releasing your cash reserves sitting idly as a deposit for your premises. Our dedicated service SaferLet has developed unique insurance solutions enabling clients unfreeze cash tied up in property deposits, while giving equivalent or even better security to their landlords - both commercial or residential. Please visit our specialist website - SaferLet.com for more information.

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Global economic trends in brief

Persistent low oil prices led to 10 energy companies with a cumulative turnover of EUR8.5bn filing for bankruptcy in the US in 2015 and 6 others (cumulative EUR3.4bn) ended up in a similar situation in Canada. Chinese state support for capital intensive sectors is fading away in favour of SMEs and high-tech research and development, as well as other high-end activities. China’s steel industry is particularly affected – overcapacity pressure – the largest insolvency worldwide in 2015 with Sino steel, worth EUR26bn, gone bankrupt in October 2015. Insolvencies are projected to increase by +2 percent worldwide in 2016,…

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Credit insurance taught by us at an energy conference in London

Credit insurance as a tool of counterparty risk management was the topic of our MD's seminar at the Marcus Evans conference held 21-22 November at Hilton Canary Wharf, London, United Kingdom, to a group of energy sector experts interested in the topic in the current economic climate. Vlad shared his knowledge gained from many years with various major banks, insurers and insurance broking companies on how to effectively protect against counterparty political and credit risks while optimising costs on sourcing potential insurance protection. Various examples of different risk transfer structures used by companies and financial institutions were provided to illustrate the concepts in…

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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Integer nec odio. Praesent libero. Sed cursus ante dapibus diam. Sed nisi. Nulla quis sem at nibh elementum imperdiet. Duis sagittis ipsum. Praesent mauris. Fusce nec tellus sed augue semper porta. Mauris massa. Vestibulum lacinia arcu eget nulla. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur sodales ligula in libero. Sed dignissim lacinia nunc. Curabitur tortor. Pellentesque nibh. Aenean quam. In scelerisque sem at dolor. Maecenas mattis. Sed convallis tristique sem. Proin ut ligula vel nunc egestas porttitor. Morbi lectus risus, iaculis vel, suscipit…

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