British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such as France, Germany and the Netherlands are giving guarantees …
The German government and the country’s credit insurance industry have agreed to help to maintain insurance cover for trade despite economic hardship related to the coronavirus outbreak, three people with knowledge of the plan said on Wednesday. Under the plan, …
Insurance intermediary holding company Nexus Group announced that its independent broking arm, Xenia Broking Group, has completed the acquisition of the trade credit business of Howden UK Group Ltd. Financial details of the transaction, which was first announced on March …
European Union states are giving guarantees to credit insurers in a bid to keep coronavirus-hit companies afloat, as some firms cut cover for trade involving bloc members such as Italy and Spain, sources said. Without insurance, companies can be reluctant …
Most companies in Britain don’t have insurance cover for closures caused by the coronavirus outbreak, the Association of British Insurers said on Tuesday. The government recommended on Monday that people avoid restaurants, bars and clubs, and work from home where …
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because epidemics are excluded from …
Insurance intermediary holding company Nexus Group announced that its independent broking arm, Xenia Broking Group, has entered into an agreement to acquire Howden UK Group’s trade credit broking business, based in Birmingham, Glasgow, Manchester and Cardiff. Once the transaction is …
Global insurers and reinsurers are exposed to the coronavirus outbreak directly through a potential spike in claims, and indirectly through the impact on economic growth and the resultant financial market volatility, according to a report from Moody’s Investors Service. An …
Arch Capital Group Ltd. has entered into a share purchase agreement with Natixis regarding the acquisition of a 29.5% stake in Coface, a France-based trade credit insurer. The transaction will be completed at a price of €10.70 per share, corresponding …
Nexus Specialty Inc., part of MGA Nexus Group, has formed a new program agreement with Crum & Forster that allows Nexus to underwrite their trade credit products on a fully admitted basis in the U.S. Nexus Specialty Inc. has been …
