A Word From The CEO
I’m excited to announce that, in May, we welcomed Zena Dang to our specialist team as General Manager of Sales Asia. Zena’s wealth of experience, following roles with Euler Hermes and Coface, adds to our specialist expertise. As our growth continues we are expecting to add a number of new staff to maintain the highest level of service available for Trade Credit Insurance in Asia.
The credit risk environment is still uncertain. Key factors we note is the surging oil price growth and knock on cost and price impacts this will have in many industries. We have seen more protectionism with Trump taking aim at Chinese imports and tit for tat responses on tariffs. We have experienced the fall out of India imposing tariffs on commodity imports which has resulted in many contract repudiations due to 30% price increases implemented without notice.
As the Asia region expands further using open credit terms and competes more globally beyond the inter-Asia reliance currently the uncertainties of bad debts and government actions continue to be a concern.
Of course credit insurance provides the confidence to expand and grow!