1 minute read
Foreword
Dear reader,
Before you, you have a new edition of our Insider. This edition comes in times of uncertainty. Just when stock markets were looking to recover some of the lost ground of 2022, a potential banking meltdown has found its way onto the front pages of the newspapers. The start-up world was shook by the demise of Silicon Valley Bank and Credit Suisse, a once undoubted pillar of the Swiss economy, needed an emergency rescue operation.
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The fearful tremble, the wise take precautions. That is exactly what the trade credit and surety industry has been doing. It is imperative for the world economy that trade credit insurers and sureties (with the valuable backing of the reinsurance community) keep their cool and their lines open wherever possible. And that means, let’s get back to business.
That is what this Insider is all about: business. Our business, specifically! A column written by Menso Kwint of Lombard Insurance of South Africa discusses the growing phenomenon we face in the shape of volatility and finding the opportunities among the challenges that it poses. Menso certainly provides food for thought, and room to be hopeful for the future. Elsewhere, our technical committees continue to work hard for the good of the industry and our clients. You can see for yourself in the recent report from the chair of our Asia Committee about their meeting in Bangkok, Thailand – their first in-person meeting in three years.
You will also see that surety is more than meets the eye in the update on S2C’s new Milan office. A location that promises sustainable working and a strong business environment. Warning: the article might make you want to apply to work there!
Please also don’t miss the articles on topics that continue to have bearing on our world. ESG is all about leaving a liveable world for future generations. This is hardly a topic that we can shy away from, as Alexis Garatti of Allianz Trade clearly shows. Elsewhere, Mahesh Mistry of AM Best looks at identifying the impact of ESG factors on a (re)insurer’s credit ratings.
I wish you an enriching read.
Richard
