Allianz Trade, a leading trade credit insurer, is expanding it Excess of Loss (XoL) footprint in Germany, Singapore, Spain and Brazil.
Allianz Trade has positioned itself as a global leader in trade credit insurance and a recognised specialist in the areas of surety, collections, structured trade credit and political risk.
The Excess of Loss solution supports over 300 companies, protecting their balance sheets against exceptional credit losses. Allianz said the solution is designed to help companies mitigate significant losses. The credit risk management solution also improves balance sheet efficiency. It is based on the company’s existing credit management procedures and features non-cancellable limits.
Accommodating medium to large corporates, Excess of Loss offers non-cancellable limits to protect against catastrophic incidents in the most uncertain of economic times, covering insolvency, protracted default and political risk.
Allianz Trade said that given the success of its XoL teams in the UK and the US, it is accelerating the development of its team by investing in new, carefully selected markets which have a “real need” for this solution.
The company added that as insolvencies rebound and as a result of an economic slowdown on a global scale, it expects companies to need increasing support and protection about potential large and unexpected losses in 2023.
Alexia Parmentier, global head of excess of loss at Allianz Trade, said, “Excess of Loss credit and political risk cover is particularly relevant in economic downturns as companies want the certainty of non-cancellable cover. By investing in local teams, we are ensuring our partners have access to Excess of Loss specialists in every region.”
Earlier this year, Allianz Trade, Two, a business-to-business (B2B) e-commerce payments platform, and Santander CIB, partnered to provide the first global B2B Buy Now Pay Later (BNPL) solution for large multinational corporates.
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