Allianz Trade expands its Excess of Loss (XoL) reach with additional resources in Germany and Singapore, and new teams in Spain and Brazil

BALTIMORE, April 18, 2023 /PRNewswire/ -- Allianz Trade, the world's leading trade credit insurer, is building on the success of its Excess of Loss (XoL) teams in the UK and US by continuing its growth with new recruits in Germany, Singapore, Spain and Brazil.

As it celebrates 10 years of XoL in the UK and US, and the success of the more recently created team in Germany, Allianz Trade is accelerating the development of XoL by investing not only in new, carefully selected markets which have a real need for this solution, but also in the operational side of its XoL division.

As insolvencies rebound and as a result of a slowdown of economic activity at a global scale, Allianz Trade expects companies to need increasing support and protection against potential large and unexpected losses in 2023.

Allianz Trade is committed to supporting these markets by investing in dedicated teams on the ground. This translates into additional resources in Germany and Singapore, where the company already delivers XoL solutions, and the creation of new XoL teams in Spain and Brazil, thus extending its global presence for this kind of solution.

Helping businesses mitigate significant and unexpected losses

The Excess of Loss solution supports over 300 companies today, protecting their balance sheets against exceptional credit losses. Designed to help companies mitigate significant losses, this credit risk management solution 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.

In addition to this catastrophe cover, Allianz Trade offers a wealth of information and expertise, with the most in-depth company database available in these markets, all of which can be used to enhance businesses' credit management.

"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", said Alexia Parmentier, Global Head of Excess of Loss at Allianz Trade.

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We predict trade and credit risk today, so companies can have confidence in tomorrow
Allianz Trade is the global leader in trade credit insurance and a recognized specialist in the areas of surety, collections, structured trade credit and political risk. Our proprietary intelligence network analyses daily changes in +80 million corporates solvency. We give companies the confidence to trade by securing their payments. We compensate your company in the event of a bad debt, but more importantly, we help you avoid bad debt in the first place. Whenever we provide trade credit insurance or other finance solutions, our priority is predictive protection. But, when the unexpected arrives, our AA credit rating means we have the resources, backed by Allianz to provide compensation to maintain your business. Headquartered in Paris, Allianz Trade is present in 52 countries with 5,500 employees. In 2022, our consolidated turnover was € 3.3 billion and insured global business transactions represented € 1,057 billion in exposure. For more information, please visit allianz-trade.com

Cautionary note regarding forward-looking statements
The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements. Such deviations may arise due to, without limitation, (I) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (II) performance of financial markets (particularly market volatility, liquidity and credit events), (III) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (IV) mortality and morbidity levels and trends, (V) persistency levels, (VI) particularly in the banking business, the extent of credit defaults, (VII) interest rate levels, (VIII) currency exchange rates including the euro/US-dollar exchange rate, (IX) changes in laws and regulations, including tax regulations, (X) the impact of acquisitions, including related integration issues, and reorganization measures, and (XI) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

SOURCE Allianz Trade