Credit insurance

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Credit insurance

• An overview from the side of a reinsurer

Bert Zandvliet Tunis, October 23 2000
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Development of world trade
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The credit insurance market
Total volume 1998 DM 11,5 Bln
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Credit insurance in Europe (before 1990)
Hermes Coface Euler Group Gerling Kredit NCM
Group
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Credit insurance in Europe (current)
Hermes Coface Euler Group Gerling Kredit NCM
Group
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The world credit insurance market (current)
Hermes Coface Euler Group Gerling Kredit NCM
Group
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Market developments

• Short-term risks private market
• Medium-term risks increasingly ceded to the
  private market. Risk appetite is not everywhere.

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Global policy
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Political Risk

• Convertability and transfer risk
• War, strikes, riots and civil commotion
• Confiscation, nationalization
• State-owned buyers
• Other measures taken by a state

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IT communication changes the product offering

• Faster Service
• Risk Management via e-commerce

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Current issues

• Primary accumulation
• Reinsurers accumulation
• Cyclical accumulation
• Mergers

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Current issues

• Primary accumulation
• Reinsurers accumulation
• Cyclical accumulation
• Mergers

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Current issues

• Primary accumulation
• Reinsurers accumulation
• Cyclical accumulation
• Mergers

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Current issues

• Primary accumulation
• Reinsurers accumulation
• Cyclical accumulation
• Mergers

THE WORLDS LARGEST RETAILERS
In bln. Euro
133,19
Wal-Mart
27,4
19,6
47,01
Carrefour/Promodes
46,89
Metro
39,54
Sears Roebuck
32,22
K-Mart
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Credit business within Munich Re
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Position Munich Re

• Support the start-up and further development of
  export credit insurance
• Support the privatization of risks and portfolios
  which have been backed up by states
• Support for international organizations
• Long-term orientation to profit
• Active role of the reinsurer