The use of sureties has grown steadily over the last decade as insurers have started to cover the banks’ guarantee business within their surety activities.
Global Trade Review (GTR) brought together a group of underwriters and banks to provide an overview of why this kind of cover is increasingly sought after by banks and how the business is developing.
Deutsche Bank’s Boris Jaquet, EMEA Head, Distribution and Credit Solutions joined the panel, chaired by Silja Calac, Senior Surety Underwriter at Swiss Re Corporate Services. He commented that surety is a very flexible instrument and, in Deutsche Bank’s view, “behaves much more like a bank product than an insurance product”. He added, “Not only is it a great tool to optimise capital allocation management, but it remains a very competitive de-risking instrument, which explains its growing popularity.”
- Bill Backhouse, Underwriting Manager, Surety, Tokio Marine HCC
- Silja Calac, Senior Surety Underwriter, Swiss Re Corporate Solutions (Chair)
- Ludovic Cherioux, Underwriter Surety Europe, Chubb
- Romaric de Corbiere, Head of Syndicate, Trade and Insurance Syndications, BNP Paribas
- Boris Jaquet. EMEA Head, Distribution and Credit Solutions, Deutsche Bank
- Reinoud Le Coultre, Head, FI Trade Portfolio Management and Distribution, ING Bank
- Claudia Lopes, Director, Trade Credit Insurance – EMEA and Americas – Standard Chartered
- Shannon Manders, Editorial Director, GTR
- Azman Noorani, Head of Surety, Swiss Re Corporate Solutions
To view the whole panel session along with photography of the proceedings please click on the link below
GTR Roundtable: Surety for Banks
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