, APAC
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Allianz Trade expands excess of loss team in APAC

The company expects businesses to demand more support and protection in 2023.

Allianz Trade, a global trade credit insurer, is expanding its growth in Asia Pacific (APAC), Germany, Spain, and Brazil by adding new team members to build upon the success of its Excess of Loss (XoL) teams in the UK and US.

Allianz Trade is fast-tracking the progress of its XoL division by investing not only in new markets that have a genuine demand for this solution but also in the operational aspect of the XoL division, selecting markets carefully.

Allianz Trade anticipates that in 2023, due to the rise in ruination and the resulting global economic slowdown, businesses will require more support and protection against unforeseen significant losses.

ALSO READ: Demand for risk insurance in Asia 'steady' in 2023: Marsh

This implies allocating more resources in APAC and Germany, where the company is already offering XoL solutions, and establishing new XoL teams in Spain and Brazil, thereby expanding its global reach for this type of solution.

Presently, the XoL solution covers more than 300 companies, protecting balance sheets from exceptional credit losses. The XoL also boosts balance sheet efficiency on the back of a company’s existing credit management system and features non-cancellable limits.

XoL caters to medium to large corporates and provides non-cancellable limits to safeguard against catastrophic incidents during the most unpredictable economic periods. It covers insolvency, protracted default, and political risk.

 

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