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Credit insurance

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  1. Credit insurance An overview from the side of a reinsurer Bert Zandvliet Tunis, October 23 2000

  2. Development of world trade

  3. The credit insurance market Total volume 1998: DM 11,5 Bln

  4. Credit insurance in Europe (before 1990) Hermes Coface Euler Group Gerling Kredit NCM Group

  5. Credit insurance in Europe (current) Hermes Coface Euler Group Gerling Kredit NCM Group

  6. The world credit insurance market (current) Hermes Coface Euler Group Gerling Kredit NCM Group

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

  8. Global policy

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

  10. IT communication changes the product offering • Faster Service • Risk Management via e-commerce

  11. Current issues • Primary accumulation • Reinsurer’s accumulation • Cyclical accumulation • Mergers

  12. Current issues • Primary accumulation • Reinsurer’s accumulation • Cyclical accumulation • Mergers

  13. Current issues • Primary accumulation • Reinsurer’s accumulation • Cyclical accumulation • Mergers

  14. Current issues • Primary accumulation • Reinsurer’s accumulation • Cyclical accumulation • Mergers THE WORLD’S LARGEST RETAILERS In bln. Euro 133,19 Wal-Mart 27,4 19,6 47,01 Carrefour/Promodes 46,89 Metro Sears Roebuck 39,54 32,22 K-Mart

  15. Credit business within Munich Re

  16. 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