Interview - Xavier Denecker: Trading ahead
Emmanuel Kenning questions Xavier Denecker, managing director of Coface UK and Ireland, about what the future holds for the multi-billion pound trade credit insurance industry.
Since the credit crunch, it has been all hands on deck for Denecker, who is at the forefront of changing the UK's trade credit insurance model. He admits that the events surrounding the failure of Lehman Brothers in September 2008 were remarkable: "Within weeks, we were faced with a dramatic increase in the cost of risk. From one moment to another, companies that were rated as investment grade moved to non-investment grade."
Trade credit insurers were stuck with a structure based on fixed
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