November 2017

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.

surety
From left to right: Bill Backhouse (Tokio Marine HCC); Azman Noorani (Swiss Re Corporate Solutions); Ludovic Cherioux (Chubb); Romaric de Corbiere (BNP Paribas); Claudia Lopes (Standard Chartered); Reinoud Le Coultre (ING Bank); Boris Jaquet (Deutsche Bank) (Silja Calac, Swiss Re Corporate Solutions); Shannon Manders (GTR)
  • 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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