By Mark Attley

The big three global credit insurers Euler, Coface and Atradius continue to maintain their Investment Grade ratings despite the worst financial industry results in decades. At a recent meeting of the International Credit Brokers Alliance (ICBA) in London, England, Jérôme Cazes, CEO of The Coface Group, outlined his perspective on the current credit crisis and what we can expect over the coming year. Alliance members were treated to a blunt assessment of the present situation, which, if mirrored by the other two insurers, gives an indication of the scope of the challenges confronting the industry. Ironically, M. Cazes provided some hope and assurance that there is light at the end of the tunnel–versus a torch carried by the grim reaper of capitalism.

Click to read more ...