ITFA – Introducing the Chairperson of the Insurance Panel Discussion in Warsaw – Silja Calac

With the ITFA Annual Conference just around the corner, the ITFA Board is excited to announce that all preparations are well underway to ensure another successful and memorable event. To register on-line, to view the conference programme and for any other informative details, please click here.

At this year’s ITFA Annual Conference, Silja Calac, will chair the Panel discussion: ‘’Insurer – Bank Relationship: Evolution or Revolution?’’

Silja studied in Paris, where she obtained a Maîtrise d’Ingénerie en Commerce International (Masters Degree in International Trade) at ILECI (Institute of International Economics and Commerce). She acquired her first taste of Forfaiting and Trade Finance when joining the secondary market distribution team of BDEI-Credit Lyonnais, Paris as a junior trader in 1996.

Before taking over the responsibility as Global Head of UniCredit Group, Center of Competence for Trade Risk Management, Forfaiting Financial Institutions and Secondary Market in 2007, Silja worked in Singapore where she assisted in the establishment of a new Forfaiting Department within Bayerische Hypo-und Vereinsbank.

Silja currently works with Swiss Re as Senior Underwriter Surety with the Credit and Surety team, based in Frankfurt. Silja is also a Board Member of ITFA and Head of the ITFA Insurance Committee. She chaired the German Regional Committee of ITFA from 2010 to 2012. Further, she was also a member of the ICC Consultative Commission for the Drafting of the URF and Chairperson of the ICC URF task force until 2014.

The topical discussion will focus on three questions to be addressed by the representative of the bank to representatives of the brokers and/or insurers.

• For a newcomer to the insurance market, what criteria should the bank consider to select its broker and establish its first insurance partners? Banks have continuous flows of business whilst the insurance distribution market mechanism allows for a “pick and choose” behaviour from insurers, how should one go about trying to build a long term partnership?
• Has Solvency II had any impact on the Insurers’ ability to underwrite, both in terms of nature of risk and volumetrics and/or on premium expectations?
• The insurance market is dominantly based in London whilst the global banks business model is increasingly questioned and/or revisited towards regionalisation. How are the brokers and credit insurance market adjusting? What impact could Brexit have on:

• (a) business trends and set ups for brokers and insurers,
• (b) contractual relationship,
• (c) placement/underwriting behaviours and locations.

The panel will consist of the following three individuals:

Sébastien Heurteux – a 20 year experienced banker within BNP Paribas. His area of expertise has historically been International Trade Finance and Commodities working for the bank with SMEs, Traders and large International Groups. He has supported trade flows with a variety of emerging countries in Asia, Middle East and Africa. His interaction with the Insurance Industry started long before endorsing his current role as Deputy Head of Trade & Insurance Syndications. Today, he coordinates a team dedicated to Insurance distribution within BNPP. Sebastien is also a founding member of the ITFA Insurance Committee. His latest contribution to ITFA was on some works regarding the possible impact of Basel IV on the credit Insurance market for IRBA banks.

Katie Fowler – became a broker at Texel Finance Limited in 2008 and places political and trade credit risk insurance for bank, trader and corporate clients.  Katie specialises in structuring and negotiating insurance policies to meet clients’ risk management and regulatory needs and has a successful track record placing insurance for complex and/or difficult risks, whilst managing a team of brokers who handle and secure insurance for trade finance flow transactions within Lloyd’s and the company markets.

Elizabeth Dexter – is a Senior Underwriter at Liberty Specialty Markets (LSM) on the Global Financial Risks team. LSM’s GFR division provides insurance solutions to corporations and financial institutions. Clients include government agencies, international banks, multi-nationals and global commodity companies as well as a wide range of exporters and contractors.  Lines include political risk, contract frustration, trade credit and commercial credit.   Lizzy is also on the ITFA Insurance Committee and the team responsible for drafting the Insurance Guidelines. She was also the President of the Lloyd’s of London Non-Marine U30s Group from 2014-2016. Lizzy has a BSc (Hons) from the University of Warwick and is ACII qualified.

We look forward to this discussion and to welcoming Silja and the rest of the panel in Warsaw!