Woolworths exposure hits credit insurer
Credit insurer Euler Hermes Group released a profits warning in the wake of exposure to the Woolworths administration.
The Paris-based insurer expects net income for 2008 between 100m and 110m euros. In November, Euler Hermes reported nine-month income of 152m euros and forecast a profit for the fourth quarter.
Although Euler Hermes Group has business worldwide, it still faces big claims from suppliers who had trade credit insurance when Woolworths Group Plc went into administration last month.
A company statement said: “Reduced consumer spending combined with tightening financial conditions will continue to maintain pressure on the liquidity of corporates."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
