Due to growing trade volumes and increased pressure from regulators on capital requirements, banks are no longer in a position to provide for the needs of world trade finance on their own. Insurance has become a key element for mitigating risks in trade finance. But insurance companies have even entered the trade finance secondary market as investors on the assets side.

Insurance companies and brokers have therefore played a more and more active role within ITFA. The aim of the Insurance Committee, which was set up on 18 August 2015, is to improve the cooperation between banks, insurance companies and brokers in the mitigation of risk related to transaction banking assets. The committee also represents the interests of the insurance and broker members in ITFA.


  • Surveysto gain deeper understanding of the role that insurance plays in transaction banking, identify priority issues and help advocacy work
  • Education: compilation of presentations / educational seminars (Dubai / Nairobi / London / Frankfurt / Cairo / Paris)
  • Regulatory issues / advocacy: e.g. CRD IV: act as advisor, organize intervention with regulator, ITFA responses to the BCBS 362 paper and PRA consultation paper
  • Market standard documentation: guidelines on structure and content for CRR compliant non-payment policies
  • Advice: Insurance Committee Opinions

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Silja Calac of Swiss RE International SE

Head of Insurance Relations


David Neckar of Willis Limited


Sean Edwards of Sumitomo Mitsui Banking Corporation Europe Ltd


Geoffrey Wynne of Sullivan & Worcester LLP

Official Legal Advisor

Matthew Beckett of Sumitomo Mitsui Banking Corporation Europe Ltd


Sebastian Heurteux of BNP Paribas SA


Huw Owen of Liberty Specialty Markets


Katie Fowler of Texel Finance Limited