Allianz Trade in Asia Pacific has appointed Harry Edwards as the new commercial director for the ASEAN region, effective Oct. 21.
Edwards (pictured) will manage commercial activities across six countries in the region, including Singapore, Malaysia, Thailand, and Indonesia.
He succeeds Céline Peredy, who has moved to the role of strategic account director for Allianz Trade for multinationals. Edwards will be based in Singapore.
Edwards joined Allianz Trade in 2015 as a new business underwriter in London, and later moved to Dubai as head of portfolio for the Gulf Cooperation Council (GCC) countries.
He most recently served as head of distribution in the Middle East, focusing on sales strategy and product promotion. He holds a bachelor of arts degree from Newcastle University.
Domenico Lup, CEO of Allianz Trade in ASEAN, said Edwards’s leadership will be key to strengthening the company’s business and partnerships.
“As the dynamic ASEAN region continues to present unique opportunities and challenges, I am confident that Harry’s leadership and his extensive experience across diverse markets, especially in the fast-growing Middle East region, will play a pivotal role in expanding our commercial success and delivering exceptional value to our customers and partners,” he said.
Edwards expressed his enthusiasm for his new role, affirming his commitment to working with the ASEAN teams to grow the business, strengthen customer loyalty, and build on the trust business partners have in Allianz.
“Leveraging my experience across diverse markets and alongside the strong teams in place that we have in ASEAN countries, I believe that we have a bright future to shape and scale our growth ambitions, confirm the loyalty our customers have in us, and cement the trust our partners expect from the Allianz brand,” he said.
In a separate development, Allianz Trade has updated its global business insolvency forecast, predicting an 11% rise in 2024, followed by an additional 2% increase in 2025.
This revision reflects the impact of ongoing economic challenges, including weak demand, geopolitical tensions, and uneven access to financing, as outlined in the company’s latest Global Insolvency Report.
The company had previously projected a 9% rise in insolvencies for 2024, but the updated forecast reflects worsening economic conditions. Allianz Trade now expects insolvency levels to remain high through at least 2026.
Aylin Somersan Coqui, CEO of Allianz Trade, explained that the rise in insolvencies is due to the phasing out of support programs introduced during the pandemic and energy crises, which has left businesses, particularly in sectors like construction, retail, and services, vulnerable.
