Trade credit insurer Coface New Zealand has expanded its risk underwriting team by appointing Seif Nasser as senior risk underwriter, responding to rising credit concerns amid economic volatility.
This development underscores the growing role of credit insurance in helping New Zealand businesses manage financial risk in uncertain conditions.
David Meys, Coface New Zealand’s commercial director, noted that Nasser’s experience aligns with the company’s goal to support the New Zealand market’s demand for credit insurance solutions.
“Given the current economic climate, credit insurance has become a top priority for businesses, and Seif’s insights will be instrumental in helping them navigate these challenges. His arrival comes at a crucial moment for businesses navigating growing economic uncertainties, with credit insurance gaining prominence as a key tool in mitigating financial risks,” he said.
Nasser (pictured) joins Coface as New Zealand businesses face intensified credit risks.
Commenting on his new role, he emphasised the effects of prolonged economic uncertainty, higher days sales outstanding, and increasing insolvencies on business credit health.
“The ongoing economic uncertainty, coupled with rising days sales outstanding and a surge in insolvencies, has highlighted the critical need for effective credit risk management strategies,” he said.
He added that a 52% increase in total tax debt over the past two years and the highest insolvency rates in 10 years underscore the importance of proactive measures to mitigate credit risk. Therefore, businesses must have the right tools and expertise to safeguard their financial health.
The appointment follows the launch of Coface’s trade credit insurance solution for New Zealand SMEs.
In his role, Nasser will focus on assessing and structuring credit risk coverage for Coface New Zealand clients.
Meys said that Nasser’s expertise will allow the company to tailor solutions for various sectors, helping New Zealand businesses maintain resilience.
“Seifs’ expertise will further enable the company to structure tailored credit insurance solutions that address the specific needs of businesses operating in various sectors. Coface New Zealand's investment in its risk underwriting team reflects its dedication to delivering exceptional service and supporting the growth and resilience of New Zealand businesses,” he said.
Nasser expressed enthusiasm for the opportunity to collaborate with the Coface team.
“I’m thrilled to embark on this new chapter with Coface New Zealand. I look forward to working alongside this talented team and building even stronger relationships with our valued brokers,” he said.
