All posts tagged: lci

[Blog] How is the ongoing trade war impacting the MENA region?

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The trade war between the US and China has been making global headlines in recent months. The headlines then turned into action, with the US implementing a 25% tariff on Chinese exports, worth billions of US Dollars. China responded with a similar approach – and the trade imbalance between the two countries became even more evident.

The world’s two largest economies found themselves in a trade war, which many economists say, will negatively impact the GDP of both countries and will slow trade growth in the long-term.

However, as the world watches on as the two nations battle it out publicly, some experts are analyzing the potential impact of the trade war, on the Middle East. When it comes to the MENA region, whilst the trade war seems like a distant battle, repercussions are already surfacing.

Countries in the MENA region may be forced to take sides, fueling the trade war further. In addition, as the US and China advance further into their battle, they may adopt a protectionist approach, to safeguard their country’s industries. This will lead to a decreased demand for goods from Middle Eastern markets, such as the oil exports from the region into China.

The full extend of the trade war between the US and China is yet to be seen and felt. Let’s hope that an amicable solution is found, before the trade industry is disrupted completely.

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LCI and SACE sign cooperation agreement

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LCI and SACE have signed a cooperation agreement, to enhance trade opportunities between Lebanon and Italy by supporting SMEs. The expertise and know-how of both entities will be extended to SMEs, along with training programs and technical assistance offered to financial institutions and commercial banks, as result of this agreement.

SMEs make up the majority of business institutions in both Italy and Lebanon, employing a large proportion of the national workforce. Thus, supporting their growth and enhancing trade opportunities, through trade credit insurance and the sharing of expertise, contributes towards a more prosperous economy.

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LCI appoints Dominique Charpentier as its new Chairman

The Lebanese Credit Insurer (LCI), has appointed Dominque Charpentier as its new Chairman at its Annual General Meeting held in May, 2017.

Charpentier led a seasoned career with extensive experience in the realms of finance and credit insurance, having held senior financial positions in corporations, namely CFO of SCOA and PINAULT Groups and then moving on to become Deputy CEO of Société Marseillaise de Crédit. In 1995, Charpentier ventured into the Credit Insurance industry, within the Euler Group where he was successively Deputy CEO of Cobac Benelux, CEO of Société Française de Factoring and CEO of Eurofactor. In 2002, he moved to Atradius Group, assuming the role of Managing Director of several divisions of the Group: Atradius Factoring, Atradius Bonding, Atradius Instalment Credit Protection and Atradius Credit Insurance Italy.

He then joined the Management Board of Atradius as Chief Insurance Operations Officer in 2013.

Throughout his career, he held numerous Board member positions in professional organizations across Europe, of which: In France, as Director of Association des Sociétés Financières (ASF); in Belgium as Director of Beroep Vereniging van het Krediet (BVK), and on an international level as Director and Chairman of International Factors Group (IFG).

In January 2017, Charpentier retired, and now serves as Chairman of the Supervisory Board of Graydon Holding NV in the Netherlands and has been newly appointed as the Chairman of LCI.

Charpentier graduated from Institut d’Etudes Politiques de Paris.

In his capacity as Chairman of LCI, Charpentier will bring his wide experience to support the company in implementing its growth strategy and in its development and expansion. Charpentier succeeds Gerard van Brakel who has been chairing LCI since it was founded in 2001.

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LCI elected to Board of Directors of ACAL

The Lebanese Credit Insurer (LCI), represented by its General Manager, Karim Nasrallah, was elected to the Board of Directors of the Association Des Compagnies D’assurance Au Liban (ACAL), at its annual meeting held in April. Mr. Nasrallah, as other board members, will work together to achieve the aims of the Association, which include: building the profession from a technical standpoint; developing the rules and regulations to enhance the insurance industry; safeguarding the public interest and ensuring the proper representation of its members with authorities and third parties.

LCI is the only specialized credit insurance company in Lebanon.

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