QBE Food and Drink Autumn Sector Update 2022
Authored by QBE Senior Underwriter (Trade Credit) Natalie Shearer-Coverly
Sector overview
As we move clear of pandemic led business disruption, a new set of challenges face the UK food and drink sector. The Russia-Ukraine conflict continues to impact the price of world food commodities, UK food inflation is at its highest level since records began and consumer spending power is reducing in the wake of a challenging economic backdrop. With many businesses in this sector carrying sizeable covid related debt levels attention now turns to their ability to refinance on suitable debt structures whilst managing supply chain pressures, a decline in customer spend, and
tighter overall margins.
About QBE
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.