Domenico Lup to lead growth developments in six ASEAN countries

HONG KONG, Nov. 15, 2022 /PRNewswire/ -- Allianz Trade is pleased to appoint Domenico Lup as CEO of Allianz Trade in ASEAN with effect from 1 December 2022. Mr Lup will be responsible for overseeing the trade credit insurer's growth developments in six ASEAN countries including Singapore, Malaysia, Thailand and Indonesia. Mr Lup will be based in Singapore and report to Regional CEO of Allianz Trade in Asia Pacific Paul Flanagan.

Prior to this appointment, Mr Lup was Commercial Director for Allianz Trade in Middle East, a role he held since 2018 and based in Dubai, where he oversaw the commercial portfolio for seven countries in the Middle East region. He joined Allianz Trade in 2013 as Marketing and Customer Services Director for Allianz Trade in Italy. Before joining Allianz Trade, Mr Lup had worked for Fiat Chrysler Automobiles N.V. Group and consulting firm Busacca & Associati. Mr Lup holds a bachelor degree in Economics and Business Administration from LUISS Guido Carli.

On his appointment, Mr Lup says, "I am honoured to be appointed CEO for the ASEAN hub. I am very grateful for the prolific and eventful years I had spent with the MMEA teams, first in the regional headquarters and then in the Middle East countries. Uncertainties and volatility will remain in 2023 but together with my new team, we will be able to accompany our customers and partners towards a sustainable and long-term growth."

Mr Flanagan comments on this senior appointment, "ASEAN is a leading and dynamic multi-product hub within Asia Pacific which obviously plays a key part in our growth strategy. Through his career, Domenico has gained multi-country experience and demonstrated success in developing commercial portfolios in diversified markets. I am confident that Domenico, together with the local management team, will be able to achieve great results in ASEAN."

We predict trade and credit risk today, so companies can have confidence in tomorrow

Allianz Trade is the global leader in trade credit insurance and a recognized specialist in the areas of surety, collections, structured trade credit and political risk. Our proprietary intelligence network analyses daily changes in +80 million corporates solvency. We give companies the confidence to trade by securing their payments. We compensate your company in the event of a bad debt, but more importantly, we help you avoid bad debt in the first place. Whenever we provide trade credit insurance or other finance solutions, our priority is predictive protection. But, when the unexpected arrives, our AA credit rating means we have the resources, backed by Allianz to provide compensation to maintain your business. Headquartered in Paris, Allianz Trade is present in 52 countries with 5,500 employees. In 2021, our consolidated turnover was EUR2.9 billion and insured global business transactions represented EUR931 billion in exposure. For more information, please visit allianz-trade.com

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements. Such deviations may arise due to, without limitation, (I) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (II) performance of financial markets (particularly market volatility, liquidity and credit events), (III) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (IV) mortality and morbidity levels and trends, (V) persistency levels, (VI) particularly in the banking business, the extent of credit defaults, (VII) interest rate levels, (VIII) currency exchange rates including the euro/US-dollar exchange rate, (IX) changes in laws and regulations, including tax regulations, (X) the impact of acquisitions, including related integration issues, and reorganization measures, and (XI) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.