Updated: Dec 28, 2020
This year’s unprecedented events led by the coronavirus pandemic caused global economic trends that were unpredictable by even expert economists. Industries across all sectors of the economy were impacted by the pandemic and forced to adapt in order to survive the worst economic downturn since the Great Recession in 2008. No industry was immune to the ramifications of the pandemic, including the trade credit insurance industry. Certain industries fared better than others while some even benefitted from the changes as many industries were able to quickly pivot their business strategies in order to thrive during this year’s economic crisis.
The trade-credit insurance industry started 2020 strong prior to the economic contraction caused by the coronavirus pandemic. In Q2 and Q3, there was an increased reliance on trade credit insurance and a simultaneous decrease in capacity with more restrictive terms making it difficult to gain coverage in specific sectors. Since the impacts of the pandemic on the economy have become more apparent, capacity is coming back and the industry is likely to see the increased need for trade credit insurance continue into the new year.
Trish McCarthy | Head of Client Services
Trish joined Impello in June after having relocated from Ohio to Boise, Idaho, with her husband Tom, on March 1st--days before the world shut down in response to the Coronavirus. She loves her new home and enjoys hiking the Boise foothills and is grateful to be making new friends even in the era of social-distancing. During the shutdown, Trish decided her family needed an addition and they adopted Ernie Banks, the best dog in the world.
Peter Frankl | Director
Having spent over 20 years in Singapore, Peter and his wife spent 2019 and 2020 acclimating to the cultural differences, home searching, and adjusting to all of the usual stuff most people take for granted. After months of searching, Peter and his wife finally found their piece of heaven in southern Oregon - not too far from their grandkids. Although, because of the pandemic, they have not been able to physically visit their family for quite some time, they are looking forward to 2021 bringing them all together again.
Alex McCombs | Market Executive
Alex joined Impello in October and lives in Oakland, California with his 11-year old daughter Stella, an aspiring visual artist, and their young rescue dog, Menchie. Their 2020 highlight was continuing the annual summer tradition of vacationing on the north shore of Lake Tahoe. Also, during the year, Alex developed a new hobby--golf, and enjoys playing new courses in the greater Bay Area. When conditions permit, he looks forward to being reunited with colleagues and friends in 2021.
Jeramie Maxwell | President
This year, 2020, has been a year of gratitude for me. I am grateful for our amazing team and for the opportunity that we have been given by our clients to help them grow their businesses. I look forward to seeing all of you again in 2021.
On a personal note, due to the pandemic, we have been able to spend more time together as a family and as many of you reading this can attest, my kids have become a regular part of my daily video calls. Juggling school schedules along with work schedules can be challenging (as many of you are well aware!), however, I have enjoyed the extra time we’ve been able to spend together as a family. We certainly miss our extended family and friends and look forward to spending time together again in 2021.
We are grateful for all of the good that this year brought and look forward to 2021--a new year filled with new opportunities.
About Impello Global
Impello Global is a trade finance advisory boutique and trade credit and political risk insurance brokerage, with offices in Seattle, San Francisco, Boise, and Portland. We specialize in trade credit and political risk insurance and provide advisory services to companies and lenders who are looking to expand their trade finance capabilities.
If you are a company or a lender trying to better understand trade credit insurance or EXIM Bank programs and looking for guidance about how these programs can help improve working capital financing, our team would be delighted to learn more about your business and discuss options available to you. Please visit our website at www.impelloglobal.com or contact us directly at firstname.lastname@example.org.