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As global supply chain disruptions and geopolitical tensions continue to impact trade routes, boardroom discussions are also changing. Corporate insolvencies are yet to return to pre-pandemic rates in the UK and other major economies, and inflation remaining high. Meanwhile, businesses are starting to redefine success beyond just financial performance.

How will the future workforce navigate the evolving trade and credit landscape? Beyond shareholder value, how can large financial institutions, credit insurers, and multilaterals address their social responsibilities? How do we manage systemic risks while supporting the communities involved in global trade?

As part of our C-Suite Leadership Series, Deepesh Patel, Editorial Director at Trade Finance Global (TFG) spoke with Angela Duca, Global Specialty Head, Credit Specialties at Marsh, to help answer some of these and other pressing questions.

Navigating a poly-crisis and adapting to systemic risks

Right now, the world feels like it’s dealing with crises on multiple fronts. Some call this a “poly-crisis”—a term that captures the web of economic instability, political upheaval, and environmental challenges all happening at once. 

But while the word crisis might suggest nothing but trouble, there’s another way of looking at it.

Duca said, “With poly-crisis, there’s poly-opportunities.”

The credit specialties sector, in particular, has stepped up to meet these challenges head-on. Far from being deterred by the complexity, it has proven capable of managing these overlapping risks and finding opportunities for growth and resilience.

Credit specialties have become key players in supporting global trade amid these uncertainties. According to the World Bank, trade has been a significant catalyst for economic growth and poverty reduction, which highlights the importance of financial support in revitalising economies post-crisis.

Duca said, “I’ve seen the credit insurance market take on more sophisticated risks, provide solutions in more challenging places, and have a closer partnership with multilaterals.”

These collaborations have enabled credit providers to share risks and contribute to a more stable economic environment. 

Another example of this adaptability comes from new approaches like parametric insurance. Under this type of insurance, rather than waiting for damages to be calculated and processed, policy payouts are based on predefined triggers, such as rainfall exceeding a specific threshold or wind speeds hitting a certain mark. 

This solution allows for almost immediate payouts, which means that communities, businesses, and governments impacted by disasters can start their recovery efforts quickly.

Balancing profitability with social impact

While navigating a poly-crisis is crucial, the conversation around the purpose of financial institutions has also been evolving. Today, profitability alone is not the benchmark for success. Increasingly, businesses are judged by their social impact within their immediate sphere and in the wider community. 

Duca said, “Our firm defines our key stakeholders as clients, colleagues, communities, and our stakeholders. Our CEO is very passionate about ensuring that our initiatives create an impact for those four key stakeholders.”

This embodies the notion that credit specialties extend beyond providing insurance and mitigating risk to building meaningful connections with communities and ensuring that activities contribute to societal well-being.  One way this is done is through corporate social responsibility initiatives, which have increasingly become part of everyday business. 

Duca said, “It’s about creating a culture that values the human side of finance: the people and communities that lie behind the numbers.”

This balance between financial outcomes and social impact becomes especially critical during periods of crisis. When economies falter, conflict disrupts supply chains, and natural disasters strike, it is the responsibility of these institutions to remain steadfast—not to withdraw at the first sign of trouble. 

They need to innovate, find new ways to structure deals, and continue to support the communities they serve. This dual focus on social and economic value sets a benchmark for how financial institutions can truly contribute to broader societal goals.

Developing future leaders and building resilience

With so much in flux, the question arises: Who will lead us through these challenges? The industry is increasingly recognising the importance of developing future leaders who are skilled, resilient, and passionate about what they do. 

Duca said, “Leadership today is not just about knowing the business inside out; it’s about being adaptable, empathetic, and open to new ways of thinking.”

One of the most intriguing aspects of this evolving leadership model is the emphasis on collaboration and innovation. The World Economic Forum reports that the future of work will require a workforce that is adaptable and skilled in new technologies, emphasising the need for leaders who can foster such environments. The idea is that the best solutions often come not from individuals working in isolation but from teams working together across different areas of expertise. 

For instance, bringing together credit specialties, energy, and construction teams to create holistic solutions for clients allows financial institutions to think beyond their traditional boundaries and create the kind of leadership that we need for the decades ahead. 

Duca said, “I’m lucky that I’m probably interacting with the future CEO of Marsh, but I don’t know who it is at this point. One piece of advice I have for that person is don’t lose the passion for what we do and the value that we provide.”

Passion is hard to teach, but it can be cultivated. Employees who are inspired by their leaders—who see them excited about their work and genuinely engaged—are likelier to feel that same passion. 

This kind of culture builds resilience. When people feel connected to their work and inspired by their leaders, they are better equipped to handle challenges and adapt to change.

Role of credit specialties in supporting communities post-disaster

One of the most impactful roles that credit specialties can play is supporting communities that have faced conflicts or natural disasters. In times like these, financial tools need to provide a lifeline and deliver quick, effective relief to the affected regions so they can begin to rebuild. 

Credit specialties also work alongside public agencies and multilaterals to facilitate economic recovery in these challenging environments. Their role is to encourage broader investment by creating an environment where others feel confident enough to also invest. The United Nations reported that hunger numbers have remained persistently high for three consecutive years, emphasising the critical need for financial interventions that can address both economic and social challenges in these regions.

Duca said, “From an underwriting perspective, from a broker perspective, from an FI perspective, how can we not shy away from being in post-conflict [and] post-disaster [areas], take a little bit more risk?”

This approach is about creating jobs, supporting local economies, and ensuring communities have the resources to rebuild sustainably. It’s about being more than just a financial entity; it’s about being part of the fabric of these communities, helping them move forward after experiencing severe setbacks. As highlighted in a recent article, Africa is projected to experience a youthquake by 2050, with a rapidly growing population that will require innovative solutions to ensure economic stability and job creation. This highlights the importance of credit specialties in fostering sustainable development in these regions.

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Financial institutions are learning to juggle an array of systemic risks while focusing on the social impact of their activities. From adapting to crises with innovative solutions like parametric insurance to balancing profitability with meaningful contributions to society to nurturing passionate, resilient leaders—each element plays a crucial role in future-proofing the industry.

What stands out most in this journey is the shift in mindset: from a purely profit-driven approach to one that values social responsibility and community impact. 

As the line between crises and opportunities blurs, the institutions that understand the importance of adaptability, collaboration, and compassion will lead the way.