A person with knowledge of the situation said QBE repeatedly informed the suppliers of Arrium, since renamed Liberty OneSteel, to provide full financial information on the wider GFG group and parent company, warning them that failure to do so would result to the withdrawal of cover on November 30. British insurance company the GFG Alliance has reduced trade credit insurance cover to some members of GFG . Insiders said major suppliers within the group were unaffected, while a spokesperson for GFG , a brand within the GFG Alliance , said they had been assured by QBE that cover had not been withdrawn, and a meeting had resulted in "very positive feedback". According to sources, QBE had repeatedly asked for full financial information on the GFG Alliance and, after it was supplied, the insurer's global credit committee said it was "unable to continue providing full support".
British insurance company the GFG Alliance has reduced trade credit insurance cover to some members of GFG . Insiders said major suppliers within the group were unaffected, while a spokesperson for GFG , a brand within the GFG Alliance , said they had been assured by QBE that cover had not been withdrawn, and a meeting had resulted in "very positive feedback". According to sources, QBE had repeatedly asked for full financial information on the GFG Alliance and, after it was supplied, the insurer's global credit committee said it was "unable to continue providing full support".