About us

Who are we?

Credendo is a European credit insurance group that is present all over the continent and active in all segments of trade credit and political risk insurance, providing a range of products that cover risks worldwide.

Vision

We are the first-choice business partner to protect against the risks of trade and investments in the real economy and to facilitate the financing of such transactions.

Mission

Our mission is to support trade relations. We provide customised solutions of insurance, reinsurance, guarantees, bonding and financing related to domestic and international trade transactions or investments abroad. We protect companies, banks and insurance undertakings against credit and political risks, and facilitate the financing of such transactions.

Turning uncertainties into opportunities.

Values

As an insurance provider we know about risk in different forms. Due diligence comes as standard, but we go further. Here’s our approach.

Customer intimacy

Customer satisfaction is at the core of our values. We listen, we propose bespoke solutions, we are approachable, we explain our decisions and we deliver first-class service. Our people come up with smart solutions in response to specific business needs or complex risk environments.

You get bespoke solutions.

Respect

We show respect for our customers, our staff, our shareholders and all other stakeholders as well as for society and the environment. We act forcefully against any discrimination. We treat everyone fairly and honestly. We always try to do the right thing and apply high standards of ethical behaviour.

You can trust us.

Reliability

We aim for best-in-class expertise of our businesses and risks. We strive for operational efficiency that underpins customer intimacy. We have a long-term view on our activities – we look through the cycle and aim for sustainable financial results.

You can count on us.

 

History of Credendo Group

1921 The Belgian Ministry of Economic Affairs sets up a Delcredere Committee to guarantee Belgian export transactions.
1939 The Delcredere Committee is transformed into an autonomous public financial body with a state guarantee. It is renamed Nationale Delcrederedienst | Office national du ducroire, known today as Credendo Export Credit Agency.
1949 Credendo Export Credit Agency is authorised to cover imports and services.
1956 Insurance cover is extended to commercial risk.
1962 Credendo – Export Credit Agency is authorised to contribute to financing the operations it insures.
1964 It becomes possible to insure certain deals directly for the Belgian state.
1970 Coverage is extended to include political risks related to Belgian direct investments abroad.
1991 The business scope is expanded to cover international economic relations in a broader sense.
1996 Market-facing activity is launched, allowing Credendo – Export Credit Agency to cover risks that represent only a minor Belgian interest. The pricing is in line with market conditions.
2004

Credendo – Export Credit Agency sets up a private limited liability company, Credendo – Short-Term Non-EU Risks (formerly known as Credimundi), to guarantee the continuity of its services to European businesses. This company insures the political and commercial risks of current trade transactions.

Credendo – Export Credit Agency acquires a 26% stake in Credendo – Excess & Surety (formerly known as Trade Credit), a Belgian private credit insurance company that specialises in excess of loss and top up cover.

2005 Forfaiting products are launched. Credendo – Export Credit Agency buys exporters’ accounts receivable due by their foreign buyers and provides funding.
2006

Credendo – Export Credit Agency acquires a 50% stake in Austrian single-risk insurer Credendo - Single Risk (formerly known as Garant) along with leading Russian insurer Ingosstrakh.

Credendo – Export Credit Agency launches its financial guarantee products for bank loans.

Credendo – Short-Term Non-EU Risks opens a branch in the United Kingdom.

2007

Credendo – Export Credit Agency obtains its first-ever rating from Standard & Poor’s.

Credendo – Short-Term Non-EU Risks acquires a 33% stake in Credendo – Short-Term EU Risks (formerly known as KUPEG), the market leader in the short-term credit insurance in Czech Republic.

2008 Credendo – Short-Term Non-EU Risks opens a branch in France.
2009

Credendo – Export Credit Agency sets up Russian joint venture Credendo – Ingosstrakh Credit Insurance (formerly known as INGO-ONDD) with Ingosstrakh. Credendo – Ingosstrakh Credit Insurance specialises in covering credit risks related to domestic and international transactions on the Russian and CIS market.

Credendo – Short-Term Non-EU Risks increases its stake in Credendo – Short-Term EU Risks from 33% to 67%.

Credendo – Short-Term Non-EU Risks opens a branch in Germany.

2010

Credendo – Export Credit Agency increases its stake in Credendo – Ingosstrakh Credit Insurance to 67%.

Credendo – Export Credit Agency increases its stake in Credendo – Single Risk from 50 to 83%.

2011 Credendo – Single Risk obtains its first-ever rating from A.M. Best.
2012

Credendo – Export Credit Agency increases its stake in Credendo – Excess & Surety from 26% to 55%.

Credendo – Single Risk obtains its first-ever rating from Fitch.

2013

Credendo – Export Credit Agency increases its stake in Credendo – Single Risk from 83 to 96%.

Credendo – Short-Term Non-EU Risks opens a branch in Italy.

Consolidation continues as Credendo Group, more powerfully articulating the shared values, approach and strength of its companies.

2015

Credendo – Export Credit Agency becomes sole shareholder in Credendo – Excess & Surety.

Credendo – Short-Term EU Risks opens a branch in Poland.

2016 Credendo – Export Credit Agency becomes sole shareholder in Credendo – Short-Term EU Risks.
2017

New step in the group consolidation: each entity integrates Credendo in its name.

Governance

Credendo consists of the Credendo – Export Credit Agency and its subsidiaries. Its corporate governance structure is made up of following bodies:

Board of Directors

Vincent REUTER

Chairman(1)

Michel DELBAERE

Vice-Chairman(1)

Ludivine HALBRECQ

Member, representative of the Minister of Finance

Pieter-Jan VAN STEENKISTE

Substitute member

Thierry DENUIT

Member, representative of the Minister for Foreign Affairs

Xavier DE CUYPER

Substitute member

Henk MAHIEU

Member, representative of the Minister for Economy

Ivan VAN den BERGH

Substitute member

Els HAELTERMAN

Member, representative of the Minister for Development Cooperation

Yves DRICOT

Substitute member

Claire TILLEKAERTS

Member, representative of the Flemish regional government

Thomas FIERS

Substitute member

Georges STIENLET

Member, representative of the Flemish regional government

Annemarie VAN de WALLE

Substitute member

Jean-Jacques WESTHOF

Member, representative of the Walloon regional government

Jean-Jacques GABRIEL

Substitute member

Pascale DELCOMMINETTE

Member, representative of the Walloon regional government

Francis MULLERS

Substitute member

Katrien VAN KRIEKINGE

Member, representative of the Government of the Brussels-Capital Region

Frederic CONVENT

Substitute member

Frédéric LONCOUR

Member, representative of the Government of the Brussels-Capital Region

Christopher KASHALE ILUNGA

Substitute member

(1) Resigning

 

Executive Committee

Dirk TERWEDUWE

Chief Executive Officer and Chairman of the Executive Committee

Frank VANWINGH

Deputy Chief Executive Officer and Vice-Chairman of the Executive Committee

Nabil JIJAKLI

Deputy Chief Executive Officer and Member of the Executive Committee

Dirk Terweduwe, Group CEO and Chairman of the Group Coordination Committee

- Born in 1961 in Aarschot, Belgium
- He holds a Licence degree (Master) in Economics and a Master of Arts (Advanced Master) in Economics from the University of Leuven (Belgium).
- After his studies, he worked as a research and teaching assistant at the University of Leuven for three years. In 1987 he joined Credendo – Export Credit Agency and in 1989 he was nominated Chief economist and Head of the country risk department. In 2004 he was appointed Deputy CEO of Credendo – Export Credit Agency and of Credendo – Short-Term Non-EU Risks. At the end of 2009 he took up his current position as CEO of Credendo – Export Credit Agency and Group CEO of Credendo.  ¬From 2010 to 2013, he was also the CEO of Credendo – Short-Term Non-EU Risks.
- He is Chairman of the Supervisory Board of Credendo – Short-Term EU Risks and of Credendo – Single Risk. He is also Chairman of the Board of Directors of Credendo – Short-Term Non-EU Risks, of Credendo – Ingosstrakh Credit Insurance and of Credendo – Excess & Surety.
- Since 1996 he is also the Chairman of the Group of Country Risk Experts within the framework of the OECD Arrangement on Officially Supported Export Credits.

Frank VANWINGH, Group Deputy CEO and Vice-Chairman of the Group Coordination Committee

- Born in 1962 in Hasselt, Belgium
- He holds a Master’s degree in Law from the University of Leuven (Belgium) and a DESS in European Law from the University of Nancy (France).
- He started his career at Credendo – Export Credit Agency in 1989 as a Legal Counsel and Claims Manager. He was then appointed Deputy Head of the Department Claims & Legal Advice and later became Head of the departments Strategy, Legal and Risk Management. He is now Deputy Chief Executive Officer of Credendo and of Credendo – Export Credit Agency. He is also the Chief Operating Officer.
- He is a member of the Supervisory Board of Credendo – Single Risk and of Credendo – Short-Term EU Risks. He is also a member of the Board of Directors of Credendo – Ingosstrakh Credit Insurance and Credendo – Excess & Surety.

Nabil JIJAKLI, Group Deputy CEO and spokesperson of the Group

- Born in 1964 in Damascus, Syria
- He holds a Master’s degree of Political Sciences and of International Relations and completed a Postgraduate Program in International Politics at the ULB in Brussels.
- He is Deputy Chief Executive Officer of Credendo and of Credendo – Export Credit Agency. Before joining Credendo, he worked at the National Bank of Belgium (Belgian central bank) for 21 years. His last position there was Secretary of the Financial Stability Committee. He was also responsible for the coordination of the euro introduction in Belgium and worked as an expert at the European Commission for three years.
- He is a member of the Board of Directors of Credendo – Short-Term Non-EU Risks and of Credendo – Excess & Surety and a member of the Supervisory Board of Credendo – Single Risk.

Audit Committe

Ludivine HALBRECQ

Chairperson

Thierry DENUIT

Member

Henk MAHIEU

Member

Group Coordination Committee

Dirk TERWEDUWE

Group CEO and Chairman of the Group Coordination Committee

Frank VANWINGH

Group Deputy CEO and Vice-Chairman of the Group Coordination Committee

Nabil JIJAKLI

Group Deputy CEO and spokesperson of the Group

Paul BALTHASART

Group Chief Reinsurance Officer

Thibaut DE HAENE

Group Chief Legal Officer

Marina HAUTMAN

Group Chief Human Resources Officer

Ronny MATTON

Group Chief Financial Officer

Hans SLOCK

Group Chief Risk Officer

Lode VERMEERSCH

Group Chief Information Officer

Alexey BEZDENEZHNYKH

General Manager Credendo – Ingosstrakh Credit Insurance

Michael FRANK

General Manager Credendo – Single Risk

Eckhard HORST

General Manager Credendo – Excess & Surety

Stefaan VAN BOXSTAEL

General Manager Credendo – Short Term Non EU Risks & Chairman of the Management Board of Credendo – Short-Term EU Risks

Paul BALTHASART, Group Chief Reinsurance Officer

- Born in 1958 in Liège, Belgium
- He holds a Master’s degree in Business Administration from the University of Liège.
- He joined Credendo – Short Term Non-EU Risks in 2007 to develop a portfolio of inward reinsurance, after 25 years and several positions of senior underwriter or underwriting manager at Kemper Re (now Sirius), St Paul Re and Everest Re. He took over the responsibility for ceded business of Credendo – Short-Term Non-EU Risks and Credendo – Export Credit Agency since 2010, to recently become responsible for all of Credendo’s reinsurance.

Thibaut DE HAENE, Group Chief Legal Officer

- He holds a law degree from the University of Louvain-la-Neuve and graduated in 1999 from Georgetown University Law Center (Washington D.C.) where his LL.M. program focussed on international trade law.
- He started his career as a lawyer at Baker & McKenzie in Brussels. He joined Credendo – Export Credit Agency in 2003 as a Legal Counsel and held several positions within the legal department before becoming Group Chief Legal Officer in 2014.

Marina HAUTMAN, Group Chief Human Resources Officer

- Born in 1962 in Anderlecht, Belgium
- She holds a Master’s degree in Law and followed different courses of Human Resources Management at EHSAL & Vlerick Business School, and of Advanced General Management at HEC (Paris).
- She joined Credendo – Export Credit Agency in 2015 as Group Chief Human Resources Officer. She started her career as a Counsel and has more than 25 years of experience in Human Resources.

Ronny MATTON, Group Chief Financial Officer

- Born in 1961 in Varsenare, Belgium
- He holds a Master’s degree in Applied Economic Sciences.
- He joined New Holland Logistics in 1993 as a Financial Controller. He assumed several positions in the group in Italy, France and Holland. From 2003 till 2010, he worked at Fiat UK as a Managing Director, combining this position with the position of Non-Executive Board Member of Maserati GB as from 2006. He joined Credendo – Export Credit Agency in 2011 and is now the Group Chief Financial Officer.
- He is a member of the Supervisory Board of Credendo – Short-Term EU Risks and of Credendo – Single Risk. He is also a member of the Board of Directors of Credendo – Ingosstrakh Credit Insurance and of Credendo – Excess & Surety.

Hans SLOCK, Group Chief Risk Officer

- Born in 1967 in Ghent, Belgium
- He holds a Master of Science in Economics and a Master of Science in Development from the University of Ghent.
- He joined Credendo – Export Credit Agency in 1992. He started as a Country Risk Analyst and then became Head of the Cover Policy department in 2004. He assumed the position of Coordinator for Risk Management and Cover Policy from 2004 to 2010. At present, he is Head of the Risk Management department and Group Chief Risk Officer.

Lode VERMEERSCH, Group Chief Information Officer

- Born in 1964 in Ghent, Belgium
- He holds a PhD degree in Applied Sciences.
- He is currently the Group Chief Information Officer of Credendo. Before joining the company, he worked abroad mainly in banking and alike, in retail banking in the Czech Republic, as chief investment officer in asset management in Shanghai, and as a member of the Board of Directors in a London investment bank.

 

Alexey BEZDENEZHNYKH, General Manager Credendo – Ingosstrakh Credit Insurance

- He holds a Master’s degree in Finance and Credit and completed his PhD in Finance at the Russian Plekhanov Academy of Economics. Afterwards he obtained a degree in Law from the Lomonosov Moscow State University.  
- From 2001 to 2009 he worked within Ingosstrakh’s Credit Insurance department and was involved in the credit insurance business, namely in portfolio development, underwriting, reinsurance and claims handling. Since 2009 Alexey was part of the top management in the newly created joint venture, Credendo – Ingosstrakh Credit Insurance LLC. In 2011 he accepted a new challenge by joining the recently created team of Russian ECA EXIAR. There, he was responsible for building the ECA's reinsurance structure and for claims handling. Beside that, he focused on business development, and in particular on supporting the short-term business. In 2015 he was appointed as new General Manager of Credendo – Ingosstrakh Credit Insurance LLC.

Michael FRANK, General Manager Credendo – Single Risk

- Born in 1960 in Vienna, Austria
- He holds a Master’s degree in Law from the University of Vienna.
- He joined the Management Board of Credendo – Single Risk in January 2013 after 25 years in banking during which he held several management positions, mainly in Trade Finance and Risk Management. Since 2015, he is Chairman of the Management Board of Credendo – Single Risk.

 

Eckhard HORST, General Manager Credendo – Excess & Surety

- Born in 1966 in Bingen am Rhein, Germany
- He holds a Master’s degree in Economics from the Johann Wolfgang Goethe University, Frankfurt am Main.
- Directly after university, he joined Allgemeine Kredit AG (today Coface Germany). Prior to becoming Chairman of the Executive Committee of Credendo – Excess & Surety in 2012, he worked at Euler Hermes for 14 years. He was CEO of Euler Hermes Poland and later Head of Collections in Paris (Group function EH).
- He is a member of the Board of Directors of Credendo – Excess & Surety.

Stefaan VAN BOXSTAEL, General Manager Credendo – Short-Term Non-EU Risks & Chairman of the Management Board of Credendo – Short-Term EU Risks

- Born in 1971 in Aalst, Belgium
- He holds a Master’s degree of Applied Economic Sciences from the University of Ghent and a Master’s of Financial Business Management from the VLEKHO Business School.
- He started his career as a Deputy Inspector at the Ministry of Finance. Afterwards, he worked as an Assistant/Research Associate at Ghent University and as an Auditor for Ernst & Young. He joined Credendo – Export Credit Agency in 1997 as an Underwriter. He held several positions in the Underwriting & Account Management department, from Senior Underwriter to Deputy Head. In 2010, he joined Credendo – Short-Term Non-EU Risks as Head of the Underwriting & Credit Information department. He has been General Manager since 2014.
- He is a member of the Board of Directors of Credendo – Short-Term Non-EU Risks and of Credendo – Ingosstrakh Credit Insurance. 

Corporate Social Responsibility

Corporate sustainability is very important for Credendo. We conduct our business in a manner that is socially responsible and forward-looking, taking into consideration our impact on the environment, on society, on the economy, on our stakeholders and on our people. We pay attention both to the impact of our own activity (direct impact) and to the impact of the transactions we support (indirect impact), and these considerations are also reflected in our governance. We go further than the legally required obligations to act sustainably as a corporation.

Credendo exercises its activities in a financially sustainable way. For Credendo – Export Credit Agency, working under the guarantee of the Belgian State, the premiums collected from its insured companies shall be risk-based and shall not be inadequate to cover long-term operating costs and losses. This commitment is in conformity with the OECD Arrangement on Officially Supported Export Credits (see the OECD website), integrated in the EU Council Directive 98/29/EC.  Credendo – Export Credit Agency does not receive credits from the Belgian State budget.  The Credendo subsidiaries are acting as private entities under the supervision of the insurance supervision regulators.

Credendo promotes equal opportunities, diversity, non-discrimination and gender equality in connection with recruitment and employment. Credendo takes care of its employees by promoting healthy lifestyles both at work and at home. Our health and well-being strategy encompasses raising awareness among employees of their own health status and encouraging them to adopt healthy behaviours.

Credendo continuously strives to provide its services with full due diligence and professionalism, with respect for honesty and business ethics, and compliance with any laws, rules, regulations and best practices pertaining to our sector. All Credendo entities share the same values of Customer Intimacy, Reliability and Respect.

These core ethical principles are enshrined in our Group Integrity policy, which contains a uniform set of rules that all Credendo employees and collaborators should adhere to, both internally and externally. The principles are consistent with the internal standards and values of Credendo, without prejudice to local legislation and/or prudential regulations. Our Group Code of Conduct expands on these integrity principles in practical guidelines for our staff members to assist in their day-to-day activities.

Credendo strives to conduct its business in a responsible and sustainable way, and promotes responsible and sustainable business practices related to the environment, human rights, combating corruption and promoting sustainable lending to lower income countries.

Credendo has developed due diligence procedures, supported by the necessary policies and internal control systems, to identify, prevent, mitigate and account for how it addresses actual and potential adverse impacts on its operations and business relationships.

Credendo encourages its counterparties to implement the OECD “Guidelines for Multinational Enterprises”, a set of recommendations which can help companies to avoid and address adverse impacts in areas such as employment and industrial relations, human rights, the environment, information disclosure, combating bribery, consumer interests, science and technology, competition, and taxation.

While striving for economic prosperity and social progress, Credendo also considers the effects that businesses are having on the environment and urges companies to take into account the local populations.

Credendo will only take an insurance application into consideration if:

  • the application is compliant with applicable national and international sanction regulations;
  • the applicant conforms to the environmental and social national legislation;
  • the project and transactions are compliant with local laws and regulations;
  • Credendo receives all information requested to assess the environmental and social risks and impacts;
  • Credendo considers that the environmental and social impacts are acceptable.

Credendo ensures that the indebtedness of poor countries under the HIPC initiative (Highly Indebted Poor Countries) does not increase further by only accepting projects for such countries if they constitute a priority for their economic development. This specific commitment is in line with the OECD Recommendation on Sustainable Lending Practices.

Credendo will not accept support or insurance cover for any transaction if it concludes that bribery was involved. Credendo encourages its counterparties to implement, develop, apply and document appropriate control systems that prevent and detect bribery, as well as compliance with all relevant laws and regulations prohibiting bribery in their own home country or jurisdiction, and in the countries or jurisdictions where they are conducting business. If there is any credible allegation or evidence for acts of corruption in the award or execution of a contract, Credendo will report such information to the judicial authorities.

Discover more about Credendo – Export Credit Agency's corporate responsibility at this link.

Key figures

 

In million EUR

2018

2017

2016

Value of transactions insured during the financial year (1)

86,722.4

84,955.4

79,782.2

Total potential exposure

59,345

58,916.3

57,125.5

Insurance premium revenue (1)

329.7

342.2

370.4

Insurance claims and loss adjustment expenses (1)

158.3

153.7

391.3

Total profit/(loss)

-32.1

185.9

20.5

Total comprehensive income

-36.7

187.0

22.0

Total equity

2,531.1

2,568.2

2,391.5

Staff

520

499

496

Ratios (in %)

 

 

 

Net loss ratio (2)

49.4%

24.6%

112.48%

Net cost ratio (3)

34.3%

29.4%

28.81%

(1) before cession to reinsurers
(2) net insurance claims and loss adjustment expenses / net insurance premium revenue
(3) (operating expenses, excluding operational foreign exchanges, minus other operating income) / net insurance premium revenue

Annual Reports

Credendo publishes its annual report 2018 and innovates for the benefit of its customers

  • In spite of increasing trade tensions, the country-risk climate improved and there were significantly more upgrades than downgrades
  • The value of insured transactions rose by 2% to €87 billion
  • Sharp declines on the financial markets at the end of 2018 saw the company ultimately post a net loss of €32 million, in spite of a technical profit from operating activities of €38 million
  • In 2018 Credendo expressed its spirit of innovation by launching the Credendo Booster automatic bonding portal in Germany and the AREA42 innovation hub

Country risks: significantly more upgrades than downgrade

2018 will be remembered as a year in which the USA started a trade war. Sustained geopolitical tensions remained a key factor affecting political risks in various regions across the globe. While economic growth was maintained, it was less evenly distributed. Financial conditions also deteriorated, hitting Turkey and Argentina particularly hard.

19 upgrades were issued for short-term political risk, compared with 11 downgrades. Most of the changes were in Latin America, which saw 4 upgrades and 4 downgrades, while the CIS (Commonwealth of Independent States) region showed the strongest positive development with 5 upgrades. The worst affected countries were Nicaragua, Argentina and Iran, each of which was downgraded two notches. Nicaragua stands on the brink of a civil war, while Argentina (alongside Turkey) was the main victim of a crisis of confidence in emerging markets. Iran suffered from the negative consequences of the US withdrawal from the nuclear deal, as well as the reintroduction of sanctions against the country.

For medium-term political risk there were 7 upgrades compared with 3 downgrades.
Besides Iran and Argentina, Zambia was also downgraded as a result of the drop in copper prices and an unorthodox policy that plunged the country into a debt crisis.

Credendo’s results

In 2018 Credendo managed to post an operating profit and a slight increase in written premiums in a difficult market environment. “In spite of unfavourable currency fluctuations that weighed heavily on compensation paid, Credendo achieved a technical result of €38 million from its operating activities, although this was not enough to compensate for the poorest performance seen on the financial markets since the global financial crisis,” explains Dirk Terweduwe, Chief Executive Officer. The 18% growth at Credendo – Excess & Surety was an encouraging development and demonstrates that surety insurance will become an important market for Credendo in the future. “Meanwhile, short-term whole turnover credit insurance managed to achieve stable performance in a market on which premium income continues to shrink,” Terweduwe continues.

Key figures for 2018

The value of insured transactions rose from €85 billion to €87 billion. Credendo collected total insurance premiums with a value of €330 million.

A profit from operating activities of €38 million was generated, although the poor last quarter on the financial markets impacted on the company’s results and saw it post a loss of €32 million.

Consolidated equity stands at €2.53 billion and Credendo has no debt. Its parent company, Credendo – Export Credit Agency, enjoys an AA rating from S&P Global.

The geographic spread of risks between the various continents is as follows: European Union: 32%; Asia: 29%; Africa: 16%; Central and South America: 11%; other European countries: 8%; North America: 4%; Oceania: 1%.

Credendo is firmly committed to innovation

Credendo is moving with the times and in 2018 introduced two major initiatives in the areas of innovation and digitisation to improve the service offered to its customers.

Credendo Booster

In April 2018 Credendo – Excess & Surety launched the Credendo Booster in Germany. This portal can be accessed at credendo-booster.com and is a new, automatic distribution platform for bonding that brings speed and efficiency to the process. Brokers and other partners, such as banks, can enter their customers’ data into the system and quickly obtain a bonding facility. The decision is taken immediately for a credit line up to €2.5 million. The customer then enters its data into the system itself for each individual bond that has to be issued and receives the necessary documents directly. The Credendo Booster was also introduced in Italy at the beginning of 2019, with Belgium, Poland and the Netherlands set to follow later on.
 
AREA42

Credendo is launching an innovation strategy, based on the firm conviction that it needs to act today to stay on the right track as it enters the uncertain world of tomorrow. Against this background, Credendo has created the AREA42 innovation hub. A new era in credit insurance is dawning – one in which the use of IT platforms, big data, artificial intelligence, blockchain and other new applications will be very much on the radar when it comes to innovation. These trends create threats, but also present opportunities for Credendo, its customers and its partners, such as brokers. The intention with AREA42 is to develop an ecosystem of innovative partners around Credendo. Research is already under way into new concepts that could prove to be future growth drivers over the long term.

Documentation

Annual Report, 2018
Download
Annual Report, 2017
Download
Corporate Fact Sheet (2017)
Download
Corporate Brochure
Download
Annual Report, 2016
Download
Annual Report, 2015
Download
Annual report, 2014
Download
Annual report, 2013
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