Belgian Export Credit Agency Delcredere | Ducroire has become the sole shareholder of KUPEG Credit Insurance
The remaining 34% of shares have been purchased by the majority shareholder of KUPEG Credit Insurance, Belgian credit insurer Credimundi, from state Export Credit Agency EGAP. On 12 December, the shares were transferred to Credimundi’s parent company, Belgian Export Credit Agency Delcredere | Ducroire, which is now the sole shareholder of KUPEG Credit Insurance.
“This change in the shareholder structure is another step towards even closer integration of KUPEG within Credendo Group, which is the fourth largest European group of credit insurers,” says Michal Veselý, CEO of KUPEG Credit Insurance. “The purchase of the remaining shares by a leading company in the group underlines KUPEG’s strategic importance and will give our clients easier access to all of the tailor-made solutions offered by companies across the group,” adds Dirk Terweduwe, Credendo Group CEO.
In January, the whole group will undergo another significant change. Until now, each individual company in the group has had a different name. From January 2017, however, all the different legal entities will share one name: Credendo. A single name and a unified visual identity will help achieve greater visibility for the group and make services more accessible for clients within Europe.