- The Belgian public credit insurer ONDD (Office national du Ducroire | Nationale Delcrederedienst) is promoting its European dimension under a new name: Credendo Group – a group which is present across the European continent and firmly directed from Belgium to better meet the needs of companies exporting to the emerging markets.
- These emerging markets offer growth opportunities but are not without complex risks that need to be understood. Facilitating safe trade with emerging countries is the key role of Credendo Group.
- Thanks to its teams of experts, Credendo Group is able to demonstrate on a daily basis its in- depth knowledge of the local context in emerging countries and provide an accurate analysis of the risks underpinning the tailor-made solutions they offer.
- A new website illustrates and shares this expertise: www.credendogroup.com
The Belgian economy is one of the most open in the world: in 2012 exports of goods accounted for more than 347 billion euro, equivalent to 92% of GDP. During the crisis, exports continued to be a driver of economic activity. In a broader context, Europe needs to develop its exports to maintain its prosperity and, in a European perspective, exporting means trading with countries outside the European continent. It is clear that the potential for export growth now comes from increased transactions with emerging countries. And the latter are facing issues of economic and political instability that might inhibit the inclination of our companies to do business in these markets. Through a new visual identity made public today, Credendo Group is affirming its international dimension so as to better respond to the needs of companies that are focused on exports to emerging countries.
From this week, the ONDD Group – with Office national du Ducroire – Nationale Delcrederedienst as mother company - will be known as Credendo Group and will deploy its new identity throughout its various subsidiaries. The European group, which is firmly directed from Belgium, differentiates itself through its expert teams who are able to understand the figures on paper and to compare them with the reality on the ground. "This specialization in emerging markets is part of our DNA. Today this is an obvious advantage since this is where global growth is being generated," stressed Dirk Terweduwe, CEO of Credendo Group. "Credendo Group is committed to meeting the needs of clients seeking to step outside the traditional Eurozone. Through the detailed analyses made by our teams and their knowledge of the local context, Credendo Group is able to cover risks which, at first glance, would not be accepted. In this way Credendo Group can transform perceived uncertainties into real opportunities for clients in emerging markets,” Dirk Terweduwe added.
"By actively listening to clients, our experts go beyond the numbers presented in reports and the financial results on paper. Their analyses often show the existence of very real business opportunities, with growth potential. The critical information collected from the local business environment enables us to develop tailor-made solutions for each of our clients, companies, banks and investors," Dirk Terweduwe stressed.
A rapidly growing European group
Established in 1939, the Office national du Ducroire | Nationale Delcrederedienst is Belgium’s public credit insurer with a mission to promote Belgian exports and international economic relations in general. In recent years, Delcredere | Ducroire has undergone a radical transformation and above all a remarkable international expansion from a traditional export credit agency to an international player. Delcredere | Ducroire is now head of a European credit insurance group that is present all over the continent, active in all credit insurance segments and offering a range of products that offer coverage throughout the world.
In 2012, the group covered 40 billion euros in international business transactions – a doubling of volume in five years. The group issued premiums amounting to 380 million euro in 2012, twice the 165 million euros issued in 2007. In 2012, the group made a net profit of 186 million euros.
With our new visual and verbal identity, we want to further profile ourselves as an international group," stated Dirk Terweduwe, CEO of Credendo Group. "The real capital of the group is composed of 450 employees of which 300 work in Brussels. They excel in the analysis of complex local contexts," added Dirk Terweduwe.
In these times of intense political and commercial risks, Credendo Group wants to send a clear message: the growth potential in emerging markets is still an opportunity for companies.
Credendo Group is ready to assist and support them, confident in its in-depth understanding of the emerging markets.
The new brand architecture
With its subsidiaries and branch offices, Credendo Group is present in 13 European countries and is active in all segments of the credit insurance, offering a range of products that covers the risks around the globe.
Under the umbrella of Credendo Group, the different entities are grouped according to product line.
Insurance of medium- and long-term credit risks covering operations with a Belgian component remains the prerogative of the parent company, the historical public body Delcredere | Ducroire (formerly known as Office national du Ducroire | Nationale Delcrederedienst). The insurance of short-term risks is managed by three companies: Credimundi (formerly Ducroire | Delcredere SA.NV), with its headquarters in Belgium and branch offices in the United Kingdom, France, Germany and Italy, servicing mainly customers in the Western countries of the European Union; KUPEG is present in the Czech Republic and Slovakia for clients in Central and Eastern Europe; and INGO-ONDD in Moscow assists companies active in Russia and the Commonwealth of Independent States (CIS). Finally, the specialist credit insurers form the third division of the group: Garant, a single-risk insurer established in Austria and Switzerland, and TCRe, a specialist in excess of loss cover, based in Belgium, but also present in the Netherlands, Italy, Germany, the United Kingdom, the Grand Duchy of Luxembourg, Spain and France.
The new website www.credendogroup.com offers some new features such as a world map that shows country-by-country risk levels.