The volume of operations of KredEx Credit Insurance grew by EUR 44 million
In the first nine months of this year, AS KredEx Credit Insurance insured the risks of Estonian business operators in 65 countries, with the volume of insured companies’ invoices growing to EUR 223 million and increasing by EUR 44 million, year-on-year. In total, 100 Estonian companies concluded agreements to insure the default risks of their business partners.
“Several instances of insolvency have increased interest among business operators in insuring risks related to buyers. Exporting companies are more eager to use the insurance opportunity, as it is costly and time-consuming to constantly monitor the economic situation of one’s business partners on remote target markets. We see that the insurance is being used more among exporters in the food, timber and building materials sectors,” said Meelis Tambla, Chairman of the Management Board of KredEx Credit Insurance.
The major target countries for insurance were Finland, Sweden and Poland. The volume of operations grew the most in the first three quarters of the year in Sweden, Latvia and Lithuania.