Risk portfolio of KredEx Credit Insurance grows to 196 million euros
Last year, AS KredEx Credit Insurance insured the risks of Estonian business operators in 64 countries, with the value of invoices insured by companies up more than 25% year on year.
The risk portfolio of KredEx Credit Insurance grew to 196 million euros by the end of last year, with approximately 100 Estonian companies concluding agreements to insure the default risks of their business partners.
“Economic uncertainty has increased business operators’ interest in insuring risks related to buyers. Insurance is being used more by exporters in the food, timber and building materials sectors,” said Meelis Tambla, Chairman of the Management Board at KredEx Credit Insurance.
The major target countries for insurance were Finland, Sweden and Poland. Year on year, business volumes grew most in the Netherlands, Norway and Belarus.