Global credit insurer Coface announced today the opening of its first branch in New Zealand, after securing a licence from the Reserve Bank of New Zealand last week.

The business says the office will enable it to serve brokers and securitise trade for businesses of all sizes trading locally and in foreign markets.

Previously Coface served its New Zealand customers by issuing policies from its Australia branch, a practice that goes back more than 20 years.

“We are committed to providing top-class trade credit insurance services to our customers,” Group CEO Xavier Durand said. “In order to reach this objective, being as close as possible to our clients is key.

“This branch opening gives us the ability to provide our services directly to companies in New Zealand.”

He says Coface will intends to work closely with brokers to provide options for New Zealand businesses to trade and grow their markets both locally and abroad.