Coface adds two firms to credit insurance network
Global credit insurer Coface has boosted its credit insurer network by snapping up firms in Argentina and the Netherlands.
In Argentina, Coface has acquired Servicing, a receivables management firm of 50 employees handling trade in Argentina and South America.
Servicing will be renamed Coface Invoice Management America Latina. Coface has also launched a joint venture operation in Western Africa with a leading regional bank.
In the Netherlands it has picked up Trust Kredit Beheer, an Amsterdam-based receivables management firm employing 85 staff.
Coface acquired the business units despite scaling back available credit insurance cover in several countries due to a surge in unacceptable risk.
In Argentina, Coface has acquired Servicing, a receivables management firm of 50 employees handling trade in Argentina and South America.
Servicing will be renamed Coface Invoice Management America Latina. Coface has also launched a joint venture operation in Western Africa with a leading regional bank.
In the Netherlands it has picked up Trust Kredit Beheer, an Amsterdam-based receivables management firm employing 85 staff.
Coface acquired the business units despite scaling back available credit insurance cover in several countries due to a surge in unacceptable risk.