Page 16 - Turkinsurance Digital Magazine

14 at a glance

Demand for credit insurance grows in parallel with its growth of 42 percent in 2018

Demand for “Com- this way, they can minimize the risk of negative impacts on their
mercial Credit Insur- cash flow due to uncollectible receivables. Taner Işık, General
ance” has increased Manager of the Spanish company Atradius which is a company
considerably driven that offers commercial credit insurance products and collec-
by the changing com- tion services, comments as follows: “During the first quarter
mercial perspective of 2019, demand for commercial credit insurance has grown
in Turkey and around substantially. Companies that have the protection of commer-
the world, increase cial credit insurance can safely continue their commercial activ-
of risks in trade and ities at times when the sales decrease, access to funds become
the launch of state relatively harder, and liquidity problems intensify. Commercial
supported commer- credit insurance helps companies and businesses protect their
cial credit insurance. profitability in the long run. Therefore, we continue to work to-
Having grown by 42 wards ensuring that more and more companies and businesses
percent last year, in Turkey effectively use commercial credit insurance, while of-
commercial credit in- fering them customized products that fit their requirements by
surance will continue analyzing their domestic and global requirements in detail. In
to grow during 2019, a year that is expected to be a significant a sense, we provide commercial consultancy services for com-
one for global markets. panies wishing to gain customers in new markets. Commercial
credit insurance is not only an insurance product, but also a
Commercial credit insurance is a significant opportunity product of risk management and sales support. As a result of all
for SMEs these efforts and the clear understanding that the product has
several benefits for commercial activities, demand for commer-
State supported commercial credit insurance which was cial credit insurance has been growing increasingly with each
launched in the beginning of 2019 by the Ministry of Treasury passing day. As Atradius, we aim to increase awareness about
and Finance is an important application that will definitely re- risk management and grow safely together with our business
lieve the markets. Thanks to this support, businesses with an partners. Atradius Turkey has grown by 61 percent at the end of
annual indorsement lower than 25 million TL have gotten the April 2019, compared to the same period of previous year. Our
chance to insure their future receivables from domestic sales. In goal is to continue supporting Turkish economy.”

Euler Hermes Turkey meets with export-
ers in Kocaeli

Euler Hermes organized an informatory meeting about Cred-
it Insurance for exporters in cooperation with the Kocaeli
Chamber of Industry. The meeting evaluated the global devel-
opments in addition to the developments in Turkish economy,
which has entered in a balancing process; and experts shared
tips for safe trade with exporter companies. Ömer Gürcan
Köseoğlu, Assistant General Manager of Sales, Marketing
and Commercial Underwriting at Euler Hermes Turkey, un-
derlined the importance of credit insurance for global trade
and said: “As Turkey’s best credit insurance company, Euler
Hermes supports its customers for conducting commercial reach new customers in new markets. We consider 2019 as
activities both domestically and internationally. With our the right time to take the right risks, and we will keep help-
credit insurance product that insures the receivables, we esti- ing them maintain their international commercial activities
mate the risk and therefore create an opportunity to avoid it; much more safely by insuring their risks including the polit-
while making sure that your company continues with its ac- ical ones.”
tivities safely and uninterruptedly by covering for your losses
in case the risk is realized. Through the overseas offices of “We focus on increasing the awareness in the region about
Euler Hermes which can be found all around the world, we full scales services offered by Euler Hermes. On behalf of Eu-
carry out the legal and bureaucratic processes for our clients ler Hermes, I’d hereby like to thank the member companies of
no matter where the receiver is located, and we never leave the Chamber, and particularly Ayhan Zeytinoğlu, Chairman
them alone.”
of the Kocaeli Chamber of Industry who all support us in this
cause.” said Nazmi Ertuğral, General Manager of Ertuğral
“Turkey currently moves towards increasing the volume Sigorta, the authorized Euler Hermes agent in Kocaeli.
of its exports even further in 2019, and companies aim to