EnglishCoface will open a factoring company in Romania in the next two years, according to manager Cristian Ionescu quoted by Rompres. Coface in April introduced the commercial loan insurance, covering the risk that debtors may not be able to pay their installment on time. This type of insurance covers 85% of the insured value, whereas the premium ranges between 0.3 and 0.8%, depending on the turnover.
Coface Romania was established in 1996 as a receivables management company. At global level, Coface has a 25% share of the export insurance market and a market capitalization of 10 billion EUR. The company has over 83,000 customers in 93 countries. Coface Romania offers credit reports, debt recovery, collection tracking, marketing and risk consultancy.
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