Tailor-made cover to mitigate default and political risks for international trade and financing
Solunion, experts in credit insurance, will offer its clients the full range of Transactional Cover Unit (TCU) productsfrom Euler Hermes, its joint shareholder with MAPFRE. The tailor-made policies are designed to safeguard against default and political risks, including those arising from short, medium and long-term contract interruptions and issues with credit and bank financing.
"Since Solunion was established in 2013, we have focused on bringing the most sophisticated solutions for short-term trade credit risk coverage to the market. With the launch of transactional cover products, Solunion will enter the medium and long-term credit insurance market, adding political risk protection capacity," said Felipe Buhigas, Commercial and Marketing Corporate Director at Solunion. "Incorporating these strong products into our offering reflects our strategy of providing quick, simple and effective solutions to meet the changing needs of our customers."
With the increasing complexity of international trade and finance, unexpected changes in the type and level of associated risk can also occur more frequently, including unforeseen political risk. These risks can impact a wide range of financial institutions from investors to companies across the spectrum of international trade.
Transactional Cover solutions can protect a wide range of medium and large companies including multinationals, equipment manufacturers, long-term import and export companies, as well as banks and financial institutions and those involved in trade risk and international financing.
Solunion Seguros de Crédito offers credit insurance solutions and services for companies in Spain and Latin America. Established in 2013, present in Spain, Argentina, Chile, Colombia, Ecuador, Dominican Republic, Mexico, Panama, Peru and Uruguay, it is a joint venture owned equally by MAPFRE, a multinational insurance company present on the five continents, market leader in Spain and first multinational insurance group in Latin America, and by Euler Hermes, the global leader in trade credit insurance and a leader in bonding and collections. Solunion offers clients an international network of risk monitoring from which it analyzes the financial stability of more than 40 million companies. An extensive distribution network responds to the needs of companies of all sizes in a wide range of trade sectors. www.solunionseguros.com