Coface expands footprint in New Zealand

The trade credit insurer is opening a local branch in the country.

Global trade credit insurer Coface has announced that it has opened a branch in New Zealand after receiving approval from the Reserve Bank of New Zealand.

According to the World Bank, New Zealand’s exports value reached $50.5b in 2020. The firm plans to cash in on New Zealand’s growing trade credit insurance market.

As a trade credit insurer, Coface advises and protects companies facing the risk of financial losses, as a result of credit risks, as a result of protracted default, insolvency, or bankruptcy of their buyers. Coface also provides business information services based on its global database of 130 million corporations to help its clients make better business decisions.

“We are committed to providing top-class trade credit insurance services to our customers. 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. We will also work closely with brokers to provide options for New Zealand businesses to trade and grow their markets both locally and abroad.”, said Xavier Durand, Group CEO of Coface.

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