industry insurance founded 1921 delcredere committee 1939 nationale delcrederedienst office national du ducroire ondd headquarters brussels belgium key people dirk terweduwe ceo frank vanwingh deputy ceo nabil jijakli deputy ceo products insurance of import prefinancing domestic trade credit insurance for projects of exporting companies foreign direct investment insurance insurance of contract guarantees bonds financial guarantees direct financing for limited amounts as well as credit surety and political risk reinsurance number of employees 160 delcredere ducroire 423 credendo group subsidiaries credimundi belgium france united kingdom germany italy kupeg czech republic and slovakia garant ag austria switzerland ingo ondd russia trade credit belgium united kingdom france germany italy grand duchy of luxemburg netherlands spain website http www.credendogroup.com delcredere ducroire is the official belgian export credit agency . backed by the belgian state . its mission is to promote international trade relations providing companies and banks medium term and long term trade credit insurance cover against political and commercial risks worldwide . the transactions insured mainly relate to capital goods and industrial projects as well as contracted works and services . delcredere ducroire heads the credendo group a group active in all segments of the credit insurance business offering a range of products that covers the risks around the globe . contents 1 history and name 2 operations 3 the credendo group 4 external links 4.1 subsidiaries 5 references history and name edit in 1921 the belgian ministry of economic affairs sets up a delcredere committee to promote belgian exports . the delcredere committee offers the belgian exporters guarantees and coverage against non payment of trade receivables for political reasons when they export to remote and risky markets . in 1939 the delcredere committee is transformed into an autonomous public financial body with a state guarantee . as is customary in belgium the new public body is assigned a french and dutch name office national du ducroire nationale delcrederedienst delcredere ducroire for short . delcredere ducroire has a 27 billion euro insurance capacity . itas given its first ever rating by standard & poor s in 2007 receiving the second best long term rating aa and the best short term rating a 1 . 1 operations edit in addition to traditional export credit delcredere ducroire s offer includes insurance of import prefinancing domestic trade credit insurance for projects of exporting companies foreign direct investment insurance insurance of contract guarantees bonds financial guarantees direct financing for limited amounts as well as credit surety and political risk reinsurance . . to comply with eu competition rules delcredere ducroire along with other export credit agencies needs to make a clear distinction between marketable and non marketable risks when providing short term risk coveragee . this leads to the creation of a private limited liability company credimundi . credimundi has its headquarters in brussels and branch offices in london paris wiesbaden and milan and a subsidiary in prague kupeg which in turn has a branch office in bratislava . the credendo group edit by setting up its private limited liability company credimundi in 2004 the mother company delcredere ducroire starts building up a group of trade credit insurance . the same year delcredere ducroire acquires a stake in trade credit a belgian private credit insurance company that specialises in excess of loss and top up cover . in 2006 delcredere ducroire takes the same step with austrian single risk insurer garant thereby giving the group its international dimension . in 2007 subsidiary credimundi acquires a stake in czech credit insurer kupeg a subsidiary of egap . in 2009 credimundi becomes majority shareholder . the same year delcredere ducroire sets up russian joint venture ingo ondd with ingosstrakh . the company s headquarters are in moscow . in 2013 the company is rebranded under the name credendo group thereby emphasizing the internationalisation and extension of product lines common to the group s different entities including delcredere ducroire . external links edit official delcredere ducroire website subsidiaries edit credimundi garant ingo ondd trade credit kupeg references edit 1 retrieved from https en.wikipedia.org w index.php title belgian export credit agency & oldid 732859405 categories belgian federal departments and agenciesexport credit agencies navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages fran aisnederlands edit links this page was last modified on 3 august 2016 at 18 38 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view