Credendo

Credendo is a European credit insurance group headquartered in Brussels, Belgium, with a presence across the continent. Established in 1921, it stands as the world's second-oldest public credit insurer. (credendo.com ) The company's mission is to support trade relations by providing customized solutions in insurance, reinsurance, guarantees, bonding, and financing related to both domestic and international trade transactions or investments abroad. Credendo protects companies, banks, and insurance undertakings against credit and political risks, facilitating the financing of such transactions. (credendo.com ) Credendo's vision is to be the first-choice business partner for protecting against the risks of trade and investments in the real economy and to facilitate the financing of such transactions. (credendo.com ) The company's core values include customer intimacy, reliability, and respect. Customer satisfaction is central, with a focus on listening to clients, proposing bespoke solutions, and delivering first-class service. Credendo emphasizes respect for customers, staff, shareholders, society, and the environment, acting against discrimination and upholding high ethical standards. Reliability is ensured through best-in-class expertise, operational efficiency, and a long-term view on activities, aiming for sustainable financial results. (credendo.com ) Corporate sustainability is a significant focus for Credendo. The company conducts its business in a socially responsible and forward-looking manner, considering its impact on the environment, society, the economy, stakeholders, and employees. Credendo integrates respect for human rights, environmental sustainability, anti-corruption efforts, and commitment to the United Nations' Sustainable Development Goals (SDGs) into its corporate mission and values. This commitment is encapsulated in the tagline: 'We want to grow and improve in a sustainable way.' (credendo.com ) The governance structure of Credendo includes a Board of Directors and an Executive Committee. The Board comprises representatives from various governmental departments and regional governments, ensuring a broad oversight. The Executive Committee is led by Group CEO Dirk Terweduwe, who has been with the company since 1987 and assumed his current role in 2009. The governance framework is detailed in the Credendo Corporate Governance Charter, which outlines the organization's leadership and managerial structure, balancing control, risk management, and transparency. (credendo.com ) Credendo operates through various entities, including Credendo – Trade Credit Insurance, which specializes in highly customized underwriting for shorter-term credit risks in emerging and developing markets, primarily on open account terms. Established in 2004, this entity has branch offices in the United Kingdom, Netherlands, France, Germany, Italy, Czech Republic, and Poland, bringing services closer to markets, clients, and business. (credendo.com ) In 2022, Credendo faced challenges due to the Russian invasion of Ukraine, which negatively impacted claims volumes and led to a loss for the year, despite good underlying performance across most divisions. (credendo.com ) Overall, Credendo remains committed to supporting global trade by providing comprehensive risk coverage and facilitating financing solutions, all while adhering to principles of sustainability and ethical conduct.