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Coface strengthens its market position in the Adriatic region by acquiring SID – PKZ

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Coface announces today the acquisition of SID – PKZ, the market leader in credit insurance in Slovenia with a high market share. As Coface has acquired all SID – PKZ shares, the business will operate under the new brand name Coface PKZ. The acquisition supports Coface’s strategy of profitable growth in Central & Eastern Europe region.

Founded by SID Bank in 2005, SID – PKZ recorded EUR 14.3 m of gross written premium in 2018. The transaction will have a neutral impact on Coface’s solvency ratio.

With this strategic step, Coface strengthens its market position in the Adriatic region. Offering a broad range of services and a vast international network, Coface will enhance the support of Slovenian exporters thus adding value to its clients and contributing to the economic development of the country. Coface PKZ will be integrated into the Central and Eastern Europe region under the leadership of regional CEO Declan Daly.

Foto: Coface
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