COSEC - Companhia de Seguro de Créditos was founded dec. 29, 1969

Owned for 66.5% by Portuguese banks, 12% by Portuguese insurance companies, 4.5% by re-insurance and 17% by foreign Credit insurance companies, COSEC's cover extends to the Portuguese market and export markets. It has been operating for about 30 years, covering risks in the these markets and is entrusted with the management of Portuguese State guaranteed insurance. On behalf of the Portuguese State, Cosec guarantees exports and investment in risk countries.

COSEC monitors the commercial expansion of their clients.
Cosec's leading position in the credit insurance market is a result of the specialisation and experience acquired in thirty years of service, covering the non-payment of sales on credit of goods and services made in Portugal and overseas.
COSEC provides guarantees for major public and private works carried out in Portugal and overseas.
By means of bond insurance, Cosec guarantees these works in terms of quality, deadlines and compliance with other contractual obligations. Cosec guarantees also that fiscal obligations and the payment of customs duties are duly observed. Cosec has reached a leading position in the bond insurance business in Portugal. top
COSEC underpins the internationalisation of Portuguese companies.
The largest national projects undertaken in countries with a significant political risk factor, specifically in the Portuguese speaking countries, have been supported by our Cosec.
COSEC manages the Portuguese State Guarantee.
Cosec is entrusted with management of the Portuguese State Guarantee with regard to the cover of credit and bond risks and of Portuguese investment overseas, where there are hazards of political, monetary or natural causes.
Cosec provides the Portuguese government with technical support relating to export credit and overseas investment insurance, both at the domestic level and in the sphere of works carried out by the relevant international agencies.
COSEC takes part in organisations specialising in bond and credit insurance business.
At an international level, Cosec is member of specialist organisations and work in tandem with other credit insurers, by means of risk-sharing agreements and complementary technical services.
COSEC underwrites credit and bond business.
In 1997, Cosec underwrote more than 4,000 million euro in bond and credit insurance, with regard to business carried out by more than 60,000 national and 30,000 foreign companies. top
COSEC provides cover.
As administrators representing the Portuguese government in the cover of political risks involved in export, investment and bond insurance, Cosec has insured more than PTE 90,000 million over the last 3 years.
COSEC is founded on a business structure.
Cosec's activity is based on operational areas in the north and south of Portugal; at a domestic level, Cosec counts on the co-operation of specialist brokers and banks for the personalised promotion of their products.

Links ECA's:
CESCE COFACE COSEC DUCROIRE EKF ECGD EDC EKN ERG EXIM EXPORTERS FINNVERA GERLING-NCM GIEK HERMES HKECIC JBIC KEIC MIGA OeKB SACE

East-West Debt has made every effort to ensure the accuracy of this publication. Neither the company nor any contributor can accept any responsibility for -including but not limited to- errors, omissions, opinions or advice given. This publication is not a substitute for professional advice and all information is for guidance only.