Allianz Trade has announced it will acquire a 50 per cent stake in Cosec, the Portuguese trade credit insurance provider, from Banco BPI, one of Portugal's largest banks. Allianz Trade already owns 50 per cent of Cosec and will own 100 percent of the company once the transaction closes.
Founded in 1969, Cosec (Companhia de Seguro de Créditos, SA) is the Portuguese market leader in commercial credit insurance. The company became a 50/50 joint venture between Allianz Trade and Banco BPI in 2007.
