International credit insurance company Euler Hermes plans to target large- and medium-sized corporations in Mexico according to country manager Roger Alajarin.
Euler Hermes just received authorisation from local authorities, and is the second credit insurance company operating in the country. "We are going to approach the 200 multinational companies that operate in Mexico and also the medium-sized companies with sales between US$3m and US$30m so they can learn about the advantages of this product," he said.
According to Alajarin, credit insurance will become increasingly important as more businesses fail because of greater competition from domestic and international companies.
Euler Hermes claims that credit insurance can be two or three times less expensive then obtaining a letter of credit from a bank.
Source: BN Americas
