Euler Hermes, the French credit insurance company, confirmed on Friday that it has increased its stake in the Portuguese credit insurer Cosec to 41 per cent by buying 16.7 per cent of its capital from the Portuguese bank BPI.
The French company attributes its investment to the growing importance of the credit insurance market in Portugal, where businesses are demanding an ever-greater level of export cover. Euler Hermes is part of the Franco-German insurance group AGF-Allianz.
Source: La Tribune
