Exporters' demand for sales credit insurance to Russia, China, Mexico and Romania soared in the first half of 2004. Israeli Credit Insurance Co. (ICIC) managing director David Milgrom said the rise in demand reflected the surge in exports to these countries, as well as growing awareness of credit insurance as a way to expand sales in various markets.
Migrom said ICIC's reinsurers, headed by Swiss Re, had approved increased credit lines for various countries. He said, “ICIC closely monitors developments in Russia's banking system and its possible consequences on the Russian market. However, at the moment, there has been no change in the credit insurance policies toward that country.”
