KUKE (Korporacja Ubezpieczen Kredytow Eksportowych), the Polish export credit insurance agency (ECA), has been observing increased interest in insurance of exports to the east since the beginning of the year.
After the first three quarters of 2002, the company increased gross written premiums by ZL22.3m, compared to an increase of ZL18.7m in 2001. Since the beginning of 2002, KUKE has insured contracts worth more than ZL1bn.
According to Marek Lyzwa, vice-chairman of KUKE, Polish exporters active on eastern markets are conscious of the fact that a successful exporter needs to provide not only high-quality and low-price products, but also attractive forms of payment, such as risky contracts with deferred payment.
Lyzwa states that the insuring of export credits is an effective method of limiting the risk of not receiving payment. Growing interest in KUKE's offer is as a result of increasing Polish exports.
Source: Parkiet
