Stronger exports in Argentina have boosted the demand for trade insurance, which is likely to grow between 20% and 30% in the second half of 2003, according to the local financial newspaper, El Cronista.
Argentine exports reached US$8.89bn in the first quarter this year, up 13% compared to 1Q02.
Local export credit insurer la Compania Argentina de Seguros de Credito boosted its credit insurance premiums between 20% and 30% during the last 12 months and expects premiums to continue to grow, said deputy general manager Juan Carlos Maniuch.
Argentina's largest export credit insurer Coface is also upbeat on the future although its number of policies have dropped 10%, compared to last year, said deputy general manager Gonzalo de la Carcova. Coface dominates the local export credit insurance market with a 92% market share, according to the Cronista report
