INTRODUCTION
Credsure was formed in 1965 as a private credit insurer in response to representations from commercial and industrial organisations who were venturing into new and unknown markets. Initially only short-term export business was written but in 1967 a domestic credit insurance scheme was introduced. This ran until 1977, when it was suspended because many business failures in the country clearly had underlying political causes. It was re-introduced in 1983, by this time medium and long term cover for capital goods exports had also been introduced.
As a private credit insurer, Credsure accepts both commercial and political risks for its own account and partially reinsures them with professional reinsurers. All policies are issued by Credsure in its own name and the Company is also active in the field of domestic bonds and guarantees required by the local construction industry.
