Crédito y Caución, founded in 1929, was the first company in Spain to provide credit insurance, the main system used by European companies to cover themselves against the risk of non-payment in credit sales to other companies.
Throughout its history, the Company has been the market leader in this type of insurance with a 60% market share. Some 45,000 Spanish companies with more than 1,300,000 clients around the world annually insure credit sales for a sum amounting to 200,000 million euros. This cover involves the analysis of each client, indemnity in the event of non-payment and international recovery processes. At the heart of every insurance contract lies a promise: whatever happens, within 6 months, an insured company receives 80% of the loss in its insured operations.
The most important contribution of credit insurance is its capacity for prevention; carefully analysing the risks associated with each company. This is possible thanks to the network: the market share is converted into the best information on the performance of payments of millions of companies, because each insured company, with constant communication on the performance of its clients, provides differential information in real time. From the nineties, the growing economic internationalisation prompted the concentration of credit insurance companies into global operations, capable of monitoring millions of transactions in all markets and preserving these network effects. Aware of this development, Crédito y Caución launched its internationalisation process, together with its shareholders in 2003. The merger with Grupo Atradius, completed in 2008, has represented one of the most important Spanish internationalisation insurance operations and, more importantly, has led to direct support in 42 countries, which covers almost all Spanish exports, and 52 million companies around the world.