“The impact of the pandemic is visible in all areas of our operations. However, quick decisions have had a positive impact on the situation in our company,” says Witalis Korecki, General Manager at UMC Poland, which used the KUKE GAP EX insurance.
Bank Gospodarstwa Krajowego confirms documentary letters of credit opened in ruble. These transactions can now be covered by KUKE. Famur, a producer of mining equipment and machinery, was the first company to take advantage of the new solution.
BGK has granted a long-term loan to the Ukrainian investor Nikolsky LLC to finance the construction of a modern shopping centre in Kharkiv. The general contractor will be the Polish construction company Unibep. The loan is secured by a KUKE policy.
2018 was a year that brought a clear development of the scale of the activities carried out by KUKE. We have achieved a record value of insured turnover, an increase in the number of insurance contracts and bonds, and higher insurance premium year to year
The Polish clothing brand, CDRL S.A. (Coccodrillo), signed a PLN 10m loan agreement with Bank Gospodarstwa Krajowego. The financing is combined with a KUKE's insurance which covers the investment against political risk.
BGK signed a framework agreement with Belarusian Belarusbank for granting loans to the buyer’s bank on the Belarusian market. The agreement will considerably simplify lending procedures and facilitate the financing of Polish exports to Belarus.
Export and domestic receivables insured by KUKE grew in 2018 twice was fast as the market average. The value of this turnover in KUKE reached PLN 43.5 bn, which means an increase of 20% on an annual basis.
KUKE together with Bank Pekao S.A. have made available a new financial solution supporting Polish exporters. It consists of an advance payment bond and pre-financing of the export contract combined with a loan repayment guarantee.
The solutions supporting Polish exports jointly offered by KUKE and BGK have also proved attractive for importers from developed countries, giving them and their banks access to financing on even better terms than those available in their home markets
Recent political developments in Ukraine resulting from the Russian-Ukrainian confrontation in the Azov Sea have not affected KUKE’s long-term approach to transaction insurance issues between Polish entrepreneurs and their contractors in Ukraine.