KUKE's record sales in 2017
The Export Credit Insurance Corporation Joint Stock Company (KUKE) achieved its record gross written premium of PLN 192 million throughout 2017, which is close to PLN 45 million more than its 2011 record results, and 41% more than in the whole of 2016. This premium record was reached both in commercial insurance as well as in business backed by the State Treasury.
The gross written premium in commercial activities came to PLN 56.9 million – a 22% y/y increase and PLN 5.6 million more in relation to the 2014 record level. The increase in gross premium written compared to 2016 was reported both in the area of credit insurance (15%), as well as bonds (53%).
The gross written premium within export credit insurance with State Treasury backing amounted to over PLN 135 million, which is PLN 35.6 million more than in KUKE’s record year 2011. There was a 51% premium increase in relation to 2016 and a 67% growth in medium- and long-term credit insurance, i.e. in the insurance of capital goods.
Our mission is to facilitate Polish entrepreneurs to safely expand their businesses both in Poland and abroad, which – judging by our record results for the whole of 2017 – we are successfully doing on a much wider scale now. Support for Polish companies is real and tangible, demonstrated by the fact that we insure transactions in 108 countries on every continent – even in the places that the competition doesn't reach. We are present all over the world, actively providing comprehensive support to our Clients. The year 2018 has brought new improvements, including an even greater customer focus and further streamlining of business, the effects of which will certainly soon be visible, Janusz Władyczak, President of the Management Board of KUKE, explained.
The total value of insured turnover in 2017, both within the country and abroad, came to PLN 41 billion, 26% more than the year before.
Our assistance not only comes in the form of insurance and financial facilities but also as strong conceptual support on a day-to-day basis. Our Clients are the most important to us, which is why we are committed to a broad range of educational activities, always standing by our Clients in foreign markets, wherever they may be. We check the liquidity of contractors, ensuring that any debts are recovered, and insure transactions and investments against political and commercial risks. We are also the only ones offering insurance with State Treasury backing, which makes our oversight full and comprehensive and gives Clients the peace of mind and confidence to safely and securely expand their business. Through this, we are facilitating the implementation of the strategy supporting the international expansion of Polish firms, which for KUKE - as a member of the Polish Development Fund Group - is an important compass for collaboration with Polish entrepreneurs, Janusz Władyczak, adds.