Record year for Trade Credit Insurance business line (TCI). The ARFiN BROKER group has had a very successful period in terms of results. During the second year of the pandemic it secured its clients with transaction cover in the amount of 1,5 billion. EUR. The branches in the Czech Republic and Slovakia thus recorded a 35% increase in turnover compared to the previous year. During its operation in both countries the company has already acquired a 6% share of the TCI brokered market. The company wants to continue to increase its share.
Kamil Kunco is a new colleague in ARFiN BROKER family. He will mainly take care of the development of business activities in Slovakia. Personnel reinforcement is related to building a full-featured representation of the company on the Slovak trade credit insurance market. This culminated in April 2021 with registration by the National Bank of Slovakia.
Registration by the National Bank of Slovakia (NBS) opens another stage of ARFiN BROKER operations on the Slovak market. At the same time, Slovakia is becoming one of the 40 countries with AU Group operations as the world's largest broker specialized in trade risks coverage. ARFiN BROKER has been a part of this multinational group since 2013.
Germany is an important partner of the Czech Republic and Slovakia in the field of international trade. Exports to Germany comprise 33% of the Czech Republic’s total exports, while they account for 22% of Slovakia's exports. Czech and Slovak companies are thus attaining trade receivables of considerable volume when delivering to Germany. The latest economic studies of the three insurers offer a look at how the payment discipline of German companies has evolved and what is expected.
The slower pace of economic growth is driving companies to push for the faster collection of their trade receivables. While in 2017, according to Euler Hermes (EH), the global leader in insurance of receivables, economic growth enabled greater customer-friendliness and the average maturity of receivables increased by two days, in 2018 there was already a global decline of one day, to 65 days.
ARFIN s.r.o. 2019, All rights reserved / Prepared by AMDEN with care