Coface India launches 3 new lines of business in India

Mumbai, Oct 20 (UNI) Coface India, a subsidiary of Natexis, today announced that it was strengthening it's presence in India with the launch of three new lines of business, solvency information, multinational credit insurance cover and political risk cover for banks and companies.

Briefing the media here the CEO of Coface, Jerome Cazes, explained that for their solvency information service they would need first class information on Indian companies. For it's credit insurance and factoring business Coface will have their information centre in Bangalore, he informed.

With a view to meet clients' needs relating to credit insurance cover, Coface has concluded partnership agreements with two general private insurers ICICI Lombard General Insurance (ICICI Lombard) and ITGI ( IFFCO-Tokio General Insurance), he said.

Regarding political risk cover, Mr Cazes explained that it will be extended through the same features as that for multinational cover. Political risk was very much involved in those countries that are projected as black spots, thanks to the existence of problems like starvation and poverty, he elaborated. Nigeria, Congo and others, are some of them, he added.

Replying to a media query, he said the Indian market's potential for growth was so high that it may go up to USD 143 million by 2010.

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