KUKE sold PLN 192 mln worth of export insurance last year

Export Credit Insurance Corporation (KUKE) sold PLN 192 million worth of export insurances last year, up by 41 percent y/y. The value of projects insured in KUKE in 2017 amounted to PLN 1.6 billion. “Key investment projects at KUKE relate to various sectors, from services to mining machines,” company’s President Janusz Władyczak said. The total value of insured trade turnovers, both at home and abroad, amounted to PLN 41 billion, up by 26 percent y/y. “Our main include Eastern Europe, mainly Russia, Ukraine, Belarus,” said Tomasz Ślagórski from KUKE’s finance department. While the most risk-ridden is Italy. “There is notoriously high loss ratio, the payment morale is quite low, whereas the best market is traditionally the German market,” he explained. (KUKE) is part of the state-run Polish Development Fund, it insures Polish entrepreneurs and is the only company that offers products with Treasury guarantees.