In a moment of economic uncertainty and turbulence on the financial markets, good news for businesses, and above all for SMEs, comes from the formal agreement between Euler Hermes SIAC (world's leading credit insurance group) e Credit Agricole Cariparma (one of the world leaders in the banking and insurance sector).
This Memorandum of Understanding links the insurance policy and access to bank credit. In particular, the guarantee provided by EH SIAC makes it possible to improve the company's rating and consequently its creditworthiness. The most novelty of the offer is the prediction of a standardized flat rate policy for small businesses, the first in the Italian market; for larger companies, modular policies are structured according to the specific characteristics.
The desire to "create a system" clearly appears from the statements of the Central Director of EH SIAC, Massimo Falcioni and Franco Puccetti, Director of Business and Corporate Marketing of the Cariparma Crédit Agricole group.
For Falconi, “in the current economic scenario, banks and credit insurance companies can form a system to support the needs of SMEs to access credit [...] and this agreement is a valid example. The experiences of two leading operators in their respective fields can be put together to support the credit management of SMEs, reinforcing their creditworthiness in anticipation of Basel 3 regularization".
On the other hand, Puccetti underlines how “the difficulty in collecting receivables and in assessing the quality of one's customer portfolio is one of the problems most felt by companies, especially those operating in foreign markets. The finalization of this agreement represents a further step in supporting our clients in managing corporate risks to ensure constant growth of their competitiveness.”
Attached is the joint press release of the two companies.
Attachments: Euler Hermes Cariparma Agreement 301111.pdf
