Credendo

What Credendo does

Credendo is a European credit insurance group headquartered in Brussels, Belgium, founded in 1921 as Belgium's official Export Credit Agency. The group provides customized insurance, reinsurance, guarantees, bonding, and financing solutions for domestic and international trade transactions and investments abroad, operating through wholly-owned subsidiaries including Credendo – Export Credit Agency (AA- rated by S&P), Credendo – Trade Credit Insurance (A rated), Credendo – Guarantees & Speciality Risks (A- rated), Credendo Re, and Credendo Export Finance Solutions. Its product portfolio spans trade credit insurance (Comprehensive Policy, Supplier Credit Insurance, Top Up, XOL Partners), financing solutions including forfaiting and buyer credit up to EUR 8 million over 2-5 year tenors, political risk insurance covering investments abroad, surety bonds across seven European markets, reinsurance via Credendo Re, and sustainability-linked offerings through the Credendo Green Package.

The company serves a horizontal mix of customers: Belgian SMEs with international operations, large corporations, banks, insurance companies and reinsurers, and brokers, distributing through direct sales from Brussels, international brokers, fronting partnerships in China and India, and alliances with ICIEC, Lombard, and ATIDI across Africa, Middle East, Southeast Asia, and South America. The technology backbone is a credit decision platform developed with Infosys that has evolved from 19 to over 70 parameters, integrating financial data, country risk, sector risk, and real-time payment experience while balancing automation with human underwriter oversight. A mobile Risk app and country risk monitoring across 160+ countries extend the data layer to clients.

Revenue is generated through recurring premium streams across insurance and reinsurance products, transaction-based fees in financing, and fees on guarantee and bonding placements. With EUR 33 billion in cover capacity, 251-500 employees, and AA-/A/A- S&P ratings across its main operating entities, Credendo operates a diversified B2B credit insurance franchise anchored on its public ECA mandate and a century of underwriting history, with recent emphasis on SME segment expansion, platform automation, and selective geographic buildout into Asia and Africa.

Name

Credendo

Legal name

Credendo

Website

https://credendo.com

Company type

Private

Founded year

1921

Operating status

Operating

Headcount range

251–500 employees

Short description

Credendo is a European credit insurance group and Belgium's official export credit agency, providing trade credit insurance, political risk insurance, surety bonds, reinsurance, and export financing to Belgian SMEs, large corporations, banks, and brokers across Europe and globally.

Ownership category

akta.pro rank

Headquarters

HQ city

Brussels

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Trade Credit Insurance: Insurance products covering domestic and international trade transactions, protecting companies against non-payment of receivables. Includes multi-risk and single-risk insurance.
2. Reinsurance: Credendo Re provides proportional and non-proportional treaty reinsurance solutions across trade credit insurance, political risk, surety and bonding markets worldwide.
3. Bonds / Guarantees: Surety bonds and financial guarantees for contractors, securing projects and contracts across European markets.
4. Financing: Export financing solutions including forfaiting, buyer credit (up to EUR 8 million, 2-5 year tenor), and prefinancing for Belgian exporters and foreign buyers.
5. Political Risk Insurance: Insurance covering investments abroad against political risks including expropriation, political violence, business interruption, currency inconvertibility, award default, and embargo.
6. Financial Guarantees: Guarantees for bank loans and bond issues, including export funding guarantees that secure refinancing banks.
7. Export Finance Solutions for SMEs: New service launched for Belgian SMEs offering comprehensive financial products, risk management, and tailored export advice.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels9 records

Core offering

Credendo is a European credit insurance and reinsurance group providing trade credit insurance to protect businesses against non-payment by commercial buyers, along with credit reinsurance, guarantees, bonding, and export/political risk insurance for exporters and investors. It also arranges complementary trade and export financing solutions, including pre-export, pre-shipment, and post-shipment finance, structured under Belgium's official export credit agency mandate.

Product overview

Credendo is a European credit insurance group offering a comprehensive portfolio of insurance, reinsurance, guarantees, bonding and financing solutions for domestic and international trade transactions. The offering spans trade credit insurance (Comprehensive Policy, Supplier Credit Insurance, Top Up, XOL Partners), financing solutions (Forfaiting, Credendo Buyer Credit, Export Funding Guarantee), investment protection (Political Risk Insurance, Single Risk Insurance), guarantees across European markets (Belgium, France, Germany, Ireland, Netherlands, Poland, Spain), reinsurance (Credendo Re), and specialized products like the Credendo Green Package and Credendo Export Finance Solutions. The platform operates through Credendo - Export Credit Agency (AA- rated by S&P) and includes subsidiary entities for trade credit insurance and guarantees.

Differentiator

Problem solved

Functional benefit

Brands

• Credendo Re: Reinsurance capacity and solutions across trade credit, political risk, surety and bonding markets worldwide.
• Credendo Export Finance Solutions
• Credendo Green Package

Products and services

• Trade Credit Insurance Insurance cover that protects businesses against the risk of non-payment by their commercial buyers for goods and services delivered on credit terms, sold to corporates, SMEs and exporters in Belgium and across Europe.
• Credit Reinsurance Reinsurance capacity and treaty arrangements ceded to banks, primary insurers and brokers writing credit insurance, leveraging Credendo's underwriting expertise and AA- ECA rating.
• Guarantees and Bonding (Surety) Surety bonds and contractual guarantees supporting performance, advance payment, and other obligations required of businesses in commercial and public contracts (rated A- by S&P for Guarantees & Speciality Risks).
• Export and Political Risk Insurance Insurance cover for exporters and overseas investors against political and commercial risks in foreign markets, delivered under Credendo's mandate as Belgium's official export credit agency.
• Trade and Export Financing Pre-export, pre-shipment and post-shipment financing for Belgian and European exporters, structured alongside credit insurance to support working capital and cross-border trade.

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered minor and core.

• Putman SAminorOthers · 13 February 2026Belgian engineering, procurement and construction company awarded the EPC contract for the Yaoundé water supply reconfiguration project. The €73 million financing from ING, guaranteed by Credendo, is tied to this contract.
• InfosyscoreTechnology or IntegrationCredendo partnered with Infosys to develop and evolve its credit decision platform from 19 to over 70 parameters, integrating financial data, country risk, sector risk, and real-time payment experience. The partnership continues to incrementally improve automation while maintaining flexibility for tailored credit decisions.
• ICIECcoreStrategic or Co-development PartnerCredendo partners with ICIEC (Islamic Corporation for the Insurance of Investment and Development of Export Credit) as part of its global trade credit insurance operations, covering regions including Africa, Middle East, Southeast Asia, and South America.
• LombardminorChannel Partner/ Reseller/ DistributorLombard is an existing partnership through which Credendo extends its global trade credit insurance operations, particularly covering Africa, Middle East, Southeast Asia, and South America.
• ATIDIminorChannel Partner/ Reseller/ DistributorATIDI (African Trade and Investment Development Insurance) is an existing partnership extending Credendo's trade credit insurance coverage to Africa, Middle East, Southeast Asia, and South America.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Swiss Re: Global reinsurer with a sizeable credit and surety reinsurance book alongside much broader P&C and life reinsurance. Comparable to Credendo Re's treaty reinsurance activity but at vastly larger scale and as part of a much wider portfolio.
• Zurich Insurance Group: Global multiline insurer with credit and political risk capabilities embedded in a much larger commercial and specialty portfolio. Comparable in surety and political risk but operates far more broadly than Credendo's trade-credit-focused franchise.
• Munich Re: World's largest reinsurer, active in credit and surety treaty reinsurance as well as political risk. Adjacent peer for Credendo Re's proportional and non-proportional treaty offerings, operating as part of a much broader reinsurance franchise.

Direct peers

• Allianz Trade (formerly Euler Hermes): World's largest trade credit insurer, offering trade credit insurance, surety, and political risk cover globally. Directly comparable to Credendo across core trade credit, surety, and political risk product lines, though at materially greater scale and geographic reach.
• Coface: Paris-based global trade credit insurer providing credit insurance, surety, and business information across 100+ markets. Closely comparable product portfolio and customer base to Credendo's trade credit and political risk insurance operations.
• SACE (Italian ECA): Italy's official export credit agency providing export credit insurance, political risk insurance, surety, and financing for Italian exporters. Closely analogous to Credendo's role as Belgium's official ECA, operating under the same OECD framework.
• BPI France Assurance Export: French state-backed export credit agency providing export credit insurance, guarantees, and financing for French SMEs and corporates. Functionally equivalent to Credendo's Belgian ECA mandate and product set.
• Atradius: Amsterdam-headquartered trade credit insurer operating in 50+ countries with full-service credit insurance, surety, collections, and political risk offerings. Direct head-to-head competitor to Credendo in European trade credit and surety markets.

Others

• Trafigura (trade finance arm reference): Large commodity trader with extensive use of trade credit insurance and political risk cover from ECAs including Credendo. Functions as a customer/distribution counterpart rather than a direct competitor, but is a representative end user of Credendo's trade credit insurance and political risk products.

Regional players

• KUKE (Polish ECA): Polish state-backed export credit insurer offering trade credit insurance, sureties, and guarantees to Polish exporters. Comparable role and product set to Credendo's ECA activities but geographically anchored in Poland rather than Belgium.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCfiHTkjToR6Sndb2pli8gRA
• LinkedInlinkedin.com/company/credendo
• Xx.com/credendoEN

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Credendo