COFACE COMPLETES NORWEGIAN ACQUISITION

Credit insurer Coface has completed its acquisition of GIEK Kredittforsikring AS. The acquired company, which was owned by the Norwegian Ministry of Trade, Industry and Fisheries, writes short-term export credit insurance, with gross written premiums of €9m in 2019. It will now operate under the brand name Coface GK and be integrated into Coface Northern Europe under the leadership of regional chief executive Katarzyna Kompowska. The insurer said the acquisition strengthens its market position in the Nordic region.