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Atradius to acquire 25% equity stake in CGIC to cement strategic partnership

01 September 2016

In March 2016, the Financial Services Board approved Mutual & Federal’s transaction to acquire 100% of the issued shares in Credit Guarantee Insurance Corporation of Africa Ltd (CGIC). This confirmed CGIC as a core asset within Mutual & Federal’s portfolio of insurance businesses. Mutual & Federal has now accepted an offer from Atradius N.V. , a leading global trade credit insurance, surety and collections services company, for a 25% strategic equity stake in CGIC. Atradius operates in 160 offices in 50 countries, generates Euro 1.7 billion in revenue and enjoys a credit rating of A from AM Best credit rating agency.

Financial results of Credit Guarantee Insurance

06 May 2015

Credit Guarantee Insurance Corporation (CGIC) today announced its results for the 2014 financial year. Charles Nortje, CEO comments, “For the first time in the company’s history, our gross premium income exceeded the R1 billion mark, which represents 13% growth year-on-year substantially outpacing our prior year revenue performance and evidencing strong underlying demand for trade credit insurance.”

Credit Guarantee: CEO retires

25 April 2013

Mike Truter, Managing Director and CEO of Credit Guarantee Insurance Corporation of Africa Limited will retire at the end of July 2013, the company’s Chairman Peter Todd announced today. Truter, who joined Credit Guarantee in 1986, has reached the company

Operating in Africa is Risky Business

17 January 2013

Peace and stability in a country can be very fragile - the dire situation in Mali is the best example of this; and it is true of Africa more than any other continent.

quick poll

Question

How concerned are you that your clients might fall for deepfake or other AI-backed cybercrime scams, especially in financial or investment settings?

Answer

Nervous; but watching carefully Not fussed; my clients are on the ball Terrified; clients are too trusting What’s a deepfake again

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Liquidation statistics reflect tough operating conditions

28 August 2008

Company News & Results / Credit Guarantee Insurance (CGIC)

Atradius to acquire 25% equity stake in CGIC to cement strategic partnership

Financial results of Credit Guarantee Insurance

Credit Guarantee: CEO retires

Operating in Africa is Risky Business

Liquidation statistics reflect tough operating conditions