Segurexpo, registered under the Cesce brand, is a specialized insurance company that offers credit, compliance and civil liability insurance; Its majority shareholders belong to the Cesce Groupfrom Spain, majority owned by the Spanish State.
Juan Carlos Rondón Avendaño, CEO of Cesce Colombia, spoke with Portafolio.
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Why was the name from Segurexpo changed to Cesce Colombia?
We continue to be Segurexpo de Colombia Aseguradora de Crédito y del Comercio Exterior, an insurer with more than 60 years in the market, with our registered brand Cesce. We are a public limited company mainly owned by Cesce Internacional through the International Consortium of Credit Insurers of Spain, specialized in the operation of credit, compliance and civil liability insurance associated with the execution of contracts.
Segurexpo in Colombia is a general insurance company with the Cesce registered brand, which offers solutions to its clients in the areas of Credit, Compliance and Civil Liability. Its majority shareholders belong to the Cesce Group, originating in Spain, majority owned by the Spanish State.
Cesce offers comprehensive solutions for the management of commercial credit and the issuance of surety insurance and guarantees in part of Europe and Latin America. Its business lines are: Credit Insurance; State Account Insurance; Surety Insurance and Electrointensive Coverage.
What are the business lines?
For the credit insurance sector, we have the Estrella Policy. The so-called comprehensive Gold Master policy, with which we insure the entire portfolio or all accounts receivable of our insured, in the event that their clients default or enter into reorganization, restructuring or liquidation law. It is a flexible solution which allows you to manage the risks of selling on credit and allows you to optimize the budget of every businessman at all levels and sectors.
However, we tailor the suit to the needs of each businessman. It is a policy for any company that wants to grow and continue selling on credit with peace of mind against the risk of non-payment, maintaining adequate management of its liquidity, which constitutes the “gasoline” of every company.
In the Compliance field, which is insurance with a wide range of alternatives, we offer an additional option to guarantee the insured compliance with legal or contractual obligations by which they may be affected. This part is marketed especially by our main channel, which is insurance intermediaries.
What are credit insurance, State account insurance, surety insurance and Electro-intensive coverage, compliance and civil liability?
The credit insurance ensures credit sales against possible non-payments. On the subject of State insurance in Colombia, political risks are similar to the coverage of Political and extraordinary risks. Political risks are those associated with measures adopted by governments and the impossibility derived from general economic or political situations or from measures adopted by governments to convert local currency into the agreed currencies to make the payment of a transaction and/or to transfer said currencies. currencies and extraordinary risks are those associated with catastrophic events.
The political risk that we grant, backed by the Colombian government, covers the exposure that a Colombian exporter has to the risk of non-payment by its clients due to political reasons.
In surety insurance and Electrointensive coverage, compliance and civil liability, our main products are policies with state entities with a single guarantee. There are also policies with public entities with a Private Contracting Regime, policies between individuals, policies with Legal provisions, judicial policies, policies for large beneficiaries, policies with Ecopetrol, among others.
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Juan Carlos Rondón Avendaño, CEO of Cesce Colombia (Segurexpo)
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Who are the clients?
We have a credit insurance portfolio of about 500 insured clients, including very large, large, medium and small companies. In compliance and RCE insurance we have approximately more than 5,000 bonded clients or contractors.
How has the business evolved in 2024?
It has been challenging, as we already knew, for Colombia, but we are aware that we have a great job to do by continuing to make credit insurance known in the country. We Colombians do not have as much of an insurance culture as in Europe, but we are convinced that every businessman who knows about this alternative does not miss the opportunity to acquire this coverage. Only 2% of the market knows about this solution.
(Read more: Government announces possible new credit line with the International Monetary Fund)
HOLMAN RODRÍGUEZ MARTÍNEZ
Portfolio
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