During the financial crisis, EKF stepped in as reinsurer of the private credit insurance companies in Denmark. It was a helping hand particularly to many Danish SMEs and their continuous sale abroad.
At the height of the financial crisis in 2010, EKF reinsured continuous exports worth almost DKK 1.6 billion but since then, the level has decreased gradually to DKK 274 million as of 30 June 2015. The biggest headache of all continues to be Greece accounting for about DKK 27 million or 10% of the total amount.
”It is a good sign that EKF now reinsures fewer business transactions. It tells us that the risk on export markets is decreasing, and that it has become easier for Danish companies to obtain insurance in the private market against bad payers. During the whole period of time, we have had a strong cooperation with the private Danish credit in-surance companies,” says Ms Eberhard, CEO of EKF.