aboutcredendo
Who are we?
Credendo is a European credit insurance group that is present all over the continent and active in all segments of trade credit and political risk insurance, providing a range of products that cover risks worldwide.
Vision
We are the first-choice business partner to protect against the risks of trade and investments in the real economy and to facilitate the financing of such transactions.
Mission
Our mission is to support trade relations. We provide customised solutions of insurance, reinsurance, guarantees, bonding and financing related to domestic and international trade transactions or investments abroad. We protect companies, banks and insurance undertakings against credit and political risks, and facilitate the financing of such transactions. We act in a responsible and forward-looking way.
Turning uncertainties into opportunities.
Our values
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Customer intimacy
Customer satisfaction is at the core of our values. We listen, we propose bespoke solutions, we are approachable, we explain our decisions and we deliver first-class service. Our people come up with smart solutions in response to specific business needs or complex risk environments.
You get bespoke solutions.
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Respect
We show respect for our customers, our staff, our shareholders and all other stakeholders as well as for society and the environment. We act forcefully against any discrimination. We treat everyone fairly and honestly. We always try to do the right thing and apply high standards of ethical behaviour.
You can trust us.
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Reliability
We aim for best-in-class expertise of our businesses and risks. We strive for operational efficiency that underpins customer intimacy. We have a long-term view on our activities – we look through the cycle and aim for sustainable financial results.
You can count on us.
History of Credendo Group
Credendo is the world’s second-oldest public credit insurer. Since it was founded in 1921 our company has grown to become the fourth European credit insurance group and covers your risks worldwide.
Governance
Board of Directors
| Vincent REUTER | Chairman | |
| Wim VAN DEN BOSSCHE | Vice-Chairman | |
| Rémi JANSSENS | Member, representative of the Minister for Economy | |
| Renaat SCHROOTEN | Substitute member | |
| Henk MAHIEU | Member, representative of the Minister of Finance | |
| Ludivine HALBRECQ |
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| Lucas DEGROOT | Member, representative of the Minister for Foreign Affairs | |
| Jean-François KRENC | Substitute member | |
| Jan De PRETER | Member, representative of the Minister for Development Cooperation | |
| Alexander VERSTRAETE | Substitute member | |
| Pascal WALRAVE | Member, representative of the Flemish regional government | |
| Philippe NYS | Substitute member | |
| Georges STIENLET | Member, representative of the Flemish regional government | |
| Koen DE RIDDER* | Substitute member | |
| Jean-Christophe DEHALU | Member, representative of the Walloon regional government | |
| Pascale DELCOMMINETTE | Member, representative of the Walloon regional government | |
| Hubert SIEMES | Substitute member | |
| Annelore ISAAC | Member, representative of the Government of the Brussels-Capital Region | |
| Kim EVANGELISTA | Substitute member | |
| Pierre HARKAY | Member, representative of the Government of the Brussels-Capital Region | |
| Emiel NEYRINCK | Substitute member |
*Outgoing
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Dirk Terweduwe, Group CEO and Chairman of the Group Coordination Committee
- Born in 1961 in Aarschot, Belgium
- He holds a Licence degree (Master) in Economics and a Master of Arts (Advanced Master) in Economics from the University of Leuven (Belgium).
- After his studies, he worked as a research and teaching assistant at the University of Leuven for three years. In 1987 he joined Credendo – Export Credit Agency and in 1989 he was nominated Chief economist and Head of the country risk department. In 2004 he was appointed Deputy CEO of Credendo – Export Credit Agency and of Credendo – Short-Term Non-EU Risks. At the end of 2009 he took up his current position as CEO of Credendo – Export Credit Agency and Group CEO of Credendo. From 2010 to 2013, he was also the CEO of Credendo – Short-Term Non-EU Risks.
- He is Chairman of the Supervisory Board of Credendo – Short-Term EU Risks. He is also Chairman of the Board of Directors of Credendo – Short-Term Non-EU Risks and of Credendo – Guarantees & Speciality Risks.
- Since 1996 he is also the Chairman of the Group of Country Risk Experts within the framework of the OECD Arrangement on Officially Supported Export Credits.
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Frank VANWINGH, Group Deputy CEO and Vice-Chairman of the Group Coordination Committee
- Born in 1962 in Hasselt, Belgium
- He holds a Master’s degree in Law from the University of Leuven (Belgium) and a DESS in European Law from the University of Nancy (France).
- He started his career at Credendo – Export Credit Agency in 1989 as a Legal Counsel and Claims Manager. He was then appointed Deputy Head of the Department Claims & Legal Advice and later became Head of the departments Strategy, Legal and Risk Management. He is now Deputy Chief Executive Officer of Credendo and of Credendo – Export Credit Agency. He is also the Chief Operating Officer.
- He is a member of the Supervisory Board of Credendo – Short-Term EU Risks. He is also a member of the Board of Directors of Credendo – Guarantees & Speciality Risks.
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Nabil JIJAKLI, Group Deputy CEO and spokesperson of the Group
- Born in 1964 in Damascus, Syria
- He holds a Master’s degree of Political Sciences and of International Relations and completed a Postgraduate Program in International Politics at the ULB in Brussels.
- He is Deputy Chief Executive Officer of Credendo and of Credendo – Export Credit Agency. Before joining Credendo, he worked at the National Bank of Belgium (Belgian central bank) for 21 years. His last position there was Secretary of the Financial Stability Committee. He was also responsible for the coordination of the euro introduction in Belgium and worked as an expert at the European Commission for three years.
- He is a member of the Board of Directors of Credendo – Short-Term Non-EU Risks and of Credendo – Guarantees & Speciality Risks.
Audit Committee
| Henk MAHIEU | Chairman |
| Rémi JANSSENS | Member |
| Lucas DEGROOT | Member |
Credendo Corporate Governance Charter
The Credendo Corporate Governance Charter (hereinafter the ‘Charter’) describes the governance of Credendo – Export Credit Agency (hereinafter ‘Credendo ECA’) and its subsidiaries. It defines how Credendo’s corporate leadership and managerial structure is organised and how it should operate in practice in order to balance control, risk management and transparency, while supporting the group’s success by ensuring efficient decision-making processes. For instance, it describes the composition and functioning of Credendo ECA’s Board of Directors and Executive Committee.
The draft of the Charter is based on and inspired by all relevant legislations and regulations, such as the law of 31 August 1939 creating Credendo ECA, the Belgian Code on Corporate Governance (2020), the OECD Guidelines on Corporate Governance of State-Owned Enterprises (2015) and the new governance circular issued by the National Bank of Belgium (2020). The Charter also refers to and reflects, where useful, the principles set forth by Credendo’s group policies and charters.
The Charter has been approved by the Board of Directors of Credendo ECA and will be reviewed and updated on an annual basis.
Sustainability at Credendo
Corporate sustainability is important for Credendo. We want to conduct our business in a manner that is socially responsible and forward-looking, taking into consideration our impact on the environment, on society, on the economy, on our stakeholders and on our people.
Organisational structure
Annual Report
The year 2022 was a difficult year for Credendo with the Russian invasion of Ukraine acting as a catalyst for a multitude of problems afflicting the global economy. Unfortunately, the wider ramifications of the war had a negative impact on our claims volumes and on our cautious provisioning, resulting in Credendo posting a loss for 2022 despite our annual results showing good underlying performance across most divisions.
Downloads
Whether you are looking for recurring reports, financial information or other documentation, you can find it all here.