KUPEG, a leader on the Czech market for commercial credit insurance, has opened an office in Warsaw - the capital of Poland. According to the press release published by the company, the Polish office will offer a portfolio of services which includes insurance against the risk of non-payment of receivables from both domestic and foreign customers, as well as enforcement of insured receivables.

"The decision to open an office in Warsaw was led by our aim to fulfil this philosophy, together with the service we had already been providing to our Polish customers during the last year and our broad view of the Polish market", declared Michal VESELY, CEO of KUPEG uverova pojistovna.

"The new office in Warsaw provides Polish clients top levels of service in their native language and allows us to leverage the potential of the largest market in Central and Eastern Europe," said Michal VESELY.

The shareholders of KUPEG are the Belgian insurance company CREDIMUNDI (66%) and the Czech state-owned credit insurance company EGAP (Exportni garancni a pojistovaci spolecnost) - the remaining 34%.

According to the figures published on the KUPEG web-site, in 2013 the insurer reported gross written premiums of EUR 12.9 million,while the value of paid indemnification totaled EUR 9.6 million. At the same time, the value of insured receivables was EUR 7.1 billion.