With annual sales of over £26m, this chemical manufacturer sells to over 1000 businesses in the pressroom/printing industry in over 100 countries including OECD and non-OECD countries.
Requirements & Solutions
Previously uninsured, this chemical manufacturer had a somewhat skewed buyer portfolio whereby failure of particular customers to pay could cause serious issues for the business. As well as looking to credit insure both concentrated and non-concentrated risks, this client was also looking to expand sales to new export markets and support their export receivables finance facility.
When approached by this client for assistance, Acumen Credit Insurance were able to meet all their requirements by designing a new credit insurance policy where the cover was tailored to cover every customer in every export market. Not only did this give the client the protection against bad debt that they were looking for, but also meant that their funders could expand their export receivables finance facility due to the increased security.