This partnership recognizes Coface’s global expertise as a credit insurer as well as its 75 years of experience and its vast network in 100 countries. It enables Al Rajhi Takaful to strengthen its position in the Saudi market by further enriching its suite of insurance solutions. Saudi businesses will have access to new innovative products and services, allowing them to effectively develop their business by preventing and managing the risk of non-payment. The agreement also allows Coface to expand its presence, providing its global clients with tailor-made solutions for their subsidiaries across Saudi Arabia.
Coface, a world leader in credit insurance and related specialist services, and Al Rajhi Takaful, one of the largest financial institutions and insurance company in the Kingdom of Saudi Arabia, have entered into a strategic partnership to distribute credit insurance solutions and help Saudi companies boost their growth in their domestic and export markets.
“We are extremely proud of this new partnership with Al Rajhi Takaful“, said Hassen Bennour, Managing Director for the Middle East and Southern Africa at Coface. “Strengthening our presence in the Saudi market with a local market leader is an important step in Coface’s expansion in the region. We will be able to effectively support a new pool of customers, protecting them against the risk of non-payment on and export markets.”
“This agreement is part of our distribution strategy. Our approach is to work with our partners and clients to fully understand their business strategy, the associated risks, and offer a range of services tailored to their specific needs. In collaboration with Al Rajhi Takaful, Coface is delighted to provide its new clients with sustainable development“, commented Cecile PaillardCEO of Coface in the Mediterranean & Africa region.
“We are pleased with this strategic partnership with Coface, which confirms our mission to provide protection to our customers through reliable, affordable and innovative solutions, in order to achieve our vision of reinventing insurance for Saudi Arabia. We also seek, through this partnership, to broaden our insurance base, diversify risk and bring innovative solutions to the insurance industry in Saudi Arabia.“, said Mr. Mahmoud DahduliCEO of Al Rajhi Takaful.