establishment of a branch in Bratislava - KUPEG Credit Insurance branch of insurance company from other Member State
KUPEG úvěrová pojišťovna, a.s. (KUPEG Credit Insurance).
Change in the Komerční úvěrová pojšťovna EGAP, a.s. ownership structure – shares held by SACE BT Spa were sold to Ducroire | Delcredere SA. NV. Ducroire | Delcredere SA. NV, who became the majority shareholder.
A strategic partner entered the company – 66% of the Komerční úvěrová pojišťovna EGAP, a.s. shares were transferred into the joint ownership of SACE BT Spa (Italy) and Ducroire | Delcredere SA. NV. (Belgium).
Komerční úvěrová pojišťovna EGAP, a.s. was founded as a 100% subsidiary of EGAP, to which a part of EGAP, dealing with short-term commercial insurance, was later added; the company commenced operations on 1 October, 2005.
EGAP was first company on the Czech market to offer commercial insurance to clients via online access to the insurance company’s information system. Clients were able to use this online access for communication with the company and other activities related to the insurance.
EGAP introduced a modular type of insurance policy which covered the whole portfolio of export and domestic receivables in the Czech commercial credit insurance market, making it possible to adapt flexible methods of communication between the client and the insurance company according to the client’s specific needs.
Within the framework of commercial insurance, EGAP expands its activities to include insurance of domestic receivables between Czech companies in addition to insurance of export receivables.
After the Czech Republic is established as a separate state, EGAP becomes a company that is fully owned by the Czech state. Since the start of its operations, its activities have been divided into short-term commercial credit insurance, provided according to market principles, and insurance with state aid, which is primarily intended for large export projects with long-term credit terms.
In February, Exportní garanční a pojišťovací společnost, a.s. (EGAP), was established as the first institution engaged in credit insurance in the then Czech and Slovak Federal Republic.