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Wherever your business stands, we stand along

COSEC is the leading insurer in Portugal in the areas of credit and bond insurance, offering the best solutions to support credit management in the domestic and foreign markets. COSEC is also the Portuguese Export Credit Agency managing, on behalf of the Portuguese State, the officially supported insurance against commercial and political risks associated with the export and investment of Portuguese companies abroad.

The shareholder structure of COSEC combines the solidity of Banco BPI, one of the largest Portuguese financial conglomerates, with the experience of Euler Hermes, the largest credit insurance group worldwide.

 

Our history

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2017

COSEC, through its International Department, develops cooperation protocols with AEP, ECGC, and the Monetary Authority of Macao.

Furthermore, with the support of the Associação Selectiva Moda, COSEC is present at the important textile fair Première Vision Paris, offering on-site support to companies in the sector.

2016

COSEC hosts the 2016 General Assembly of the Berne Union, for the first time in Portugal, with the presence of 82 export credit insurers from all over the world.

In partnership with APICCAPS, COSEC is present for the first time at an international fair: the Micam Shoevent in Milan.

2015

For the 4th time, COSEC is named Best Insurance Company, in the segment of Small and Medium Enterprises of the Non-Life branch, in the Banking and Insurance area, by Exame Magazine’s 500 Biggest & Best of 2015 Awards.

2014

COSEC is awarded Best SME Non-Life Insurance Company by Exame and SIC Notícias.

2013

COSEC wins the World Finance Insurance Awards for Best Non-Life Insurance Company in Portugal.

2012

COSEC is once again awarded Best SME Non-Life Insurance Company by Exame Magazine.

The COSECnet online platform is restructured. COSEC receives the OutSystems Agility Award.

2011

COSEC is awarded Best SME Non-Life Insurance Company by Exame Magazine. 

2007

Euler Hermes becomes a COSEC shareholder, together with BPI, owning 50% of the company’s capital. 

2001

Beginning of the cooperation with the Euler Hermes Group. 

1999

Creation of the COSECnet online platform. 

1996

The first COSEC SME Policies are issued. Banco BPI becomes a majority shareholder.

1993

The company is reorganized and operational areas are established in Lisbon and Porto. The Aveiro office is opened.

1992

Second phase of COSEC’s privatization (100%).

1990

First phase of COSEC’s privatization (51%).

1989

The privatization process begins; COSEC is transformed into a corporation with mostly public capital.

1986

The first system of Portuguese Direct Foreign Investment Insurance is created.

1980

The articles of organization of COSEC - Companhia de Seguro de Créditos, Public Company - are approved. Banco de Investimento Público (BFE) becomes the main shareholder.

1975

The nationalization of COSEC is completed.

1974

The North Zone branch is inaugurated in Porto.

1973

COSEC begins its work in the Bond Insurance area.

1971

The first Internal Credit Insurance Policies and External Credit Insurance Policies – Commercial and Political Risks are issued.

1969

COSEC is founded on December 29, with mostly public capital, as a dedicated Credit Insurance Company.