Message

Message of the Chairman and the Chief Executive Officer

At Credendo we maintained our support for businesses in 2022 while navigating the negative impact of the Russia-Ukraine war on the global economy.

The year 2022 was a difficult year for Credendo with the Russian invasion of Ukraine acting as a catalyst for a multitude of problems afflicting the global economy.

“We are secure in the knowledge that despite uncontrollable global factors affecting our activities – we have a strong, sustainable underlying business that can weather the challenges ahead.”

Vincent Reuter,
Chairman of the Board of Directors
Dirk Terweduwe,
Chief Executive Officer

Strategy

Rise 2022-2024

credendo-scheme-flat
  • Our vision

    We are the first-choice business partner to protect against the risks of trade and investments in the real economy and to facilitate the financing of such transactions.

  • Our mission

    Our mission is to support trade relations.

  • Core values

Highlights 2022

Sustainability and the environment

Internal organisation

New products

Board of Directors

Innovation and strategy

Risks

Managing risk in a global energy crisis

Geopolitical risks have been on the rise and reached a new high with the conflict in Ukraine – the dominant risk in 2022.

The conflict had multiple repercussions on the global economy and political risks.

Global economic and financial conditions deteriorated fast.

Europe landed in an energy crisis, the global economy experienced a slowdown, inflation levels rose, and we saw a sharp monetary tightening.

The end of cheap money combined with record-high debt levels and weakened macroeconomic fundamentals for many countries, paved the way for a potential wave of debt distress and restructuring.

"Greater vulnerability to more expensive fuel and food imports ultimately resulted in sociopolitical instability. Sri Lanka and Pakistan were the biggest victims.”

RAPHAEL CECCHI,

Country and Sector Risk Analyst at Credendo

Key figures

A European credit insurance group

Value of transactions insured (in million EUR)

2020
83,725
2021
95,060
2022
104,376

Insurance claims and loss adjustment expenses (in million EUR)

2020
255.0
2021
11.2
2022
235.7

Insurance premium revenue (in million EUR)

2020
334.0
2021
319.2
2022
370.2

Total potential exposure (in million EUR)

2020
59,328.3
2021
66,987.3
2022
73,441.6

Staff (in units)

2020
550
2021
520
2022
527

Geographical spread of risk exposure

credendo-map North America 3.8% Central & South America 11.1% European Union 38.5% Asia 25.0% Africa 16.2% Other European countries 4.9% Oceania 0.6%

Testimonials

Our clients in the spotlight

Corporate governance

  • Export Credit Agency
  • Short-Term EU Risks
  • Short-Term Non-EU Risks
  • Guarantees & Speciality Risks

Board of Directors

Vincent Reuter

Chairman

Wim Van Den Bossche

Vice-Chairman

Florence Lepoivre

Member, representative of the Minister for Economy

Henk Mahieu

Member, representative of the Minister of Finance

Lucas Degroot

Member, representative of the Minister for Foreign Affairs

Joris Totté

Member, representative of the Minister for Development Cooperation

Pascal Walrave

Member, representative of the Flemish regional government

Georges Stienlet

Member, representative of the Flemish regional government

Jean-Christophe Dehalu

Member, representative of the Walloon regional government

Pascale Delcomminette

Member, representative of the Walloon regional government

Annelore Isaac

Member, representative of the Government of the Brussels-Capital Region

Sarah Lokman

Member, representative of the Government of the Brussels-Capital Region

Executive Committee

Frank VANWINGH

Deputy Chief Executive Officer

Dirk TERWEDUWE

Chief Executive Officer

Nabil JIJAKLI

Deputy Chief Executive Officer

Supervisory Board

Dirk TERWEDUWE

Chairman

Nabil JIJAKLI

Member

Ronny MATTON

Member

Frank VANWINGH

Member

Management Board

Christoph WITTE

General Manager

Stefaan VAN BOXSTAEL

Member

Martin FRITZ

Member

Jan KOVAČIČ

Member

Board of Directors

Dirk TERWEDUWE

Chairman

Heidi CORTOIS

Independent Director

Karin DEESEN

Executive Director

Nabil JIJAKLI

Non-executive Director

Véronique LÉONARD

Independent Director

Jean-Paul STEENBEKE

Executive Director

Georges STIENLET

Non-executive Director

Stefaan VAN BOXSTAEL

Executive Director

Frank VANWINGH

Non-executive Director

Audit and Risk Committee

Nabil JIJAKLI

Chairman

Heidi CORTOIS

Member

Véronique LÉONARD

Member

Remuneration Committee

Dirk TERWEDUWE

Chairman

Heidi CORTOIS

Member

Georges STIENLET

Member

Executive Committee

Stefaan VAN BOXSTAEL

General Manager

Karin DEESEN

Deputy General Manager

Jean-Paul STEENBEKE

Deputy General Manager

Board of Directors

Dirk TERWEDUWE

Chairman

Cécile COUNE

Independent Director

Karin DOGUET

Independent Director

Eckhard HORST

Executive Director

Nabil JIJAKLI

Non-executive Director

Eric JOOS

Executive Director

Ronny MATTON

Non-executive Director

Liesbeth SINKE

Independent Director

Frank VANWINGH

Non-executive Director

Christian WIENEMA

Executive Director

Audit and Risk Committee

Frank VANWINGH

Chairman

Cécile COUNE

Member

Karin DOGUET

Member

Liesbeth SINKE

Member

Remuneration Committee

Dirk TERWEDUWE

Chairman

Cécile COUNE

Member

Liesbeth SINKE

Member

Executive Committee

Eckhard HORST

General Manager

Eric JOOS

Deputy General Manager

Christian WIENEMA

Deputy General Manager

Downloads

Our most recent publications

Annual report

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Book 100 years

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Comic 100 years

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CSR Report

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