Erste Group & Raiffeisen Bank Partner for Innovative Guarantee Insurance
In the realm of large-scale construction and infrastructure projects, businesses face mounting pressure to secure reliable guarantees and bonds from partners and public clients. In response, Erste Group and Raiffeisen Bank, in collaboration with Allianz Trade and Acredia, are offering innovative alternatives to traditional bank guarantees in Austria, Croatia, and Slovenia.
The demand for guarantee insurance is not limited to the construction sector. It's also on the rise among industrial companies and exporters. To meet this growing need, Allianz Trade and Acredia have joined forces to provide a dependable alternative to classic bank guarantees in the three aforementioned countries.
The primary objective of this partnership is to create a modern, locally anchored, yet internationally secured surety solution. This aims to give companies more flexibility in their investments and projects. By securing contracts through guarantees and bonds, businesses can avoid burdening their existing credit lines with banks. This, in turn, helps maintain entrepreneurial investment and growth potential.
Michael Kolb, CEO of Acredia Insurance, emphasizes the importance of these solutions in preserving liquidity and enabling companies to explore new business opportunities, especially in a cautious banking environment where credit lines are tightening and regulatory requirements are increasing. The partnership between Allianz Trade and Acredia combines Acredia's regional market knowledge with Allianz Trade's international financial strength and expertise, providing a robust and flexible solution for businesses navigating the complex landscape of guarantees and bonds.
