Solunion, a specialist in credit insurance; aEuler Hermes; and MAPFRE JV recently advanced their joint expansion into Latin America by opening their operations in Peru, a move that gives Solunion the opportunity to provide its experience to Peruvian businesses in managing trade credit risk.
This will help the businesses to improve safely, whether they are spreading locally or internationally. Mapfre Peru will issue the credit insurance policies, and Solunion Colombia will manage the policies.
Even though recent activity has decreased, Peru shows signs of remaining among the strongest countries in the region. The most recent Euler Hermes reports show Peru’s economy has a 6.5 percent average annual growth rate over the last few years. Experts attribute this increase to Peru’s raw materials prices as well as external demand, which especially applies to Peru’s relations with China.
Peru’s rich natural resources, central bank’s independence, and prudent macroeconomic policies, fiscal surplus, low public debt, low external debt, and strong foreign currency combine to make Peru’s economy better over time.
“In recent years, Peru has proved to be one of the strongest economies in the region, providing an excellent breeding ground for the emergence of businesses with export ambitions and, therefore, a need for credit insurance,” Fernando Pérez-Serrabona, Solunion’s chief executive officer, said. “Our goal of providing our customers with the best possible service means having a local presence. Following the launch in Peru, we now have operations in six Latin American countries, ensuring a very thorough knowledge of the risks in the region.”
