EC approves Spain’s €500m credit insurance scheme

Lockdown in Madrid, Spain. Credit: iStock/Noppasin Wongchum

The European Commission (EC) has approved Spain’s €500m state-backed reinsurance scheme to strengthen the trade credit insurance market. The EC said the arrangement does not infringe state-aid rules. Under the scheme, the Spanish state will provide a reinsurance guarantee to private insurers of up to 60%. Risk and premium will be shared between the state and trade credit insurers. The…

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