TCRe²

In December 2005, TCRe Insurance Company has created a subsidiary named Trade Credit Re Carré (TCRe² for short). This Luxemburg based company enjoys the status of a reinsurance company and is approved by the regulatory authorities of its country. As a wholly owned subsidiary of TCRe, TCRe² operates as a reinsurer in the same branches of insurance as its parent company: credit, bonds and various financial losses.

TCRe² enables TCRe to complete its range of products, offering its clients the possibility of financing all or part of their risks within a structure devoted specifically to this purpose. The specific Luxemburg legislation in respect of reinsurance is applied.

Claude Stiennon, Managing Director of the new entity, commented: "The creation of TCRe² follows on from the vision which led to the establishment of TCRe. Our fundamental philosophy is in fact to enable companies to develop their ability to manage their own credit risks. We respect the autonomy of our partners. The activities of TCRe² operates in perfect harmony with its parent company".