TCRe establishes its french subsidiary in Paris. October 2005

Hardly eight months after the official launch on the 28th February 2005 in Brussels, Trade Credit Re, the new international player with an innovative approach in the sector of insurance of non-payment risk, has just opened a General Agency in France.
Answering a unsatisfied market need, the young company TCRe, which grants coverage against non-payment risks whilst respecting the insured party’s credit management autonomy, has already triggered such interest in the marketplace that the company can already foresee to conclude its first 10 months of activities with a turnover exceeding 20 million euros.

This success has stimulated TCRe’s Management to accelerate the implementation schedule of its European subsidiaries, and open up its subsidiary TCRe FRANCE, which is henceforth quartered boulevard Haussmann in Paris.

Arnaud Vallette joins TCRe with a background in international reinsurance and insurance

The management of the new subsidiary is taken over by Arnaud Vallette, who brings along an extensive, high level expertise in international reinsurance and insurance. He joins TCRe after nearly 25 years experience particularly appropriate to the specificities of TCRe, whose underwriting principles are those of reinsurance. He will indeed be able to put to use, to the benefit of TCRe’s clients, his knowledge of those insurance techniques which specifically apply to the risks of non-payment. He has been Reinsurance Director of UNISTRAT, an insurer specialised in political and commercial risks “à la carte”, underwriter of reinsurance treaties at SCOR, the first French reinsurer, and in charge of the reinsurance of the foreign subsidiaries of AGF, one of the first French insurance groups.

Questioned about his new challenge, Arnaud Vallette made the following statement : “ In joining TCRe, I have pleasure in leaving the somewhat stifling atmosphere of the traditional insurance of the risk of non-payment, where the client is – so to say – put under ‘close surveillance’. I will now be able to take part in the challenge of a young and ambitious company which, on the contrary, preserves the autonomy of its insured clients and totally respects their control of their customer-relation.”

TCRe’s President Bernard Rosen commented as follows :” Considering the corporate philosophy of TCRe, which differs from the one prevailing in the traditional insurance business of non-payment risk, Arnaud Vallette’s experience of listening to clients, which is one of the characteristics in reinsurance business, is quite appropriate. It will fit perfectly into our team of experts who have accepted the challenge to cover the non-payment risk of their clients whilst fully respecting their credit management autonomy.”