COSEC is the leading Insurer in Portugal for credit and bond insurance, offering the best management support and credit control solutions for both internal and external markets. It is also responsible, on behalf of the Portuguese State, for covering and managing credit and investment risks in political risk countries.
COSEC’s mission is to establish a partnership with its clients, allowing them to better manage risk credit, to know their clients through detailed and updated information, to be more effective in debt collection, and to be closely followed and advised by a team of professional technicians and managers.
COSEC’s shareholder structure is very relevant, both institutionally and operationally, due to the existence of distribution synergies with BPI Bank and the access to Euler Hermes Group International network, that allows the company to have a better assessment to foreign companies and a strong credit recovery capacity in foreign markets.
Founded in 29 December 1969, COSEC’s long history translates into the following figures:
– More than 1.500 national clients
– 235 thousand national companies under surveillance
– More than 12.800 credit limit decisions per month
– More than 40 million business monitored internationally
– 17,2 billion euros business transactions protected worldwide
– 20 sectors permanently monitored
– 88% credit limits requests processed in less than 48h
– 45% average credit recovery rate over the last 6 years
COSEC is located in two major cities of Portugal: Lisbon (head office) and Oporto. It has branches in Aveiro, Braga, Coimbra, and Leiria.
1969 – COSEC was created on 29 December mainly with public capital.
1975 – COSEC is nationalized
1992 – COSEC Privatization (100%)
1996 – BPI Bank became major shareholder.
2007 – Euler Hermes became COSEC shareholder, together with BPI Bank, each one own 50% of COSEC’s share capital.
2014 – COSEC presents a new brand image
2016 – COSEC hosts the 2016 General Assembly of the Berne Union, for the first time in Portugal, with the presence of 82 export credit insurers from all over the world
2018 – In March COSEC changed its headquarters in Lisbon to the new facilities on Avenida da Liberdade, 249, 6th floor. Launches COSEC app, for IOS and Google Play, which allows access to COSEC and to manage the credit insurance policy anywhere in the world.
Board of Directors
Maria Celeste Hagatong Agrellos – Chairman
Thierry Etheve – CEO
Berta Dias da Cunha
Pedro Silva Fernandes
Av. da Liberdade, 249, 6th floor
Phone +351 217 913 700
Fax +351 217 913 720
R. Gonçalo Sampaio, 329, 3rd floor,
Phone +351 226 070 600
Fax +351 226 070 605