Coface has obtained a license that enables it to sell its credit insurance directly in Colombia.

The credit insurer has been present in the country since 2007, but via a partnership with Mundial Seguros.

“Colombia has enormous growth potential: today only 500 companies use credit insurance. With our latest direct operations, we will be even closer to our customers and be able to offer them solutions to develop their business that match their need,” says Jean-Marc Pillu, chief executive officer of Coface in a recent release.

Pillu says that Coface will continue its growth in emerging economies and that after Ghana in 2012 and Indonesia in 2013, the insurer is focusing on Latin America as a strategic region.

The insurer now operates directly in nine of the region’s countries and has a share of almost 40% in the regional credit market.