Marcelo Franco has been nominated acting president of SBCE, Brazil’s export credit insurance agency. Franco, who has been working at SBCE since the company’s inception on June 9, 1997, took the new position on March 1.
He takes the helm at a daunting moment. While in 1997 SBCE operated alone in the Brazilian export credit insurance industry, today it has competition from companies such as Mapfre and Euler Hermes.
SBCE sells short-term export credit insurance policies and operates in the medium and long term on behalf of the Brazilian government. Shareholders are Banco do Brasil, BNDES, Coface, Bradesco Seguros, Minas Brasil Seguradora, Sul America Seguros and Unibanco AIG Seguros.