Trade credit insurer Solunion has launched operations in the Dominican Republic, bringing the number of Latin American countries it can serve to nine.
Jointly owned by Euler Hermes and MAPFRE, the firm will issue credit insurance policies to Dominican companies through MAPFRE BHD, MAPFRE’s subsidiary in the country, while Solunion Mexico will provide risk control and management services.
“The Dominican Republic is a growing market where local companies are developing increasingly intensive commercial activity inside and outside the country,” says Fernando Pérez-Serrabona, CEO of Solunion. “We want to help them in their growth, supporting them by insuring those operations that guarantee greater activity and lead to growth in the nation’s business sector overall.”
The Dominican Republic’s fiscal deficit fell from 6.8% of GDP in 2012 to 0.6% in 2015, and Euler Hermes estimates that the country’s GDP growth should reach 4.9% in 2016