Continental



History


Compañía de Seguros de Crédito Continental is the first of its kind in Chile. Its history blends together with the history of credit insurance in the country, which commenced in the year 1988, allowing the formation of private companies dedicating exclusively to the subscription of credit insurances, for both domestic and exportations purposes. In addition, companies which could also subscribe guarantee bonds and fidelity insurances.

After the encouraging conclusion of the respective feasibility study, the Continental's shareholders decided to form a company exclusively specializing in credit and surety insurance, naming it Compañía de Seguros de Crédito Continental, which was the first credit insurance company authorised under Chilean law by the Superintendent of Finance and Insurance, on the 7th February, 1990.

Continental has been the leading company in the Chilean market since its formation, providing effective solutions in respect to risks involved in Sales, either national or international, and also providing information on countries with which Chilean companies have commercial dealings.

Furthermore, the Superintendent of Finance and Insurance decreed inscription of Continental's Credit Insurance Policy in the Register of Policies (POL 1 90 002), being the first of its type in Chile.

Since 1990 to the present date, Compañía de Seguros de Crédito Continental has also developed the surety which today, since its creation, achieves that this market, which was once mainly dominated by banking guarantees, is now in acceptance of guarantee policies by the principle public and private entities, and as being an efficient instrument to guarantee obligations arising under contracts or legal dispositions.

Continental joined the Atradius Group as shareholders in 1997, thereby becoming an important ally, which has also been essential to the growth and development of the company.