This week, alongside the many initiatives of the various governments to help businesses meet the challenges of recovering economic activity after Covid-19, Sberbank insurance broker LLC and Swissdacs GmbH (the European branch of the Swissdacs Group, Austria) signed the Brokerage and Cooperation Agreement, under which the parties agreed on the mutual representation of interests and support for corporate client’s business in insurance issues in EU, Switzerland and Liechtenstein, Russia and CIS countries.
Clients of both companies will be able to take advantage of the full range of services necessary to optimize insurance risks and effective lending in Russia and Europe. Particularly, Sberbank insurance broker and Swissdacs GmbH will provide mutual support to corporate clients in arranging insurance for financial engineering services, reverse factoring and project financing of import and export contracts. Sberbank insurance broker will represent the interests of Swissdacs GmbH corporate clients related to the organization of insurance in Russia, Swissdacs GmbH will provide similar support and represent the interests of Russian corporate clients of Sberbank insurance broker in European and CIS markets.
The Cooperation Agreement between Sberbank insurance broker LLC and Swissdacs will allow to use the experience and resources of both companies, considering the wide geography of their activities, to provide insurance coverage and financial engineering for customers, under import and export trade contracts in accordance with EU, Swiss and Russian laws.
«Sberbank insurance broker» LLC is a 100% subsidiary of Sberbank, the largest Russian bank. Carries out intermediary activities as an insurance broker on the basis of a license of the Bank of Russia SB No. 4330. Based on a comprehensive risk analysis, Sberbank insurance broker LLC provides services for selecting the most favorable conditions for the client for all types of insurance stipulated by the current legislation of the Russian Federation, provides a comprehensive analysis of customer needs and the selection of optimal and reliable insurance protection, advising on insurance and reinsurance issues, as well as assisting clients with paperwork when settling claims for insurance payments.
Swissdacs is a group of companies specializing in Financial Engineering projects and Supply Chain Finance projects, also through the innovative use of insurance contracts to support credits. The headquarters of the Group is located in Switzerland. Swissdacs GmbH (Austria) is the main unit of the Group in Europe. A branch of the Group also operates in London. The Group carries out risk management and insurance brokerage and has permits for activities in all EU and EFTA countries issued by the Austrian Federal Ministry of Science, Research and Economics (BMWFW) and the Swiss Financial Markets Control Authority (FINMA). Swissdacs advises several important multinational groups on risk, liquidity and supply chain structuring. Swissdacs also works as a consultant to major European banking groups, analyzing new markets, assessing risks and potential customers. The Group applies its insurance experience to reduce the credit risks of banking institutions and issue recommendations to implement the recommendations of the Basel Committee on Banking Supervision on capital adequacy (Basel II, III, IV).