Jacinto Iglesias, new General Director of Crédito y Caución

The Board of Directors of Crédito y Caución has approved the appointment of Jacinto Iglesias as the company's General Director. He holds a degree in Economics and a diploma in Business Administration, and has a professional career at Crédito y Caución dating back to 1975. A member of the Management Committee, which he joined in 1995 as Risk Officer, he has held major positions of responsibility at the company, including in Commercial Management, responsible for development of the agents network, and Operational Management, running the Risks, Claims and Recoveries Departments.

Jacinto Iglesias, new General Director of Crédito y Caución

His appointment comes within the context of Crédito y Caución's process of internationalisation, with the previous General Director, David Capdevila, having recently taken over as head at the Atradius Group in Italy, Bonding, Instalment Credit Protection (ICP), Collections and Atradius Re. In his capacity as Chief Market Officer of the Management Board, these new responsibilities come in addition to those he holds in the field of credit insurance in Spain, Portugal and Brazil, the three markets where Crédito y Caución acts as the Atradius Group's representative.

About Crédito y Caución

The insurance company Crédito y Caución has for some 80 years being helping companies to grow, protecting themselves against default risks in the sale of goods and services on credit. With a market share of close on 60% in Spain and 33% in Portugal, it is the leading company in its sector on the Iberian market. Crédito y Caución has also extended its direct activities to Brazil.

In these three markets, the company is the representative of the Atradius Group, which has a presence in 42 countries. With total earnings of nearly 1.8 billion euros and 31% share of the global credit insurance market, it has access to credit information on more than 52 million companies worldwide, and takes more than 22,000 credit limit decisions each day. Crédito y Caución's financial robustness has earned it a Standard & Poor's "A-" rating.