Leading provider of trade credit insurance in South Africa Credit Guarantee Insurance Corporation (CGIC) was established in 1956. Since then, CGIC has built a reputation for excellence in risk management, supporting businesses with financial security and facilitating trade growth. The company specialises in protecting businesses against the risks of non-payment by debtors, ensuring stability and continuity in domestic and international trade. With expertise, CGIC combines deep market insights with innovative insurance solutions to safeguard businesses from financial loss. The company’s comprehensive risk assessment methodologies, backed by extensive databases and experienced underwriting, enables clients to trade with confidence. By mitigating credit risks, CGIC helps businesses expand into new markets, secure funding and improving cash flow management.

CGIC is a subsidiary of Old Mutual Group, with Old Mutual Insure owning 75%, further strengthening its financial stability and credibility. The company is also a key player in the global trade credit insurance market with Atradius NV, one of the world’s largest credit insurers, holding the remaining 25%. This global reach allows CGIC to support clients operating in international markets with reliable coverage and expertise.

CGIC’s core values include integrity, transparency and customer-centric service. The company is committed to providing tailored solutions that align with clients’ business needs, ensuring they remain competitive in today’s dynamic economic environment.

Product offering:

Trade credit insurance

• Coverage for domestic, export and international trade
• Protection against insolvency and protracted default
• Continual improvement in the quality of customers and, therefore, a lower incidence of bad debt

International trade credit

• Protection against buyer insolvency and payment delays
• Coverage for cross-border trade transactions
• Support for navigating foreign market risks and regulations

Bonds & Surety

• Performance bonds to guarantee contract fulfilment
• Advance payment guarantees for secure transactions
• Custom bonds to facilitate trade compliance
• Bid/tender bonds - Enhancing contractor credibility during bidding processes by guaranteeing their commitment and financial ability to undertake projects
• Retention bonds - Providing contractors with access to withheld project funds while still assuring clients that any defects will be rectified

Fuel guarantees

• Fuel guarantees for retailers
• Fuel guarantees for commercial clients which include transport, mines, wholesalers, distributing agents etc

Small business & Entrepreneur

• Tailored credit insurance
• Protection against non-payment of credit sales from the date of delivery
• Enhanced security to finance providers

By offering these comprehensive solutions, CGIC empowers businesses to trade with confidence, mitigate financial risks and achieve sustainable growth in a competitive market.