Our clients trust us: Denmaur renews and extends its long-term policy
Good response times, risk underwriting expertise, collaborative approach… Denmaur, one of the UK’s leading paper suppliers, recently renewed its credit insurance agreement with Coface, a long-term partner.
DENMAUR: ONE OF THE MOST ESTABLISHED NAMES IN PRINT & PUBLISHING IN THE UK
Established in 1983, Denmaur is a leading specialist paper supplier in the UK with a turnover of approximately £150million. The Group offers a comprehensive range of innovative & sustainable products: as well as selling paper and managing stocks for printers and publishers, the Group increasingly supplies the food-packaging sector.
AN EFFECTIVE CREDIT MANAGEMENT STRATEGY TO SUPPORT THE DEVELOPMENT OF THE COMPANY
The story of Denmaur shows what it takes to thrive throughout the cycles. The Kentbased group has been a leading paper supplier for forty years, while countless competitors have fallen by the wayside as the market has shrunk.
Not only has Denmaur successfully overcome tough trading conditions, they’re also planning for the future. They have been agile and confident enough to make strategic acquisitions and exploit new opportunities such as the shift to sustainable sources of food packaging.
In a very competitive sector, Denmaur’s continued success also relies on a highly effective credit management strategy, supported by Coface’s expertise since 2017. In a high-risk industry, Denmaur must protect its balance sheet from financial shocks and exceptional losses. In that respect, credit insurance has always been part of the company’s credit risk mitigation strategy. It protects their balance sheet in a negative scenario, such as a recession where some of the customers fail. Additionally, it also has positive effect when it comes to funding because the funders are aware the company has a credit insurance policy.
COFACE HAS PROVIDED EXPERTISE & REAL TIME INFORMATION IN A FLEXIBLE WAY, LEADING TO A LONG TERM PARTNERSHIP
In order to efficiently support Denmaur, Coface has put in place a flexible whole turnover policy “which provides real time credit risk information, insurance against payment defaults and debt collections. It also includes tools to support credit management and multiple options to customise and adjust cover.”, explains Dan Tidman, Mid-Market Account Manager of Coface UK.
Denmaur is able to manage their policy on a daily basis and to speak to a risk underwriter when needed.
Denmaur and Coface have recently agreed on a new long-term policy extension which can be adjusted every 12 months. Indeed, the solutions, the risk underwriting expertise, and the collaborative approach demonstrated by Coface were of great values for Denmaur. “Having used credit insurance for many years, I’d recommend Coface because their response times on limits are exceptionally good compared with other providers, their underwriters know what they are doing and they are always happy to discuss any issues.”, underlines Mark Harsent, Risk Manager, Denmaur Independent Papers Ltd.
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