A European business

The competition among the top four companies, as well as the pressure to operate on a global scale, is intense. According to Gerling Namur’s Bernd Meyer, no more than €25mn separates GCIC from its nearest rival, Coface, in terms of premium income. GCIG, with an income of €500mn in 1999, is projecting growth of 17% to 18% this year and is aiming to surpass Coface (which is projecting a 10% growth rate for 2000) some time next year.