Gerling, NCM team to write credit risks.(Gerling Credit Insurance Group)(Brief Article)

COLOGNE, Germany-German credit insurer Gerling Credit Insurance Group and Dutch credit insurer NCM Group plan to form a joint venture by the end of the year.

Gerling Credit, a Cologne, Germany-based unit of Gerling Versicherungs-Beteiligungs-A.G., and Swiss Re Group subsidiary NCM said last week that they will form a new company, to be called Gerling NCM Credit & Finance A.G. Gerling will take a 51% stake in the new company, which will be based in Cologne; Swiss Re will take a 25% stake. Private investors will hold the rest of the company. Swiss Re and Gerling said that an IPO is planned.

The combined groups would have a 25% share of the global credit …