EuroCaution to Launch Financial and Infrastructure Guarantee for Municipalities

Luxembourg insurance and reinsurance broker EuroCaution Benelux will launch a new financial and infrastructure guarantee aimed at protected municipalities, on 18 March 2019.

EuroCaution Benelux, an insurance and reinsurance broker specialising in the underwriting of financial guarantees, performance bond, credit insurance and various financial losses, has committed itself to protecting municipalities in Luxembourg by guaranteeing completion of infrastructure works.

Alessandro Rizzo, CEO of EuroCaution, explained this move: "The financial and infrastructure guarantee [...] complements our financial completion guarantee offer and secures the entire construction operation to guarantee the completion of infrastructure works to municipalities. In the context of the not very affordable Luxembourg housing market, we are pursuing our objective of reducing costs for our customers.”

Since February 2019, EuroCaution has also been developing a new IT platform to 100% digitise the application process for financial completion guarantees and optimising the users’ process. In 2018, EuroCaution doubled its turnover and became the most important financial completion guarantee player in Luxembourg and Belgium with more than 200 customers. EuroCaution will continue to expand in 2019 by hiring new talents to its Luxembourg team.