Officials of Agricultural Insurance company and the German insurance company Gerling Speziale Credit Insurance of the Gerling group concluded their two-day contacts today, during which time the operations plan of the Credit Insurance Company, that the two companies are jointly establishing, were discussed.The new company will begin operation on the onset of 2001 and will become active in insurance of claims for the risk of non-payment by the debtor as well as other similar risks related to the credibility of the parties involved. Initial share capital will surpass 500 million GRD.Over the two-day meetings the two parties finalized the operations framework in issues related to new products, procedures regarding business assumptions, counter-insurance and computer information systems.The necessary know-how related to credit insurance will be provided by the Gerling Speziale specialized personnel in combination with the high standard of technical background and experience on the part of the Agricultural group personnel, factors which ensure the successful operation of the new company.The Gerling group is the third largest insurance group in Germany and one of the largest in the world. It was founded in 1904 and is owned by the Gerling family by 70% and Deutsche Bank by 30%. Total premiums in 1998 surpassed 2.5 trillion GRD. The group employs more than 10.000 people and operates in 30 countries in five continents. Investments surpassed 8.3 trillion GRD. The group holds the largest market share in the industrial insurance sector in Europe.The Gerling Speziale Credit Insurance is the 2nd largest credit insurance group in Germany and the 3rd largest in the world. It was founded in 1954 and premiums in 1999 reached 206 billion GRD.The Agricultural Bank of Greece will be the majority stockholder of the new company, in its final phase, while management over the first few years will be the responsibility of Gerling Speziale.The two groups are already exploring cooperation possibilities in other sectors of insurance activities.