Atradius Receives Insurance License in Singapore

Amsterdam/Singapore, Wednesday, 24 January, 2007 - Atradius Credit Insurance today announced that it has received its operating license in Singapore. Its new Singapore branch office is located in Equity Plaza on Cecil Street in the central business district. The Singapore office will be another significant base of commercial operations and risk underwriting for Atradius in Asia, where Atradius currently has offices in Hong Kong, Tokyo, and Shanghai.

 

Alun Sweeney, Regional Director for Asia pointed out that “Singapore is an important market not just for Atradius, but for a large number of multinational and global companies as well. Singapore is strategically located in Southeast Asia and has a well developed infrastructure and transportation hubs making it a key location for success in the region. It will further enable us to leverage our capabilities and coverage of the region through improved risk and customer services.

 

Atradius will be providing both sales and risk underwriting from its Singapore branch office and expect to rapidly grow its business in this market. The office will be led by Terry O’Reilly who has more than 25 years of experience with Atradius. He has extensive experience of risk management in Asia. The branch Commercial Manager is Ms Rosamund Loh. Ms Loh was recruited to Atradius in 2006 and previously was Head of the Business Development Department at the Singapore credit insurer ECICS Ltd."

 

Alun Sweeney commented: “Singapore represents a very important market for Atradius. We have identified over 100 of our existing multinational customers conducting business in Singapore. We will work together with them to help develop and expand their businesses by enabling more secure business transactions and increasing access to growth capital. There is also considerable scope to develop a new customer base.”

 

Atradius plans to continue to expand in Asia. As part of its development strategy, Atradius is currently considering other opportunities for growth in Taiwan, Thailand, Malaysia and Korea.

 

Peter Ingenlath, Acting CEO of Atradius, concluded: “Asia continues to be a key region for economic growth. China and India are leading the way, however other markets in the region are also exhibiting strong growth. Trade both within the region and with other less well established markets is increasing all the time, and Atradius intends to be where our customers need us to be to help them maximise their trading potential. Along with our regional hub in Hong Kong, and other Asian offices, our new Singapore branch will provide our customers here with high service levels and further strengthen opportunities to grow their business across Asia.”

 

About Atradius:
Atradius is a leading credit insurer with total revenues of around EUR 1.3 billion and a 24% share of the world credit insurance market. It insures approximately EUR 350 billion of world trade annually against non-payment and provides a comprehensive range of risk transfer, financing and trade receivables management services. With 3,400 staff and more than 90 offices in 40 countries, Atradius has access to credit information on 45 million companies world-wide and makes more than 12,000 credit limit decisions daily. It is “A” rated by Standard & Poor’s (outlook stable) and A2 by Moody’s (outlook stable).

 

The Singapore office will officially open in mid February.

 

For further information:

Atradius Singapore
Ms. Rosamund Loh
Mobile: +65 9753 5440
Phone: +65 6372 5300 (beginning mid February)
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Atradius Global & New Markets
Alan Batchelor
Phone: +44 29 20 824604
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Corporate Communications
Joanne Aaron 
Tel.: +44 (0)29 2082 4873
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www.atradius.co.uk

Will Vietnam be the next China?

Amsterdam, Thursday, 26 October, 2006 - New research reveals more than 80 per cent of global companies are already investing in second tier emerging markets.

 

The research carried out by the Economist Intelligence Unit together with global credit risk manager Atradius, provides insight into opportunities in new investment destinations, including Vietnam, Indonesia, Poland, Mexico and the United Arab Emirates.

 

Over the last few years the size and potential of the BRIC markets – Brazil, Russia, India and China - has attracted the lion’s share of attention. But as these markets become saturated investors and multinational firms are looking to second-tier emerging markets that could offer even more potential.

 

The new research includes countries of South-East Asia, such as Vietnam and Indonesia; Eastern Europe, such as Poland and Romania; Latin America, such as Mexico and Venezuela; and countries of Africa and the Middle East, including South Africa and the United Arab Emirates.

 

The Asia-Pacific region (excluding India and China) is considered to have the greatest opportunity for foreign investors, with Eastern Europe, apart from Russia, not far behind. According to the report’s respondents, Vietnam has by far the most investment potential, followed by Mexico, Poland, Indonesia and Romania.

 

The research has been used in a report entitled Succeeding in Second Tier Emerging Markets. This report reveals that companies are looking at these markets more as long-term investments, helping to achieve growth rather than simply providing lower production costs.

 

The report highlights that improving relationships with local governments is felt to be the best way to manage risk, while poor rule of law and political instability remain significant barriers to investment. Also discussed in the report is the importance of credit management and other risk management techniques.

 

For any type of investment in second-tier emerging markets, executives will need to consider the following:

• Political and economic stability
• Cultural and social issues
• Maturity of capital and financial markets
• Corporate governance of local companies
• Existence of financial intermediaries, e.g. credit rating agencies
• Availability of talent
• Policies and attitudes towards foreign investors
• Taxation structures

 

The full report can be downloaded, free of charge, from www.atradius.com.

In addition, The Economist website is hosting a webinar, which will be available from Thursday 26th October. To register or listen to the webinar, please go to http://events.unisfair.com/econ/atradius/index.html. Experts on emerging market trade will debate the issues facing businesses trading or considering trade with the emerging markets. The panellists will be: Rob Mitchell, a senior editor in the Economist Intelligence Unit, Sunil S Poshakwale, Professor of International Finance at Cranfield University, and Dr Gaurav Ganguly, Senior Economist at Atradius.

The report and webinar debate will help companies weigh the advantages and disadvantages of operating in these markets. They will also provide valuable comparisons of and insight into individual second-tier emerging markets.

For further information, please contact:

Jeremy Francis
International Brand Manager
Phone: +44 (0)29 2082 4924
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or

Penny Clarke or Rebecca Baxter at Energy PR
Phone: +44 (0)1993 823011
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Atradius Receives Insurance License in Hong Kong - its a new Regional Hub

Amsterdam/Hong Kong , Thursday, 5 October, 2006 - The Hong Kong Branch of global credit insurer Atradius received it’s operating license on 29 September cementing its foothold in Asia with the opening of its new branch in Hong Kong, located in Central Plaza on Harbour Road. The Hong Kong office will be the regional headquarters for Asia, where Atradius currently has offices in Tokyo, Shanghai and Mumbai. A new office in Singapore will open later in the year.

 

Peter Ingenlath, CEO of Atradius, sees the opening as a major milestone in Atradius’ planned expansion in Asia: “Obtaining our operating license in Hong Kong enables us to fully maximise the value of our offering in Asia to our customers. We have selected Hong Kong as a strategic central location from which to springboard our plans for the region. Not only have we secured our Hong Kong license, but we also commenced recently a co-operation in Mainland China on Domestic credit insurance with China Continent Property and Casualty (CCIC). We now have a springboard to exploit in full the potential which this region offers.”

 

Alun Sweeney, Regional Director for Asia, added: “Our Hong Kong office will provide the same high level of underwriting and customer service skills as can be expected from any of the other more than 90 Atradius offices world-wide. The Hub will not only operate in a commercial capacity, Risk Underwriters / Analysts will also be an integral part of the Asia team. As a result we will be truly able to offer a full service to customers and brokers in the Region.”

 

Atradius will not be stopping there, either. As part of its strategy for development in Asia, Atradius is currently considering other opportunities for growth in the Region. Markets such as Korea, Taiwan, Thailand and Malaysia offer potential opportunities for future development. Sweeney continues: “We see Asia as one of the key regions for economic growth, and whilst China and India are leading the way, other markets in the Region are growing significantly as well. Trade both within the Region and with other less well established markets is increasing all the time, and Atradius intends to be in the right places at the right time to help our customers maximise their trading potential.”

 

 

 

About Atradius:

Atradius is a leading credit insurer with total revenues of around EUR 1.3 billion and a 24% share of the world credit insurance market. It insures approximately EUR 350 billion of world trade annually against non-payment and provides a comprehensive range of risk transfer, financing and trade receivables management services. With 3,400 staff and more than 90 offices in 40 countries, Atradius has access to credit information on 45 million companies world-wide and makes more than 12,000 credit limit decisions daily. It is “A” rated by Standard & Poor’s (outlook stable) and A2 by Moody’s (outlook stable).

Further information:

Hong Kong
Mr. Alun Sweeney
Phone: +852 3657 0700
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Mumbai (India)
Mr. Daniel Stausberg
The New India Assurance Co.Ltd.
Phone: +91 222 202 5547
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Shanghai (China)
Mr. Martin Jones
Atradius Credit Information Consulting (Shanghai) Co., Ltd.
Phone: +86 21 6859 0550
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Tokyo (Japan)
Mr. Motoaki Hoshino
Atradius Credit Insurance N.V. branch Japan
Phone: +81 3 5776 7300
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Corporate Communications
Joanne Aaron 
Tel.: +44 (0)29 2082 4873
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www.atradius.co.uk

Net profit Atradius up 8% in 1st half of 2006 and next steps in Corporate Development

Amsterdam, Wednesday, 27 September, 2006 - Credit insurer Atradius today reported a net profit of € 60 million for the first six months of 2006, an 8% increase compared to the same period in 2005, setting a new first half record in Atradius’ history.

 

Following the recent increase of Seguros Catalana Occidente’s and Crédito y Caución’s shareholding in Atradius to 49.99 % the shareholders have now initiated active discussions to finalize the structure and terms of a merger between Atradius and Crédito y Caución.

 

It is expected that such a merger will bring significant benefits to both companies and allow for the preparation of the targeted IPO of the combined firm while emphasizing the complementary strengths of Atradius and Crédito y Caución.

 

Isidoro Unda, currently member of the Supervisory Board of Atradius and CEO of Crédito y Caución, has been nominated as CEO of Atradius. His appointment will be effective upon completion of the merger and related regulatory

 

approvals. Wilfried Verstraete will step down as CEO of Atradius with effect on October 1^st but continue to advise the company in the coming months. Peter Ingenlath, Vice Chairman of Atradius’ Management Board, will serve as ad interim-CEO while Paul-Henri Denieuil will continue to play an active governance role as Chairman of the Supervisory Board.

 

Paul-Henri Denieuil, Chairman of the Supervisory Board of Atradius: “Wilfried Verstraete, has achieved all the objectives that were defined when he joined Atradius in May 2004. Under his leadership, a new strategy was developed and implemented as a result of which Atradius is ready for the next step in its corporate development. We are very grateful for everything Wilfried has brought to Atradius.”

 

Wilfried Verstraete, CEO of Atradius: ”In these two and a half years I had the privilege to work with a fantastic team. Together we have restructured and streamlined the company, given it a real strategic vision, realised a true turnaround and generated record profits. Today, Atradius is again fit for the future.”

 

 

Notes to Editors

About Atradius

 

Atradius’ current shareholder structure (rounded figures):

- Seguros Catalana Occidente, S.A. de Seguros y Reaseguros, Sociedad Unipersonal &
Compañía Española de Seguros y Reaseguros de Crédito y Caución, S.A., (Spain): jointly  49.99%

- Schweizerische Rückversicherungs-Gesellschaft (Swiss Re), Zurich (Switzerland): 34.95%

- Deutsche Bank AG, Frankfurt (Germany): 12.73%

- Betrados B.V., a subsidiary of Sal. Oppenheim jr. & Cie. KGaA, Cologne (Germany): 2.33%

 

A report on the financial results of the first six months of 2006 can be found in the appendix to this press release.

 

For further information:

Hill & Knowlton Nederland

 

(On behalf of Atradius)

Edwin van Wijk
+31 20 – 404 4707
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