Atradius: Difference between revisions
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'''Atradius''' is a trade credit insurer. The company, rated ‘A’ (excellent) outlook stable by AM Best{{cn|date=September 2014}} and 'A3' outlook stable by Moody's{{cn|date=September 2014}} and achieved revenue of approximately €1.6 billion in 2013.{{cn|date=September 2014}} |
'''Atradius''' is a trade credit insurer. The company, rated ‘A’ (excellent) outlook stable by AM Best{{cn|date=September 2014}} and 'A3' outlook stable by Moody's <ref> Moody’s Investors Service, Credit Opinion: Atradius NV, Global Credit Research - 21 August 2014 </ref>{{cn|date=September 2014}} and achieved revenue of approximately €1.6 billion in 2013.{{cn|date=September 2014}} |
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Atradius provides trade credit insurance, surety and collections services worldwide. With a presence through more than 160 offices in 50 countries Atradius has access to credit information on 100 million companies across the globe. Its products help protect companies from payment risks associated with selling products and services on credit.{{cn|date=September 2014}} |
Atradius provides trade credit insurance, surety and collections services worldwide. With a presence through more than 160 offices in 50 countries Atradius has access to credit information on 100 million companies across the globe. Its products help protect companies from payment risks associated with selling products and services on credit.{{cn|date=September 2014}} |
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Revision as of 08:56, 3 October 2014
 | This article contains content that is written like an advertisement. (September 2014) |
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| Company type | Trade credit insurer
|
|---|---|
| Industry | Insurance |
| Headquarters | Amsterdam , Netherlands |
Area served | Europe, Asia, Africa, North America, Oceania, South America |
Key people | Isidoro Unda, Chairman and Chief Executive Officer (2008) |
| Products | Export Credit Insurance, Bonding, Instalment Credit Protection (ICP), Reinsurance Business, Collections |
| Owner | Crédito y Caución (64.23%), Grupo Catalana Occidente (35.77%) (2012) |
Number of employees | 3,300 FTEs |
| Divisions | Atradius Collections Holding B.V. (NL), Atradius Credit Insurance Agency, Inc (USA), Atradius Insurance Holding N.V. (NL), Atradius Finance B.V. (NL), Atradius Participations Holding B.V. (NL) |
| Website | www.atradius.com |
Atradius is a trade credit insurer. The company, rated ‘A’ (excellent) outlook stable by AM Best[citation needed] and 'A3' outlook stable by Moody's [1][citation needed] and achieved revenue of approximately €1.6 billion in 2013.[citation needed]
Atradius provides trade credit insurance, surety and collections services worldwide. With a presence through more than 160 offices in 50 countries Atradius has access to credit information on 100 million companies across the globe. Its products help protect companies from payment risks associated with selling products and services on credit.[citation needed]
History
Trade credit insurance was created after World War I by various governments and private insurers as a means of economic stimulus.
The core of Atradius came from the 2001 acquisition of Dutch insurer Nederlandsche Credietverzekering Maatschappij (NCM), founded in 1925 and by German insurer Gerling-Konzern Speziale Kreditversicherung (Gerling Credit), founded in 1954.
NCM was created with the goal of improving trade for companies in the Netherlands. From 1932 on NCM became the arm of the Dutch government through which it provides export credit services to Dutch companies. Atradius carries this function still on.
In Germany, Atradius' roots stem from Gerling Credit, which was established in 1954 as the credit insurance arm of the Gerling-Konzern insurance group of Cologne. In 1962 Gerling Credit opened its first international branch office in Switzerland. Gerling Credit was the first private credit insurer to offer export credit protection.
Each had made their own acquisitions prior to this including government ECAs (e.g. 1991, the UK’s ECGD) and private insurers (e.g. 1994 Namur Assurances du Crédit S.A., Belgium) who themselves dated back to the birth of trade credit insurance around 1919. The Atradius group today is the amalgamation of a number of international trade credit insurers and affiliated organisations from Belgium, Denmark, France, Italy, Mexico, Norway, New Zealand, UK and USA.
The now highly international group was spun off by Gerling-Konzern when it faced difficulties and in 2004 was rebranded as Atradius. This new name was created to reflect support for trade around the radius of the globe. In 2008 the group was further augmented with the addition of Spanish insurer Crédito y Caución and subsequently brought additional footholds in the Spanish speaking world.
Today, though largely Spanish owned, the business is headquartered in Amsterdam in the Netherlands.[2]
Products
Today, Atradius has 3,300 staff based in 50 countries and providing products and services to businesses to assist them in managing trade credit risks, particularly those involved in trading with new partners or in new territories. These include Trade Credit Insurance, Bonding, Instalment Credit Protection, Reinsurance Business, Collections and Business Information Services.
Shareholders
Grupo Compañía Espanõla de Crédito y Caución, S.L. (Grupo CyC) is a holding company majority owned,73.84%,by Grupo Catalana Occidente.
Grupo Catalana Occidente S.A. (CO) is, either directly or indirectly, the parent company of a group of insurance companies. GCO is listed on the Barcelona and Madrid stock exchanges. Grupo Catalana Occidente has an economic stake in Atradius N.V. of 83.20%, of which 35.77% is directly owned and 47.43% is owned indirectly through Grupo CyC holding company. GCO holds a controlling stake of Atradius of 100%.
Management
The Executive Board, a distinct entity from the Board of Directors, includes:
- Isidoro Unda, Chairman & CEO. As CEO, he is responsible for the units Strategy and Corporate Development, Human Resources and Facilities, Legal and Compliance, Internal Audit and for the credit insurance operations in Spain, Portugal and Brazil.
- Chris van Lint, CRO. As CRO, he is responsible for the units Group Risk Management, Group Buyer Underwriting, Risk Services and Outward Reinsurance.
- Andreas Tesch, Chief Market Officer. As CMO he is responsible for Atradius Credit Insurance worldwide (excluding Spain, Portugal, and Brazil), and for the units Dutch State Business, Global, Special Products, and Group Communication & Commercial Development.
- Claus Gramlich-Eicher, Chief Finance Officer. As CFO he is responsible for Finance, Financial Control, and Corporate Finance.
- Dominique Charpentier, Chief Insurance Operations Officer. As CIOO he is responsible for the units Bonding, Collections, Atradius Reinsurance, IT Services and Instalment Credit Protection.
Awards
- Best Credit Insurance Brand in Europe 2013 awarded by GLOBAL BRANDS MAGAZINE[citation needed]