Atradius
 | |
| Company type | Trade credit insurer |
|---|---|
| Industry | Insurance |
| Founded |  1925 Nederlandsche Credietverzekering Maatschappij (NCM),
 1954 Gerling-Konzern Speziale Kreditversicherung (GKS) |
| Headquarters | Amsterdam The Netherlands, |
Area served | Europe, Middle East, Asia, Africa, Americas, Oceania |
Key people | Isidoro Unda, Chairman and Chief Executive Officer (2008) |
| Products | Credit Insurance, Export Credit Insurance, Bonding, Instalment Credit Protection (ICP), Reinsurance Business, Collections |
| Owner |  Crédito y Caución (64.23%), Grupo Catalana Occidente (26.66%) INOC SA (9.11%) (2010) |
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 |
With an estimated 31% global market share, Atradius is one of the world’s largest trade credit insurers. The company, rated A- (outlook stable) by Standard and Poor (March 2011) turned over €1.5 billion in 2010.
Atradius insures an estimated €465 billion of trade around the globe each year. Atradius holds information on over 60 million businesses used to make over 20,000 credit limit decisions each day.
History
Trade credit insurance was created after World War 1 by various governments and private insurers as a means of economic stimulus. Atradius’ roots are to be found in these early organisations.
The core of Atradius came from the 2001 acquisition of Dutch insurer NCM (founded 1925) by German insurer Gerling (founded 1954).
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.
In addition, Atradius remains the official Export Credit Agency of the Dutch Government, a role it has held since 1932.
The now highly international group was rebranded as Atradius in 2004. 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 [1]
Products
Today, Atradius has 3,300 staff based in 160 offices in 42 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 Catalana Occidente 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 74.09%, of which 26.66% is directly owned and 47.43% is owned indirectly through Grupo CyC holding company. GCO controls 90.89% of the voting stock
- Grupo Crédito y Caución (Grupo CyC) is a holding company majority owned, 73.84%, by Grupo Catalana Occidente.
- INOC SA is a holding company with more than 400 shareholders. It owns directly and indirectly, 56.71% of Grupo Catalana Occidente’s share capital.
Management
The executive board, a distinct entity from the board of directors, includes:
- Isidoro Unda, Chairman & CEO
- Delfin Rueda, CFO & CRO
- David Capdevila, Chief Market Officer (Responsible for Credit Insurance in Spain, Portugal and Brazil.)