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