Atradius
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Atradius N.V. | |
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Type | Naamloze Vennootschap |
Founded | 1925 Nederlandsche Credietverzekering Maatschappij (NCM), 1954 Gerling-Konzern Speziale Kreditversicherung (GKS) |
Headquarters | Amsterdam, Netherlands, The |
Area served | Europe, Middle East, Asia, Africa, Americas, Oceania |
Key people | Isidoro Unda, Chairman and Chief Executive Officer (2008) |
Industry | Insurance |
Products | Credit Insurance, Export Credit Insurance, Bonding, Instalment Credit Protection (ICP), Reinsurance Business, Collections |
Revenue | € 1,4 billion (2007) |
Net income | ▲ € 164.2 million (2007) |
Owner | Crédito y Caución (64.2%), Swiss Re (25%), Deutsche Bank (9.1%), Sal. Oppenheim (1.7%) (2008) |
Employees | 3,900 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 Credit Insurance company. With headquarters in Amsterdam, they are the second largest Credit Insurer (by marketshare) worldwide [1], with an annual turnover of €1.8 billion and a global market share of 31%. [2]
Contents |
[edit] History
Atradius was introduced through the rebranding of Gerling NCM, which was formed by the merger of the international credit insurers NCM and Gerling Kreditversicherung (Gerling Credit Insurance Group) in late 2001. The company was renamed Atradius in January 2004.
Both companies were long-established in the international credit insurance industry. NCM was market leader in the Netherlands credit insurance industry since it was founded in 1925 and a partner of the Netherlands government since 1932, providing Export Credit Insurance to Dutch companies. The Gerling Credit Insurance Group was established in 1954 by the family-owned company Gerling.
Crédito y Caución became a part of the Atradius Group in 2008. Atradius now stands as one of the largest global credit insurance organisations in the world providing credit insurance and credit management products and services from more than 160 offices in 40 countries worldwide. [3]
[edit] Products
Atradius offers Insurance related products such as Credit Insurance, Bonding, Instalment Credit Protection (ICP), Reinsurance Business, Export Credit Insurance on behalf of the Dutch State and services like Collections and Business Information Services.
[edit] Shareholders
- Grupo CyC
Grupo Companía Española de Crédito y Caución, S.L., Madrid ( Spain) The most important shareholder of which is Grupo Catalana Occidente, S.A.
Schweizerische Rückversicherungs-Gesellschaft, Zurich (Switzerland)
Deutsche Bank AG, Frankfurt (Germany)
Betrados B.V., a subsidiary of Sal. Oppenheim jr. & Cie. KGaA, Cologne (Germany).
[edit] Management
The executive board, a distinct entity from the board of directors, includes:
[edit] Operations
Atradius insures approximately EUR 465 billion of world trade annually. With 3,900 staff and more than 160 offices in 40 countries, Atradius has access to credit information on 52 million companies world-wide and makes more than 22,000 credit limit decisions daily.[2]
Atradius has received financial strength ratings of "A" by Standard & Poors[4] and "A2" by Moody's[5].
[edit] See also
[edit] References
- ^ Sudip Kar-Gupta (2007-11-09). Credit insurer Euler Hermes Q3 net profit up 92 pct. Business > Banking & Financial > Article. Reuters. DOI:idUSWEA658520071109. Retrieved on 2007-11-30. “Euler Hermes has a 35.8 percent share of its market. The world's second biggest credit insurer by market share is Atradius of the Netherlands while the third biggest is France's Coface.”
- ^ a b Atradius (2007). Key Facts and Figures (html) (english). Atradius Website. Atradius. Retrieved on 2007-11-29.
- ^ Atradius (2007). History (html). Atradius Website. Atradius. Retrieved on 2007-11-29.
- ^ Standard & Poor's (2007-11-05). CREDIT OPINION: Standard & Poor's - Ratings Insurance (html). Standard & Poor's Ratings. Standard & Poor's. Retrieved on 2007-11-29. “Atradius Credit Insurance N.V. A/Stable/A-1 ICR”
- ^ moody's (2007-10-12). CREDIT OPINION: Atradius Credit Insurance NV (asp). Moody's Credit Opinion. moody's. DOI:2006200000424214. Retrieved on 2007-11-29. “Atradius Credit Insurance NV Moody's A2 insurance financial strength rating for Atradius Credit Insurance NV (ACINV, the main European insurance carrier), Atradius Trade Credit Insurance Inc. (the US carrier) and Atradius Re Ltd. (the reinsurance carrier of the group), reflect the core position of these units within the group as well as their strong competitive position in their respective credit insurance markets.”
[edit] External links
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