Credit insurer Atradius further expands their international presence with two new locations in Bulgaria and Romania. Effective immediately, the company will be consulting its clients and business partners in the capital cities of Sofia and Bucharest. Atradius is the second largest provider of credit insurance in the world, providing companies with protection in the event their customers delay or default on payments.
"Bulgaria and Romania are among the most interesting growth markets in Europe and demonstrate great potential," explains Andreas Tesch, Chief Market Officer of Atradius. "In view of this, boosting our presence in these countries is the next logical step for our global expansion strategy."
Romania's gross domestic product has increased between 4 and 4.8 percent annually in recent years, which, when compared to other European Union member states, represents above-average economic growth for the country, home to 20 million people. At present, the market volume of Romania's credit insurance industry amounts to around 24 million euros, with an average rate of increase of currently 10 percent each year. The Bulgarian credit insurance industry's market volume, which currently sits at around six million euros, boasts a noteworthy growth rate of its own - a testament to the good potential an office in this region has.
"We want to offer our customers the best service with the greatest possible expertise in the most significant markets," explains Thomas Langen, Senior Regional Director for Germany, Central Europe and Eastern Europe at Atradius. "By opening the two new branches, we are not only strengthening our position in relation to local companies; it also puts us in a better position to accompany our international clients as they expand their operations in these markets."
Excellent credit insurance expertise in Bucharest and Sofia
Atradius now services clients and business partners in Romania and Bulgaria from their centrally located offices in Bucharest and Sofia. With modern and sustainable architecture, both of these locations provide ideal working conditions. Atradius will operate in these countries with a sales and account management team that has experience in credit insurance and is responsible for customer communications and support, as well as a risk analyst team, which will evaluate the default risk of Bulgarian and Romanian customers.
The launch of branches in Bulgaria and Romania is part of Atradius' global growth strategy, which aims to secure the best-possible service and high-level local expertise for the company's national and international clients.
In 2016, Atradius expanded its reach in Asia with a new office in South Korea. Boosting its presence in South Africa and other countries in the region, Atradius also acquired 25 percent of the shares in the Credit Guarantee Insurance Corporation of Africa Ltd (CGIC), a leading trade credit insurer in Africa.
Atradius further strengthened its position with the full takeover of Graydon, the leading credit information agency in the Netherlands, Belgium and Great Britain, as well as the acquisition of 80 percent of the shares of the Portuguese credit information agency Ignios. Moreover, Atradius Collections has also been operating in India and China since last year.
You can find more information online at http://www.atradius.com
Atradius is a global provider of credit insurance, suretyships and collection services, with a strategic presence in over 50 countries. It has access to the credit history of over 240 million companies worldwide. The credit insurance, bond and collection products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of Grupo Catalana Occidente (GCO.MC), one of the largest insurers in Spain and one of the largest credit insurers in the world. You can find more information online at http://www.atradius.com
For more information:
Atradius Corporate Communications
Source: Atradius N.V.