Atradius and AlfaStrakhovanie sign co-operation agreement for credit
insurance in Russia
Amsterdam, 30 May 2007 - Atradius N.V., a leading global credit
insurer, and AlfaStrakhovanie, one of the largest insurers in Russia
and part of Alfa Group that also comprises Alfa Bank, have signed a
co-operation agreement whereby AlfaStrakhovanie will provide credit
insurance in Russia to Atradius clients. Both Atradius and
AlfaStrakhovanie envisage expanding the scope of the co-operation to
providing credit insurance to AlfaStrakhovanie's own customers in
Russia.
Peter Ingenlath CEO of Atradius commented; "We believe credit
insurance in Russia can grow at about a 20% compound annual growth
rate over the coming years. AlfaStrakhovanie is one of the leading
Russian insurers with a nationwide distribution network and solid
growth potential. We believe they have the right combination of
market access and desire to help drive growth in credit insurance in
Russia. This co-operation agreement enables us to meet the insurance
requirements of our existing clients and puts us in a strong position
to build new business."
"In view of the high demand for credit insurance in Russia we need a
reliable partner providing insurance coverage not only to SMEs but
also to large corporate clients who need re-insurance protection
abroad. Co-operation with Atradius, one of the world leading credit
insurers, enables us to provide clients with credit insurance
products up to the best international standards fully conforming to
Russian legislation", - commented Vladimir Skvortsov CEO of
AlfaStrakhovanie Insurance Group.
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 400 billion of world trade annually
against non-payment and provides a comprehensive range of risk
transfer, financing and trade receivables management services. With
3,500 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).
About AlfaStrakhovanie:
AlfaStrakhovanie OJSC is among the top-5 insurance companies in
Russia with consolidated authorised capital of EUR 70 million and
total revenues of EUR 260 million in 2006. AlfaStrakhovanie is a part
of Alfa-Group, one of the largest private financial and industrial
consortia in Russia (including Alfa-Bank, TNK-BP, VympelKom, Megafon,
Golden Telecom, X5 Retail Group). AlfaStrakhovanie is a full-service
insurance company. Licenses for 98 types of insurance lines and
products allow to provide customers with complete insurance
protection. The company is granted with A++ top reliability rating by
Expert RA rating agency.
Further information:
Atradius Corporate Communications
Andrea Riedle
Pressesprecherin
Tel.: +49 221 2044 1433
E-Mail: andrea.riedle@atradius.com
www.atradius.de
If you are interested in credit insurance in Russia please contact:
Atradius Kreditversicherung AlfaStrakhovanie
Joachim Osinski Irina Alpatova
Tel.: +49 221 2044 5306 Tel.: +7 495 788 0999
E-mail: joachim.osinski@atradius.com E-mail:
alpatova@alfastrah.ru
www.atradius.com www.alfastrah.ru
The press release can be downloaded from the following link:
