Atradius receives credit insurance licence in Turkey
Global credit insurer sees increasing demand in fast-growing market
With the rapid expansion of the Turkish economy the number of companies that insure their trade debts is growing. Currently, the market penetration of credit insurance which is most established in Western Europe, is still low in Turkey.
Thomas Langen, Atradius Regional Director for Germany, Central and Eastern Europe says: “Turkey is one of the rising stars of the global economy. With its location between Europe, Asia and the Gulf States the country has been a trading hub for thousands of years. With an office in Istanbul, Atradius now wants to support Turkish and international companies entering new markets.”
Isidoro Unda, Chairman of the Board and CEO of Atradius N.V. says: “Starting to conduct business in Turkey soon is an important step in executing our global growth strategy. Atradius offers credit insurance services in 40 countries and thus plays an important role in insuring the growth of the world trade.”
Atradius services in Turkey are addressed to corporations and exporters, which aim at reducing the risk of payment delays or non-payment of trade debts.
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, collections 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).