Atradius targets global expansion with new European operations

Dutch trade credit insurer Atradius has established new offices in Bulgaria and Romania to further expand its international presence.

The operations will be based in the capital cities of Sofia and Bucharest.

"Bulgaria and Romania are among the most interesting growth markets in Europe and demonstrate great potential," said 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."

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.

Thomas Langen, senior regional director for Germany, Central Europe and Eastern Europe at Atradius, said: "We want to offer our customers the best service with the greatest possible expertise in the most significant markets. 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."

The launch of branches in Bulgaria and Romania is part of Atradius’ global growth strategy. In 2016, Atradius expanded its reach in Asia with a new office in South Korea. The company also acquired 25 percent of the shares in the Credit Guarantee Insurance Corporation of Africa (CGIC), a leading trade credit insurer in Africa.

Atradius further strengthened its position with the full takeover of Graydon, a 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. Atradius Collections has also been operating in India and China since last year.

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