Global credit insurer on Asian expansion trail (hktdc.com)


	(From right) InvestHK's Mike Rowse; Atradius Regional Director for Asia, Alun Sweeney; CEO of Atradius, Peter Ingenlath; and Commissioner of Insurance, Clement Cheung, at the opening ceremony

Global credit insurer Atradius officially recently announced the opening of its new regional headquarters in Hong Kong. The company currently also has offices in Tokyo, Shanghai, Mumbai and Singapore.

The CEO of Atradius, Peter Ingenlath, sees the opening as a major milestone in Atradius' planned expansion in Asia.

"Obtaining our operating license in Hong Kong enables us to fully maximise the value of our offering in Asia to our customers. We have selected Hong Kong as a strategic central location to develop and implement our plans for the region. Not only have we secured our Hong Kong license, but we also recently have begun a co-operation arrangement in the Chinese mainland on domestic credit insurance with China Continent Property and Casualty (CCIC)," he said.

The Regional Director for Asia, Alun Sweeney, added: "Our Hong Kong office will provide the same high level of underwriting and customer service skills as can be expected from any of the other more than 90 Atradius offices world-wide. The hub will not only operate in a commercial capacity; Risk Underwriters / Analysts will also be an integral part of the Asia team. As a result, we will be truly able to offer a full service to customers and brokers in the region."

According to Mr Sweeney, the company is currently considering other opportunities for growth in markets such as Korea, Taiwan, Thailand and Malaysia.

"We see Asia as one of the key regions for economic growth. Whilst China and India are leading the way, other markets in the region are growing significantly. Trade both within Asia and with other less well established markets is increasing all the time, and Atradius intends to be in the right places at the right time to help our customers maximise their trading potential," he added.

The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, said: "Hong Kong's rule of law, freely convertible currency, established financial mechanism, pool of talent from all over the world, plus its close proximity to the world's fastest developing economy, the Chinese mainland, have attracted many world class financial institutions."

Atradius is a leading credit insurer with total revenues of around EUR 1.3 billion and a 24 per cent share of the world credit insurance market. With 3,400 staff and more than 90 offices in 40 countries, Atradius has access to credit information on 45 million companies worldwide. Source:InvestHK