AMSTERDAM, June 18, 2015 /PRNewswire/ --
- Demand for trade credit insurance rose in 2014
The members of the International Credit Insurance & Surety Association (ICISA) re-elected Andreas Tesch, Chief Market Officer of Atradius N.V., to the position of President of ICISA for 2015 / 2016.
In 2014 trade credit premiums of ICISA members increased 2.95% while insured exposure grew 11.9%. (ICISA members account for 95% of trade credit insurance worldwide.)
Mr. Tesch noted, "The drop in average premium rate demonstrates the fiercely competitive environment ICISA trade credit insurance members operate in. However members' results continue to improve and exceed pre-crisis levels, with 34.6% higher premium income and 29.1% higher insured exposure."
Tesch continued, "An increasing number of companies, including a growing number of SMEs, recognize the benefits of the product as more than an insurance product. It facilitates access to bank finance and provides them with business relevant market knowledge helping them avoid large losses."
Atradius provides trade credit insurance, surety and collections services worldwide through a strategic presence in 50 countries. Atradius has access to credit information on 200 million companies worldwide. Its credit insurance, bonding and collections products help protect companies throughout the world from payment risks associated with selling products and services on trade credit. Atradius forms part of Grupo Catalana Occidente (GCO.MC), one of the leading insurers in Spain and worldwide in credit insurance.
SOURCE Atradius N.V.