ATRADIUS SIGNS DEAL FOR ASIAN EXPANSION

Netherlands-based credit insurer Atradius, formerly Gerling Credit Insurance Group but now owned by a group of Spanish, German and other European players, has signed a deal with China Continent P/C Insurance Co (CCIC) under which domestic credit insurance will be offered in China by CCIC to local Chinese companies as well as to existing Atradius customers on the mainland. Atradius CEO Wilfried Verstraete said that the move reinforced Atradius’s growth strategy in Asia. Atradius is providing the technical support and insurance knowledge to CCIC, which is issuing and managing credit insurance policies to companies domiciled in China, for domestic business.