ATRADIUS SIGNS DEAL WITH ALFA-STRAKHOVIE

Netherlands-based Atradius, the credit insurer that developed from the old Gerling NCM, has signed a co-operation deal with Russia-based Alfa Group under which insurer AlfaStrakhovnie will provide credit insurance in Russia to clients of Atradius. Atradius said that the plan also entailed extending the deal to providing credit insurance to AlfaStrakhovnie’s own customers in Russia. Atradius CEO Peter Ingenlath said that “we believe credit insurance in Russia can grow at about a 20% compound annual growth rate over the coming years”. Alfa Strakhovnie CEO Vladimir Skvortsov said that “in view of the high demand for credit insurance in Russia, we need a reliable partner providing insurance coverage, not only to [small to medium enterprises) but also to large corporate clients who need reinsurance protection abroad”.