ATRADIUS RE GRANTED FIRST LICENCE UNDER NEW EU REGULATION

Atradius Re, headquartered in Dublin, has staked its claim as the first credit reinsurance company to be granted a licence under Europe’s new reinsurance regulations, which came into effect yesterday allowing reinsurers to operate across Europe using a single passport under the supervision of the home regulator. The company said authorisation from the Irish Financial Regulator was part of its strategy to operate a single regulated entity for its reinsurance business. Commenting on its decision to choose Ireland as its home state Mark Bonham, Atradius Re’s chief operating officer, said the country “offers the best regulatory, financial and market structure” for its business.