*********************************************************
Global credit insurer Atradius officially announced today (January 26) the opening of its new branch in Hong Kong, located in Central Plaza on Harbour Road, cementing its foothold in Asia.
The Hong Kong office will serve as the company's regional headquarters. Atradius currently also has offices in Tokyo, Shanghai, Mumbai and Singapore.
The CEO of Atradius, Mr Peter Ingenlath, sees the opening as a major milestone in Atradius' planned expansion in Asia. He said, "Obtaining our operating licence 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 licence, but we also recently have begun a co-operation arrangement in Mainland China on domestic credit insurance with China Continent Property and Casualty (CCIC)."
The Regional Director for Asia, Mr 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, Atradius will not be stopping there. As part of its strategy for development in Asia, the company is currently considering other opportunities for growth in the region. Markets such as Korea, Taiwan, Thailand and Malaysia offer potential opportunities for future development.
Mr Sweeney continued, "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."
The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, warmly welcomed the arrival of Atradius in Hong Kong. He said, "Since Hong Kong is both a premier regional financial hub and an expanding international financial centre, the city has been attracting many world class financial institutions like Atradius to set up their operations here. Our rule of law, freely convertible currency, established financial mechanism, pool of talent from all over the world, plus our close proximity to the world's fastest developing economy, Mainland China, enable companies based in Hong Kong to tap the numerous opportunities in the region. We wish Atradius every success in its business here and throughout Asia."
Atradius is a leading credit insurer with total revenues of around EUR 1.3 billion and a 24% share of the world credit insurance market. It insures approximately EUR 350 billion of world trade annually against non-payment and provides a comprehensive range of risk transfer, financing and trade receivables management services. With 3,400 staff and more than 90 offices in 40 countries, Atradius has access to credit information on 45 million companies worldwide and makes more than 12,000 credit limit decisions daily. It is "A" rated by Standard & Poor's (outlook stable) and A2 by Moody's (outlook stable). For more information, please visit the website at www.atradius.com.hk.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Friday, January 26, 2007
Issued at HKT 14:55
NNNN
