Atradius to Advise, Support China Continent Property & Casualty Insurance on Domestic Credit Insurance Offering in China
BALTIMORE, Aug. 22 /PRNewswire/ -- Atradius Credit Insurance N.V. and China Continent Property & Casualty Insurance Co. Ltd. (CCIC) today formally announced the signing of a cooperative agreement in China. Under the cooperative, domestic credit insurance will be offered in China by CCIC to local Chinese companies as well as to existing Atradius customers with operations in Mainland China.
Wilfried Verstraete, CEO of Atradius, commented, "This cooperative reinforces our growth strategy for Asia. CCIC's desire to expand its offering to include domestic credit insurance and Atradius' desire to offer our clients a domestic credit insurance solution in China perfectly complement each other. This strategic partnership between Atradius and CCIC enables us both to fulfill these goals by jointly improving the services available to businesses operating in China."
Over the past few months, project teams from both parties have worked closely together to accomplish this milestone. Atradius will be providing technical support and know-how to CCIC to enable them to issue and manage credit insurance policies to companies domiciled in China for domestic business. As a result of this collaborative effort, the first policy under this cooperative has already been written.
Jiang Meng, President of CCIC said, "Through working with Atradius, CCIC will achieve greater success in the credit insurance field. The cooperation will provide a good platform for CCIC to foster its high-quality technical staff. CCIC will intensify cooperation with Atradius to provide its clients with the best protection and services. It is hoped that both parties will enjoy a win-win position through successful cooperation."
Notes to Editors:
About Atradius
Atradius is one of the world's largest credit insurers with total revenues of around $1.6 billion and a world market share of 24 percent. Annually the company insures business valued at about $450 billion against the risk of non- payment and offers a number of products varying from credit insurance to collections.
With more than 80 years experience, 3,400 employees and more than 90 offices in 40 countries, Atradius has access to credit information on more than 45 million companies world-wide and makes 12,000 credit limit decisions every day. Atradius has an 'A' rating from Standard & Poor's (outlook stable) and an 'A2' rating from Moody's (outlook stable).
In China, Atradius has a company based in Shanghai under the name Atradius Credit Information Consulting (Shanghai) Co., Ltd.
More information can be found at http://www.atradius.com .
About China Continent
China Continent is the 6th largest insurance company in China. Its headquarters are in Shanghai with 29 branches across the main provinces and cities, and 110 sub-branches that provide national coverage within China. China Re is its majority shareholder with 60%.
More information can be found at http://www.ccic-net.com.cn .
Atradius Credit Insurance N.V.
Web site: http://www.atradius.com/
http://www.ccic-net.com.cn/
BALTIMORE, Aug. 22 /PRNewswire/ -- Atradius Credit Insurance N.V. and China Continent Property & Casualty Insurance Co. Ltd. (CCIC) today formally announced the signing of a cooperative agreement in China. Under the cooperative, domestic credit insurance will be offered in China by CCIC to local Chinese companies as well as to existing Atradius customers with operations in Mainland China.
Wilfried Verstraete, CEO of Atradius, commented, "This cooperative reinforces our growth strategy for Asia. CCIC's desire to expand its offering to include domestic credit insurance and Atradius' desire to offer our clients a domestic credit insurance solution in China perfectly complement each other. This strategic partnership between Atradius and CCIC enables us both to fulfill these goals by jointly improving the services available to businesses operating in China."
Over the past few months, project teams from both parties have worked closely together to accomplish this milestone. Atradius will be providing technical support and know-how to CCIC to enable them to issue and manage credit insurance policies to companies domiciled in China for domestic business. As a result of this collaborative effort, the first policy under this cooperative has already been written.
Jiang Meng, President of CCIC said, "Through working with Atradius, CCIC will achieve greater success in the credit insurance field. The cooperation will provide a good platform for CCIC to foster its high-quality technical staff. CCIC will intensify cooperation with Atradius to provide its clients with the best protection and services. It is hoped that both parties will enjoy a win-win position through successful cooperation."
Notes to Editors:
About Atradius
Atradius is one of the world's largest credit insurers with total revenues of around $1.6 billion and a world market share of 24 percent. Annually the company insures business valued at about $450 billion against the risk of non- payment and offers a number of products varying from credit insurance to collections.
With more than 80 years experience, 3,400 employees and more than 90 offices in 40 countries, Atradius has access to credit information on more than 45 million companies world-wide and makes 12,000 credit limit decisions every day. Atradius has an 'A' rating from Standard & Poor's (outlook stable) and an 'A2' rating from Moody's (outlook stable).
In China, Atradius has a company based in Shanghai under the name Atradius Credit Information Consulting (Shanghai) Co., Ltd.
More information can be found at http://www.atradius.com .
About China Continent
China Continent is the 6th largest insurance company in China. Its headquarters are in Shanghai with 29 branches across the main provinces and cities, and 110 sub-branches that provide national coverage within China. China Re is its majority shareholder with 60%.
More information can be found at http://www.ccic-net.com.cn .
Atradius Credit Insurance N.V.
Web site: http://www.atradius.com/
http://www.ccic-net.com.cn/