Trade credit insurer enters Romanian market

Amsterdam-based firm Atradius, which provides trade credit insurance, has entered the Romanian market. It opened an office in the SkyTower building in the north of Bucharest, reports Profit.ro. The credit insurance provided by Atradius protects companies against losses stemming from the non-payment of commercial debt. The company will have a local service and sales team, as well as a risk analysis team that will assess the default risk of debtors. The Romanian credit insurance market currently has a volume of around EUR 24 million. The average growth rate amounts to 10% per year. Top competitors on this market segment include Coface and Euler Hermes. Simultaneously with its branch in Bucharest, Atradius inaugurated in Sofia its first branch in Bulgaria. The company had a turnover of RON 1.7 billion last year. editor@romania-insider.com (photo source: Group.atradius.com)