The Hong Kong Branch of global credit insurer Atradius received its operating licence recently, cementing its foothold in Asia with the opening of a new branch in Hong Kong, located in Central Plaza on Harbour Road.
The Hong Kong office will be the regional headquarters for Asia, where Atradius currently has offices in Tokyo, Shanghai and Mumbai. A new office in Singapore will open later in the year.
Peter Ingenlath, CEO of Atradius, sees the opening as a major milestone in Atradius’ planned expansion in Asia: “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 from which to springboard our plans for the region. Not only have we secured our Hong Kong licence, but we also commenced recently a co-operation in Mainland China on domestic credit insurance with China Continent Property and Casualty (CCIC). We now have a springboard to exploit in full the potential which this region offers.”
Alun Sweeney, regional director for Asia, adds: “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 worldwide. 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.”
As part of its strategy for development in Asia, Atradius is considering other opportunities for growth in the region. Markets such as Korea, Taiwan, Thailand and Malaysia offer potential opportunities for future development.
Sweeney continues: “We see Asia as one of the key regions for economic growth, and whilst China and India are leading the way, other markets in the region are growing significantly as well. Trade both within the region 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.”