Credit insurer Atradius has been granted a licence to set up its domestic and export credit insurance operations in Turkey.
The new office will be based in Istanbul and will serve Turkish companies as well as local subsidiaries of internationally known companies.
Selda Eke has been appointed as the new country manager in Istanbul. Previously she worked for Aon Risk Services in Turkey, working in the area of risk management and business development of financial products and financial institutions.
As the Turkish economy continues to expand, more and more companies are looking to insure their trade debts. The actual amount of credit insurance business being conducted in Turkey is relatively low given the growing capacity for cover.
Thomas Langen, Atradius regional director for Germany, Central and Eastern Europe, remarks: “Turkey is one of the rising stars of the global economy. With its location between Europe, Asia and the Gulf States the country has been a trading hub for thousands of years. With an office in Istanbul, Atradius now wants to support Turkish and international companies entering new markets.”