Atradius Trade Credit Insurance IFS Upgraded by Moody’s

Atradius news

Moody’s Investors Service (“Moody’s”) today upgraded the Insurance Financial Strength (IFS) rating of Atradius and its operating subsidiaries to A2 from A3. Read Moody’s full release below:

The rating action reflects steady strengthening of Atradius' financial profile over the past five years, including strong and consistent profitability, strengthening capital adequacy and improvements in its risk management and reserving practices. In addition, Atradius has upheld its strong market position as the second largest global trade credit insurer, and continues to invest in defending and strengthening its market position.

In terms of profitability, Moody's stated that the group's combined ratio had remained consistently strong averaging approximately 79% over the past five years, in part driven by the strengthening of the Spanish economy, but also due to Atradius' improved cost efficiencies and stricter underwriting. Atradius was also able to avoid some of the recent losses that some of its peers experienced on their emerging markets exposures. Read Moody's full release here.

"It is extremely pleasing to see recognition of the hard work and dedication of our teams at all levels of the group. From sound capital, provisioning and reinsurance management at the top, to the efforts of our people on the ground. Our strong financial position makes Atradius an excellent risk partner and our unparalleled service makes us a first choice business partner," said David Huey, President – Regional Director of Atradius Trade Credit Insurance, Inc.

Disclaimer

The statements made herein are provided solely for general informational purposes and should not be relied upon for any purpose. Please refer to the actual policy or the relevant product or services agreement for the governing terms. Nothing herein should be construed to create any right, obligation, advice or responsibility on the part of Atradius, including any obligation to conduct due diligence of buyers or on your behalf. If Atradius does conduct due diligence on any buyer it is for its own underwriting purposes and not for the benefit of the insured or any other person. Additionally, in no event shall Atradius and its related, affiliated and subsidiary companies be liable for any direct, indirect, special, incidental, or consequential damages arising out of the use of the statements made information herein.