ATRADIUS enters Romanian and Bulgarian markets
Effective immediately, the two new locations are in the capital cities of Sofia and Bucharest, as the Amsterdam-based insurer announced in a statement.
"Bulgaria and Romania are among the most interesting growth markets in Europe and demonstrate great potential," explains Andreas TESCH, Chief Market Officer of ATRADIUS.
"In view of this, boosting our presence in these countries is the next logical step for our global expansion strategy."
The insurer pointed out that Romania's GDP has increased between 4 and 4.8% annually in recent years, which, "when compared to other EU member states, represents above-average economic growth for the country, home to 20 million people".
At present, the market volume of Romania's credit insurance industry amounts to around EUR 24 million, with an average rate of increase of currently 10% each year.
At the same time, the Bulgarian credit insurance industry's market volume, which currently sits at around EUR 6 million, "boasts a noteworthy growth rate of its own - a testament to the good potential an office in this region has".
"We want to offer our customers the best service with the greatest possible expertise in the most significant markets," explains Thomas LANGEN, Senior Regional Director for Germany, Central Europe and Eastern Europe at ATRADIUS.
"By opening the two new branches, we are not only strengthening our position in relation to local companies; it also puts us in a better position to accompany our international clients as they expand their operations in these markets."