Atradius Announces Strong Earnings

PR59787

AMSTERDAM, Mar. 11 / PRN=KYODO JBN / --

- Significant improvement in revenue growth and claims

Highlights:

- Written premium rose 6.5% to EUR 1,497.6 million, increasing in Western

Europe and showing good growth in developing markets

- Insurance revenue rose 3.3% to EUR 1,573.4 million

- Gross insurance result (before reinsurance) improved 27.1% in 2014 to EUR

357.5 million

- Net profit: EUR 161.2 million, up 19.8%, with a major contribution from its

Spanish operations

- Combined ratio: 77.3%, improvement of 4.2 percentage points

- Shareholders' equity: EUR 1,393 million, up 8.25%

Isidoro Unda, CEO of Atradius commented, "Sustainable performance is essential

to our success and to the success of our customers. In 2014 we focused on

developing and introducing new tools to ensure our customers receive the best

possible service and risk management support. We are providing customers with

more information and in many cases expanded coverage. This has resulted in

another year leading the market with high customer satisfaction and retention."

Insurance revenues

Written premium stood out growing 6.5% to EUR 1,497.6 million, increasing in

Western Europe and showing good growth in new markets. Insurance revenue grew

at a solid pace increasing 3.3% to EUR 1,573.4 million. Special products and

Reinsurance revenues also showed improvement. Atradius continued to expand its

underwriting capacity and presence with new offices in Russia, Thailand and

Indonesia.

Insurance result

The gross insurance result improved 27.1% in 2014 to EUR 357.5 million and, the

net insurance result rose 41.0% to EUR 201.6 million. Atradius' gross combined

ratio improved from 81.5% to 77.3% largely reflecting significant improvement

in claims in its Spanish operations.

Non insurance results

The service result, with EUR 4.1 million, contributed less than in 2013 due to

the benign claims environment. Net investment result improved 7.9% to EUR 37.8

million in 2014.

Outlook

In 2015, Atradius plans on reaching out to businesses in new ways by

introducing best practices experienced across the organisation in additional

markets. Improved online access is planned for SME businesses to ease the

account opening and management processes.

Isidoro Unda summarizes, "Our customers are our highest priority. We strive to

provide them the best possible service to help them manage their receivables

and expand their businesses. This means providing valuable information,

efficient tools, local support in their international markets and most of all

the cover that reduces their exposure to payment failures of their customers.

Despite some modest improvement in insolvencies, the business environment in

2015 is looking as risky as it has over the last two years. The weakening Asian

economy, uncertainty around Greece, some big international business failures

and the depreciation of the Euro are creating new challenges for businesses

across the globe."

About Atradius  

Atradius provides trade credit insurance, surety and collections services

worldwide through a strategic presence in 50 countries. Atradius has access to

credit information on 200 million companies worldwide. Its credit insurance,

bonding and collections products help protect companies throughout the world

from payment risks associated with selling products and services on trade

credit. Atradius forms part of Grupo Catalana Occidente (GCO.MC), one of the

leading insurers in Spain and worldwide in credit insurance.

For further information:

Atradius Corporate Communications

Christine Gerryn

Tel.: +31-20-553-2047

E-mail: christine.gerryn@atradius.com

http://www.atradius.com

Source: Atradius N.V.