Atradius Announces Strong Revenue and Profit Growth in 2015

PR63706

AMSTERDAM, Mar. 8 /PRNewswire=KYODO JBN/ --

    Highlights

    - Total revenues rose 5.6% to EUR 1,717.8 million; strong growth worldwide

    - Service & other revenue rose 6.9% to EUR 180.8 million; service result

      up 93.4%

    - Net insurance result improved 8.0% in 2015 to EUR 217.7 million

    - Net profit grew 10.6% to EUR 178.2 million

    - Gross combined ratio stands at 80.6%*

    - Shareholders' equity rose 7.7% to EUR 1,500 million

    Insurance revenues

    Total revenues rose 5.6% to EUR 1,717.8 million. Earned premium again

improved at a good pace growing 5.4% to EUR 1,537.0 million. Atradius achieved

solid growth in all regions, except the Nordic region, which was impacted by

energy prices and reduced demand for exports. Overall, insurance revenues in

Europe grew 3.4%. Insurance revenues in Atradius' two largest markets, Spain

and Germany, grew 2.5% and 3.2% respectively. Excluding these two markets,

Atradius insurance revenues grew 6.6%.

    (Logo: http://photos.prnewswire.com/prnh/20150513/743985 )

    Insurance result

    The claims ratio ended at a solid 43.5% and the gross insurance result of

EUR 320.6 million in 2015 compared to EUR 357.5 million in 2014. The net

insurance result rose 8.0% to EUR 217.7 million in 2015, up from EUR 201.6

million in 2014.

    Non insurance results

    The service result, grew 93.4% increasing to EUR 8.0 million in 2015 from

EUR 4.1 million in 2014. Net investment result was lower at EUR 36.0 million

compared to EUR 37.8 million in 2014.

    Solvency II

    Grupo Catalana Occidente (GCO), as parent company of Atradius, has formally

submitted the partial internal model for credit and surety line of business for

approval to the College of Supervisors. Under both the Solvency II standard

formula and the internal capital model, subject to regulatory approval,

Atradius' regulated entities are well capitalised.

    Outlook

    Business conditions in 2016 are expected to remain challenging. In emerging

economies economic growth is expected to remain under pressure led by the

slowing Chinese economy and low commodity prices. In Europe, the slow Eurozone

recovery is expected to persist. The solid improvement in the US and the UK

should continue. Atradius plans on continuing to pursue new and innovative ways

of improving its offering from a product and service perspective and optimising

its corporate structure to improve efficiency.

    Isidoro Unda, Chief Executive Officer of Atradius summarises, "Our

customers are our priority. We are committed to delivering them high quality

service and supporting their trade by helping protect their receivables against

payment defaults. Every day, we want to make a difference in their businesses.

This means providing valuable information, efficient tools, local tailor-made

support in their international markets and cover that reduces their exposure to

payment failures of their buyers. However we always want to become better and

will continue to try and improve in 2016 and the years to come."

    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.

    * The combined ratio is calculated using the general insurance standard;

the sum of claims and expenses divided by insurance revenue

    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.