AlfaInsurance Trade Credits (formerly Atradius Rus)

History

2023: Alfa Insurance bought Atradius Rus

On July 19, 2023, AlfaStrakhovanie announced the purchase of 100% of Atradius Rus Credit Insurance LLC, which specializes in trade credit insurance. The transaction is closed, its financial and other parameters are not disclosed.

According to the press service of AlfaStrakhovanie, after making appropriate corporate decisions, the acquired one will operate independently under the AlfaStrakhovanie Trade Loans brand.

AlfaInsurance announced the purchase of Atradius Rus

According to the source Businessman"" in the insurance market, what Alpha is going to do "fits into the concept of building competencies in a specific area." The transaction as a whole is in the logic of acquiring small specialized insurers to strengthen market positions in the relevant segments, says independent expert Andrei Barkhota. In his opinion, the actual transaction price may be in the range of 0.3-0.6 from the capital of Atradius Rus Credit Insurance.

Atradius Rus was founded as a subsidiary of Atradius, one of the leading credit insurers specializing in protecting businesses from the risks of non-payment of trade loans. AlfaStrakhovanie and Atradius have collaborated on credit insurance since 2013.

We see prospects in the development of trade loan insurance in our country and are very happy to acquire a specialized player in this niche. We are confident that we will be able to achieve high results thanks to the strong and experienced Atradius Rus team and the capabilities of AlfaStrakhovanie. We will try to maintain all the best in the company, including the team, competencies and key business processes, and we expect that the deal will give a new impetus to the development of this market segment in Russia, "said Vladimir Skvortsov, CEO of AlfaStrakhovanie, whose words are quoted by the company's press service.[1][2]

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