Global credit insurer Atradius has extended its pan-Asian partnership with Tokio Marine Asia (TM Asia), which now enables policies to be issued locally in Indonesia, Malaysia, Vietnam and the Philippines by TM Asia affiliated insurance companies.
As a result of this extended agreement, businesses trading in these four Asian markets or where multinationals have subsidiaries located in any of these countries can now be protected by locally issued policies, enabling Atradius and TM Asia to not only meet growing demand for protection of trade receivables, but also enhance their support for joint customers.
This co-operation agreement with TM Asia also allows greater flexibility for trade credit insurance cover as these key markets continue developing their domestic and export business.
This new agreement is the latest development in Atradius’ long standing presence in Asia, with the company underwriting risks in the region for more than 50 years through its highly experienced risk services team.
Within Asia, Atradius now offers credit insurance, either directly or via a partner, in Hong Kong, Singapore, China, Japan, India, Thailand, Taiwan, Indonesia, Malaysia, Vietnam, and the Philippines and experienced average year-on-year growth in Asia of more than 25%, since 2007.
Atradius regional director for Asia Eric den Boogert said with the extension of the co-operation agreement to include these four fast growing economies with a combined population of 450m, the frim now have local capabilities in virtually every major market in the region.