AMSTERDAM, June 10, 2014 /PRNewswire/ --
The International Credit Insurance & Surety Association (ICISA) today announced that Andreas Tesch, Chief Market Officer and member of the Atradius N.V. Management Board has been named President of ICISA. Founded in 1928 as the first trade credit insurance association, ICISA members today account for over 95% of the world's private credit insurance business.
Mr Tesch has been a member of the Atradius N.V. Management Board since 2011 and has 13 years of experience in Director roles with Atradius.
Mr Tesch described the recent credit insurance environment as moving into a more positive stage. "Insured exposure increased to a record Euro 2 trillion, confirming the improved outlook for trade and stabilizing claims environment. Compared to pre-crisis (2007) numbers, premium income of ICISA members is up 31% and insured exposure is up 15%."
Tesch concludes, "With insolvency rates flattening at relatively high levels or improving modestly and the global economy forecast to grow 2.9% in 2014 and 3.2% in 2015, this is an optimal time for businesses to build their credit insured sales. ICISA and its members have made substantial progress in recent years in building awareness of credit insurance and the value it contributes to the economy. There however are still significant gains to be made in awareness and usage among smaller and medium sized businesses. This continues to be one of the primary goals of ICISA and its members."
The Atradius Group provides trade credit insurance, surety and collections services worldwide and has a presence through more than 160 offices in 50 countries. Atradius has access to credit information on 100 million companies worldwide. Its products help protect companies throughout the world from payment risks associated with selling products and services on credit.
SOURCE Atradius N.V.