The world's second-largest credit insurer, Atradius Credit Insurance of the Netherlands, will soon begin selling insurance in Poland through a universal business license from the EU. This means that Atradius will not have to set up Polish operations, as a regional branch in Poland will suffice.
Since the company provided all necessary documents to the Polish market authorities on 18 June 2004, the company may start doing business within two months (it takes this long for the Polish Insurance and Pension Fund Supervisory Committee (KNUiFE) to process a licence).
Atradius, formerly Gerling NCM, is owned by Swiss Re and Deutsche Bank, companies that will also back Atradius’ Polish operations.
Atradius' two direct competitors, the German Euler Hermes, and the French Coface, have been present in Poland since 2003. The market is estimated to reach ZL270m (Ђ61m) by the year's end.
Source: Polish News Bulleti
