Atradius, the world's second largest credit insurer, has entered into a reinsurance treaty with New India Assurance. Under the terms of the treaty, Atradius will provide automatic reinsurance support to the Business Credit Shield cover provided to exporters and domestic trades. The treaty is the culmination of a two-and-a-half year relationship between the two partners.
Atradius has a 25% market share in credit insurance, second only to Germany's Euler, part of the Allianz group.
In 2001, New India entered into an alliance with Gerling (Atradius' predecessor) for technical and reinsurance support in providing credit insurance in India. Since then, the Gerling group has sold its credit insurance business to a consortium led by Swiss Re and Deutsche Bank.
