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Paul-Henri Denieuil, Chairman of the Atradius Supervisory Board commented : "Since late last year we have been looking forward to Isidoro Unda joining and leading Atradius through the next phase in our development. He will deliver an important contribution to the operational integration of Crédito y Caución (CyC) into Atradius and to the envisaged IPO of the
company."
Mr Unda (54) has been with the leading Spanish credit insurer Crédito y Caución since 1988 and served as its Chief Executive Officer since 2001. He has been a member of the Atradius Supervisory Board since December 2003 and its Vice Chairman since 2006. He has stepped down from these positions in connection with his appointment as member of the Management Board. Mr Unda, who has a degree in law and economics from Deusto University in Bilbao (Spain), has worked in the financial and insurance sector for more than 20 years and has served on the Supervisory Boards of Inverseguros S.A. and Mutua Madrileña Automovilista.
Mr Unda added: "I am looking forward to further building, together with my colleagues in the Management Board and all staff, the leading credit insurance company by integrating CyC and Atradius. Jointly, both companies have an enormous potential to deliver value to the market."
Paul-Henri Denieuil concluded: "Following the resignation of our former CEO last October, Peter Ingenlath as acting CEO together with the Management Board has done an excellent job in maintaining our corporate focus and strengthening our operations across the globe. They have achieved very good financial results. On behalf of the Supervisory Board, I would like to thank them for the additional contributions they have made".
About Atradius
Atradius is a leading credit insurer with total revenues of around EUR 1.3 billion and a 24% share of the world credit insurance market. It insures approximately EUR 400 billion of world trade annually against non-payment and provides a comprehensive range of risk transfer, collections and trade receivables management services. With 3,500 staff and more than 90 offices in 40 countries, Atradius has access to credit information on 45 million companies world-wide and makes more than 12,000 credit limit decisions daily. It is "A" rated by Standard & Poor's (outlook stable) and A2 by Moody's (outlook stable).
About Crédito y Caución
For over 75 years, through its credit and surety insurances, Crédito y Caución has contributed to the growth of companies offering them protection from insolvency and non-payment risks derived from credit sales of goods and services. With total revenues around EUR 450 million and more than 70 offices, Crédito y Caución is the leading credit insurer in Spain. Furthermore, it ranks second in Portugal, being therefore leader in its sector in the Iberian Market. The company recently expanded into Brazil. The solvency is confirmed by the A and A2 Standard & Poor's and Moody's ratings, respectively.
www.atradius.com
www.creditoycaucion.com
company."
Mr Unda (54) has been with the leading Spanish credit insurer Crédito y Caución since 1988 and served as its Chief Executive Officer since 2001. He has been a member of the Atradius Supervisory Board since December 2003 and its Vice Chairman since 2006. He has stepped down from these positions in connection with his appointment as member of the Management Board. Mr Unda, who has a degree in law and economics from Deusto University in Bilbao (Spain), has worked in the financial and insurance sector for more than 20 years and has served on the Supervisory Boards of Inverseguros S.A. and Mutua Madrileña Automovilista.
Mr Unda added: "I am looking forward to further building, together with my colleagues in the Management Board and all staff, the leading credit insurance company by integrating CyC and Atradius. Jointly, both companies have an enormous potential to deliver value to the market."
Paul-Henri Denieuil concluded: "Following the resignation of our former CEO last October, Peter Ingenlath as acting CEO together with the Management Board has done an excellent job in maintaining our corporate focus and strengthening our operations across the globe. They have achieved very good financial results. On behalf of the Supervisory Board, I would like to thank them for the additional contributions they have made".
About Atradius
Atradius is a leading credit insurer with total revenues of around EUR 1.3 billion and a 24% share of the world credit insurance market. It insures approximately EUR 400 billion of world trade annually against non-payment and provides a comprehensive range of risk transfer, collections and trade receivables management services. With 3,500 staff and more than 90 offices in 40 countries, Atradius has access to credit information on 45 million companies world-wide and makes more than 12,000 credit limit decisions daily. It is "A" rated by Standard & Poor's (outlook stable) and A2 by Moody's (outlook stable).
About Crédito y Caución
For over 75 years, through its credit and surety insurances, Crédito y Caución has contributed to the growth of companies offering them protection from insolvency and non-payment risks derived from credit sales of goods and services. With total revenues around EUR 450 million and more than 70 offices, Crédito y Caución is the leading credit insurer in Spain. Furthermore, it ranks second in Portugal, being therefore leader in its sector in the Iberian Market. The company recently expanded into Brazil. The solvency is confirmed by the A and A2 Standard & Poor's and Moody's ratings, respectively.
www.atradius.com
www.creditoycaucion.com
