Alfastrakhovaniye Insurance Company acquires 100% of Atradius Rus Credit Insurance, rebrands it

MOSCOW. July 19 (Interfax) - Insurer Alfastrakhovaniye has completed the acquisition of 100% of Atradius Rus Credit Insurance LLC, which specializes in commercial credit insurance, Alfastrakhovaniye said.

Atradius Rus was founded as a subsidiary of Atradius, one of the leading credit insurers specializing in protecting businesses from the risks of non-payment on commercial loans [the main activity of Atradius Rus is receivables insurance]. Once the necessary corporate decisions are made, the company will operate independently under the Alfastrakhovaniye Commercial Credit brand, the acquiring company said in a statement.

Alfastrakhovaniye and Atradius have a long history of cooperation in credit insurance even before the creation of Atradius Rus in 2013.

"We see good prospects in the development of commercial credit insurance in our country and are very pleased to acquire a specialized player in this niche. We are confident that we will be able to achieve great results thanks to the strong and experienced team at Atradius Rus and the capabilities of Alfastrakhovaniye. We will try to keep what is best within the company, including its team, competencies and key business processes, and we expect that the deal will give a new impetus to the development of this market segment in Russia," Vladimir Skvortsov, CEO of Alfastrakhovaniye, said, commenting on the deal.