Amsterdam 30 May 2007 - Atradius N.V., a leading global credit insurer, and AlfaStrakhovanie, one of the largest insurers in Russia and part of Alfa Group that also comprises Alfa Bank, have signed a cooperation agreement whereby AlfaStrakhovanie will provide credit insurance in Russia to Atradius clients. Both Atradius and AlfaStrakhovanie envisage expanding the scope of the cooperation to providing credit insurance to AlfaStrakhovanie’s own customers in Russia .

Peter Ingenlath CEO of Atradius commented; “We believe credit insurance in Russia can grow at about a 20% compound annual growth rate over the coming years. AlfaStrakhovanie is one of the leading Russian insurers with a nationwide distribution network and solid growth potential. We believe they have the right combination of market access and desire to help drive growth in credit insurance in Russia . This cooperation agreement enables us to meet the insurance requirements of our existing clients and puts us in a strong position to build new business.”

“In view of the high demand for credit insurance in Russia we need a reliable partner providing insurance coverage not only to SMEs but also to large corporate clients who need re-insurance protection abroad. Co-operation with Atradius, one of the world leading credit insurers, enables us to provide clients with credit insurance products up to the best international standards fully conforming to Russian legislation“, – commented Vladimir Skvortsov CEO of AlfaStrakhovanie Insurance Group.

About Atradius: 
Atradius is a leading credit insurer with total revenues of around $1.7 billion and a 24% share of the world credit insurance market. It insures approximately $527 billion of world trade annually against non-payment and provides a comprehensive range of risk transfer, financing 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).  

Atradius Corporate Communications
Christine Gerryn 
Tel.: +31 20 553 2047
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Kathy Farley
Tel.: (410) 246-5584
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www.atradius.com 

About AlfaStrakhovanie:

AlfaStrakhovanie OJSC is among the top-5 insurance companies in Russia with consolidated authorized capital of EUR 70 million and total revenues of EUR 260 million in 2006. AlfaStrakhovanie is a part of Alfa-Group, one of the largest private financial and industrial consortia in Russia (including Alfa-Bank, TNK-BP, VympelKom, Megafon, Golden Telecom, X5 Retail Group). AlfaStrakhovanie is a full-service insurance company. Licenses for 98 types of insurance lines and products allow to provide customers with complete insurance protection. The company is granted with A++ top reliability rating by Expert RA rating agency.

www.alfastrah.ru