The upward trend of the financial figures of Atradius Greece in Cyprus and its strategic goals for the local market, was mentioned by the Managing Director of the company, Mr. Gerasimos Tzeis, in the context of a corporate event entitled “Meet the Team”, organized on Thursday June 9, in Nicosia, for the associates and Insured of the insurance.
Mr. Gerasimos Tzeis and the management team of Atradius Greece, welcoming the guests of the event confirmed the strategic interest of the company for the Cypriot market, emphasizing that Atradius in Cyprus not only holds the position of market leader in credit insurance, but also with a particularly high share in the total of the local insurance production.
“What makes Atradius unique is the excellent chemistry of the team, the know-how and professionalism of its executives, whose sole purpose is excellent customer service,” said, among others, Mr. Gerasimos Tzeis, addressing the company’s guests.
During the event, the participants had the opportunity to meet up with the heads of departments of Atradius Greece and discuss the economic developments in Cyprus, Atradius forecasts for 2022, the effects of the Russia-Ukraine war on the local market and day-to-day cooperation issues.
According to Atradius, the effects of the Russian-Ukrainian conflict on the Cypriot economy will be temporary, but it is expected that the country’s activity will be burdened beyond 2022 and 2023. In particular, the medium-term perspective is supported by structural reforms and the national plan. recovery and resilience, which will help to deal with the negative times of the geopolitical crisis as soon as possible and to ensure high growth rates.
It is recalled that, Atradius Greece achieved in 2021 an increase of its insurance revenues by 10% compared to 2020, an increase of its profits over 70%, with the combined ratio being lower than 65% and the retention rate of its portfolio (retention rate ) to exceed 96%. The company remained the market leader for Credit Insurance in Greece and Cyprus, with a market share of 49.6%.
Source: Capital
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