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SIBS International, Inc

Josh Demarr and Noelle Cole

March 22, 2017

Who we are

■ A global credit insurer is dedicated to helping our customers do business safely – wherever

they choose to trade.

■ Our aim is to support our customers' growth by strengthening their credit and cash

management.

■ We do this through a wide range of products and services, each designed to meet our

customers’ business needs, their trade sectors and the markets in which they trade in.

2Epic Aviation 2/16/17

Introduction to Atradius

Epic Aviation 2/16/17 3

■ A specialist credit insurer

■ 2nd largest credit insurer in the world

■ One IT platform worldwide

■ 90 years experience in the credit insurance industry

■ Revenue 2015 EUR 1.7 billion

■ Result 2014 EUR 178.2 million

■ Moody’s credit rating ‘A3’ (outlook stable)

■ A.M. Best credit rating ‘A’ (outlook stable)

■ Access to credit information on 200 million companies

worldwide

■ 3,300 dedicated employees worldwide

■ A presence in more than 51 countries


Atradius profile - we are where you are

■ 50 countries

■ 160 offices

■ 3,300 staff

■ 200 million companies

■ 1 worldwide database

We are where you are

■ Europe – Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland,France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Luxembourg, Liechtenstein,Lithuania, The Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Slovenia,Slovakia, Spain, Sweden, Switzerland, Turkey, United Kingdom

■ Americas – Argentina, Brazil, Canada, Colombia, Chile, Mexico, Peru, USA

■ Africa – South Africa

■ Asia - China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand, Vietnam

■ Middle East - Israel, Lebanon, Saudi Arabia, United Arab Emirates

■ Oceania - Australia, New Zealand


Our financial strength

It’s vital that we remain financially strong enough to meet every

possible challenge. We ensure that we are financially stable, despite

the often challenging economic environment. This is evident from our

ratings:

Credit ratings

■ A.M. Best – A excellent outlook stable

■ Moody’s – A3 outlook stable

To ensure that our accessible capital is more than enough to meet

our obligations, our excess solvency capital exceeds the required

levels: by EUR 786,3 million at year end 2015.


Our shareholders and ownership

Grupo Catalana Occidente is our main shareholder

Atradius N.V. is owned by Grupo Compañía Española de Crédito y Caución, S.L. (CyC) and

Grupo Catalana Occidente, S.A. (GCO). Grupo CyC is a holding company, 73.8% owned by

GCO.

GCO is listed on the Barcelona and Madrid stock exchanges and is the parent company of a

group of insurance companies. It has an 83.2% stake in Atradius N.V. of which 35.8% is direct

and 47.4% is indirect through Grupo CyC holding company.


INOC, S.A. operates as a holding company. The company was founded in 1957 and is based in Barcelona, Spain.

CCS – Consorcio de Compensación de Seguros

GES – Ges Seguros y Reaseguros

NAC – Nacional de Reaseguros

ESP – ESPAÑA, S.A., Compañía Nacional de Seguros

Strong shareholder base

9,9%

INOC, S.A.

Grupo Catalana Occidente, S.A.

Grupo Compañia Española Crédito y Caución, S.L.

Atradius N.V.

NAC ESPCCS GES

7,8% 5,0%3,5% 73,8%

35,8%64,2%

56,7%


Reinsurance panel

■ Atradius’ reinsurance panel consists of a well-diversified group of well-rated reinsurers. They

offer substantial reinsurance capacity and the ability to spread our risks broadly.

■ Atradius endorses the importance of sound corporate governance. Key elements of

independence, accountability and transparency, create a relationship of trust between

Atradius and all of its stakeholders such as employees, customers, suppliers, shareholders

and the general public.


1. Price

Establish harmonised premium rates and policy

conditions reflecting your group’s purchasing power:

■ Offering cost savings to existing insured business’s in

Japan

■ Encouraging participation of currently uninsured

companies in a group programme

■ Ensuring an attractive policy structure and wording that

works for your company worldwide

2. Cover

Maximum coverage to meet your current needs and

support future growth objectives:

■ Maximising your group leverage to deliver highest

levels of limit coverage

■ Supporting your risk management locally as well as

centrally.

3. Service

A simple and easily managed credit

insurance solution:

■ Including strong local Account

Management support your business.

■ With an insurer who can promote and

implement the credit insurance

programme on a global scale.

4. Management Information

A detailed online MI available to your

HQ on programme performance:

■ Including details on cover, aggregations,

evolving risks, claims and overdues


Understanding your Requirements

1. Maximum Coverage – meeting Your current needs and supporting future growth

objectives:

Including rapid and clear decision making

With empowered Underwriters who communicate clearly

With a clear and rapid escalation model if required

2. Highest quality service – with Risk and Policy experts at Your disposal:

Strong, centralised and empowered risk/policy management

Direct access to decision makers, both within and overseas

Including a simplified claims reporting process

3. Management Information – detailed online MI to monitor risk and programme

performance:

Including details on cover, aggregations, evolving risks, claims and overdues

Adding value to Your credit management process

4. Flexible Policy - that works for the evolving landscape of Your company:

Including easy integration of newly migrated entities

With a premium calculation that is flexible for the extraction of longs (if divested)

And policy conditions reflecting Your group’s purchasing power

11

Matching Your Ambitions – What You can expect from Atradius

Epic Aviation 2/16/17

Risk Management


Set underwriting strategies on all buyers/groups

Split on a country/trade sector basis, so that

individual risks are assessed with appropriate

sector/market knowledge

Two distinct underwriting teams having access to the same data

Local Buyer Underwriting Key Account Underwriting

Review all partial and zero decisions to ensure

the customer’s background / credit control

procedures / all relevant financials, have been

considered

Empowered to amend decisions

Risk Management

We underwrite to the maximum level of cover we feel

appropriate, on an individual Buyer / Group, having fully

analyzed the risk.

Tools:

Buyer visits / telephone conference calls

Customer background information / trading experience

Internal intelligence – Atradius Buyer Ratings

Management accounts / forecasts

Audited accounts – Companies House / international

equivalents

Ratings agencies: S&P, Moody’s, KMV

Agency reports – Graydon, D&B, ICP etc.


Country

Economic/political stability, reliability of information, trade sectors, previous claims experience in the market,

regular country reviews by Atradius economists

Trade sector

Previous claims experience, visits to customers/buyers, trade associations, sector trends, regular sector

reviews by Atradius economists

Terms of Payment

Policy terms, normal country & sector terms, use of securities - e.g. guarantees, Letters of Credit, Retention

of Title

Customer

Credit control, information systems, relationship with buyer, payment experience, claims history - loss ratio,

spread of risk

Buyer

Type of business, legal form, financial information, length established/reputation, previous payment

experience, group associations/common directorships.


Assessment of the Five Elements of Risk


Credit limit decision process

Key Account Underwriter has a linking role:

Close cooperation with you and understanding of your internal

processes

Maximize credit limit decisions

Provides clarity on credit limit decisions

Automatic

Underwriting

YES

Local Buyer

Underwriter

Key Account

Underwriter

CUSTOMER


Key Account Underwriting

Buyer

Customer

Risk assessment

Key Account

Underwriter

■ KAU has a linking role

■ Monitors risk appetite, speed of service

■ Close cooperation with customer and

knowledge of customers internal

processes

■ Optimize credit limit decisions


Credit limit decision process

Customer submits credit request

Automatic Underwriting

Buyer Underwriting

Key Account Underwriting


Risk Management – Risk Services Organization

… close to buyer

Risk Services

… close to customer

Buyer Underwriting:

“Single Ownership” principal

Underwriting strategies

Trade sector analysis

Buyer visits

Key Account Underwriting:

Customer and buyer related decisions

Limit review meetings

Account Management:

Customer Service

Policy related issues (contract, premium)

Customer information

Buyer

Underwriting

Special

Risk

Management

Key Account

Underwriting

Special Risk Management:

Securities/Pooling

Restructuring/Re-financing

Buyer visits

Recovery

Customer

Account

Management

Business Unit

Account

Management

Risk Management

Benefit from the inside track

Your Key Account Underwriter will gain an intricate

understanding of your organisation.

This understanding is applied to our approach with your buyers,

ensuring optimal coverage.

Special Risk Management (SRM) applies another level of risk

analysis, for the most delicate of risks. We’ll work with you to

maintain cover wherever possible.



Information used for our risk assessment

Customer information

From policy holder. Notification of non payment,

payment experience reports.

3rd Party Credit Reports

Credit agencies, Banks, Co-operation partners,

Rating KMV, Moody's, S&P, Chambers of

Commerce, Media, Fairs, Associations.

Buyer information

Buyer information Accounts, management

accounts, analyst reports, liquidity status.

Internal information

Delay in premium payment, debt collection,

Portfolio analysis.


Seeing more with Atradius Insights

“It’s the best tool available in the

industry”

Frederic Wittemans, Senior Director European Credit,

Ingram Micro

“It shows you what the risks are and at

the same time also what the

opportunities are”

Javier Gimeo, Credit Manager Philips

Atradius Collections

Atradius Collections is a leading, worldwide provider

of trade debt collections services. With extensive

knowledge of local jurisdictions Atradius Collections

are able to use the resources and worldwide

reputation to help customers collect outstanding

debts, maintain good buyer relations and avoid any

unnecessary legal recovery costs.

What Atradius Collections have to offer:

Leveraging the strength of the credit insurance market

Local knowledge, language and presence close to the

buyer

Local knowledge and presence in the markets

Over 90% of our current customers say they feel we

retain the relationship with their debtors for the future

Contribution to costs for insured debts

Online access to case activity 24/7, giving control and

visibility


What our customers say

“Atradius Global are for many years our global partner in credit insurance. We have a good relationship on multiple levels and appreciate

the transparency, leadership and expertise in the market.”

Javier Gimeno, Philips

--

“We are totally aligned with Atradius in the countries where we work with them. They understand our business and we really trust their

opinions (which we share almost all the time).”

Frederic Wittemans - Ingram Micro

--

“Our Account Managers have made our experiences of Atradius excellent ones. We have also had calls with Special Risk Underwriters

and Management when necessary. Risk appetite is also very good to date.”

Sarah Jenion, Penguin Random House


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