United Kingdom Votes to Leave the European Union

Amsterdam (ots/PRNewswire) -

After weeks of speculation the future path for the United
Kingdom's relationship with the European Union is confirmed.

(Logo: http://photos.prnewswire.com/prnh/20150513/743985 )

In a poll turnout of 72%, the decision to leave the EU is
confirmed by a majority of 51.9%. Although the decision is reported
as momentous, in practical terms few things will change in the
immediate future. However, inevitably there will be impacts felt in
the UK and other member states.

A period of uncertainty is inevitable for the UK with the focus on
political stability in the light of the Prime Minister David
Cameron's announcement that he will step down from office before the
end of 2016.

Following the 'Brexit' decision, leading trade credit insurer
Atradius has released an economic briefing highlighting the key
sectors that are expected to be effected by the leave vote and
predicting that insolvencies may rise in the short-term, for example
in Ireland, the Netherlands and Belgium, due to close trade and
investment ties. However, it is anticipated that most other European
countries would see little impact.

For the UK, in anticipation of a potential leave vote, some impact
has already been felt with the depreciation of the British pound and
delayed investment in businesses and staff. Following the Brexit
decision UK GDP is expected to reduce by 1% to 3% in the next two
years. The structure of trade agreements over the coming two years
will determine the longer term impact.

An impact will also be felt elsewhere. For example for the
Netherlands foreign direct investment will be affected and for
Ireland and Norway export trade could be impacted. Further, the
Benelux countries and Ireland are expected to see increases in
insolvencies ranging from 1% to 3.5%. The change in insolvencies in
other European countries is expected to be negligible.

Andreas Tesch Chief Market Officer for Atradius said

"In the UK the economy had settled to a more moderate growth of
0.4% in the first quarter. However, the vote to leave has had an
immediate impact on the exchange rate against all primary currencies.
Whilst we acknowledge that trading treaties need to be addressed, in
the short term, businesses trading overseas will continue and benefit
from a lower exchange rate."

Alun Sweeney Country Director for Atradius UK & Ireland said:

"There will be no short term impact on our underwriting stance for
the UK market. When the emotion of the result subsides, it is
important to recognise that UK business will adapt and those with
strong management, executing a clear and well-funded strategy, will
continue to thrive. The UK continues to be open for business and so
do we. Businesses that choose to credit insure recognise that a
robust risk management strategy enables trade and we remain confident
that we can support our customers to grow their businesses, in the
domestic market, in Europe and in other markets around the world"

The Atradius Economic Briefing can be downloaded from:
atradius.com (https://group.atradius.com/home.html)

About Atradius

Atradius provides trade credit insurance, surety and collections
services worldwide through a strategic presence in 50 countries.
Atradius has access to credit information on 200 million companies
worldwide. Its credit insurance, bonding and collections products
help protect companies throughout the world from payment risks
associated with selling products and services on trade credit.
Atradius forms part of Grupo Catalana Occidente (GCO.MC), one of the
leading insurers in Spain and worldwide in credit insurance.

atradius.com (https://group.atradius.com/home.html)

ots Originaltext: Atradius N.V.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Atradius Corporate Communications
Christine Gerryn
Tel.: +31-20-553-2047
E-mail: christine.gerryn@atradius.com