Atradius, one of the UK’s largest trade credit insurers, will give almost all employees a £1,600 payment this month to help support them through the cost of living crisis, it has revealed.

The insurer, which employs 426 people across the UK and Ireland and has its headquarters in Cardiff, will give the payment to all employees on the payroll including graduates, interns, and those on temporary contracts. In April 2022, the majority of Atradius also employees received between a 4.75% and 7.25% pay increase.

All staff members with the exception of Executive Managers will receive the payment, equating to 99% of its workforce.

Atradius says its management board made the decision in order to support its employees through the ongoing crisis, as inflation continues to rise, and people face record-high prices on essentials like fuel and energy.

The cost of living payment will be in addition to performance-based and inflationary-linked pay increases which are offered annually.

Stuart Ramsden, Regional Director in the UK and Ireland, says:

“The team at Atradius are on the frontlines helping our customers with navigating a turbulent economy amid the cost of living crisis. But we know that this is a challenging time for them, too.

“That’s why we’re supporting them and their families financially where we can, and we’ll be continuing to look for ways we can do this going forward such as our 50% price reduction staff restaurant in the UK Headquarters.

“I’d like to sincerely thank everyone for their hard work and team spirit during these times, and I hope this payment shows a token of my appreciation.”