Euler Hermes

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Euler Hermes
Type Société Anonyme (EuronextELE.PA)
Founded 2002 (group), 1917 (Hermes), 1893 (ACI)
Headquarters Tour First 1, place des Saisons - 92048 La Défense Paris, France
Key people Clement Booth, chairman of Euler Hermes Supervisory Board (since Jan. 01, 2010); Wilfried Verstraete, chairman of Euler Hermes Board of Management (since April, 2010)
Products Credit insurance, Reinsurance, Trade debt collection, Bonding
Revenue

€ 2,486 million (2013)

Increase + 3.7% vs 2012
Net income

€ 313,7 million (2013)

Increase + 2.7% vs 2012
Employees + 6,000 (2013)
Parent Allianz
Divisions Euler Hermes Americas; Euler Hermes Asia-Pacific; Euler Hermes Germany-Austria-Switzerland; Euler Hermes France; Euler Hermes Mediaterranean countries, Africa and Middle-East; Euler Hermes Northern Europe; Euler Hermes World Agency; Solunion
Website http://www.eulerhermes.com

Euler Hermes is a global credit insurance company that also offers a large range of bonding, guarantees and collections services for the management of business-to-business trade receivables. Its credit intelligence network analyzes the financial stability of 40+ million businesses worldwide. It distributes its products and services through a network of direct agents, brokers, and banks and tracks companies in markets representing 92% of the world’s GDP.[1]

A subsidiary of Allianz SE, Euler Hermes is listed on ELE.PA and is rated AA- by Standard & Poor's.[2] The Group posted a consolidated turnover of €2.5 billion in 2013.[3] Euler Hermes employs 6,000+ employees in over 50 countries and insured global business transactions for €789 billion in exposure at the end of 2013.[4]

Euler Hermes in North America[edit]

Euler Hermes North America, the North American subsidiary of Euler Hermes was incorporated in 1893. It is the oldest and largest insurance carrier in North America exclusively writing receivables insurance and providing risk mitigation services. It is headquartered in Owings Mills, Maryland. Euler Hermes North America provides trade credit insurance policies covering both domestic and export trade in more than 200 countries.

One of the main spokespersons for Euler Hermes North America is Chief Economist Dan North.

Operations[edit]

The company has 54 subsidiaries throughout Europe, in France, Italy, Belgium, United Kingdom but also in the United States and Canada, including regional service hubs in New York City, Chicago, Atlanta, Los Angeles, Houston, Toronto and Montreal. It employs approximately 6,000 around the world, and insures over $600 billion in commercial transactions.

Euler Hermes covers global risk management on six continents, with risk and information specialists located in 54 countries. Euler Hermes has a database with proprietary information on more than 40 million companies worldwide, and provides coverage on shipments to 200 countries around the globe.

Awards[edit]

  • Best Trade Credit Insurance Brand in Middle East 2013 awarded by GLOBAL BRANDS MAGAZINE[5]
  • Best Private Insurer in Trade and Best Global Export Credit Agency 2013 voted by the industry at TRADE FINANCE AWARDS[6]
  • Best trade credit insurer 2013 awarded by GLOBAL FINANCE[7]

See also[edit]

Hermes cover, the German export credit guarantee scheme managed by Euler Hermes Kreditversicherungs-AG and PricewaterhouseCoopers Aktiengesellschaft

References[edit]

External links[edit]