Euler Hermes
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| Société Anonyme (Euronext: ELE.PA) | |
| Founded | 2002 Euler Hermes 1917 Hermes 1893 ACI |
| Headquarters | Tour First 1, place des Saisons - 92048 La Défense Paris, France |
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Key people
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Axel Theis, chairman of Euler Hermes Supervisory Board (since May 25th, 2015); Wilfried Verstraete, chairman of Euler Hermes Board of Management (since April, 2010) |
| Products | Credit insurance, Reinsurance, Trade debt collection, Bonding |
| Revenue | € 2,569.9 million (2016) |
| € 376.8 million (2016) | |
| € 287 million (2016) | |
| Total assets | € 6,505.9 million (2015) |
| Total equity | € 2,622.4 million (2016) |
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Number of employees
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+5900 (2016) |
| Parent | Allianz |
| Divisions | Euler Hermes Americas; Euler Hermes Asia-Pacific; Euler Hermes Germany-Austria-Switzerland; Euler Hermes France; Euler Hermes Mediaterranean countries, Solunion |
| Website | http://www.eulerhermes.com |
Euler Hermes is a credit insurance company that offers a wide range of bonding, guarantees and collections services for the management of business-to-business trade receivables.
A subsidiary of Allianz SE, Euler Hermes is listed on ELE.PA and is rated AA- by Standard & Poor's. The Group posted a consolidated turnover of €2.569,9 billion in 2016. Euler Hermes employs +5,900 employees in over 50 countries and insured global business transactions for €890 billion in exposure at the end of 2015.
Trade credit insurance protects a business from non-payment of commercial debt. This service makes sure that invoices are paid and allows a supplier to reliably manage the commercial and political risks of trade. In short, the risks that are beyond the control of the supplier. Thereby, credit insurance indemnifies losses incurred from non-payment of commercial debt, the purpose being to help a business grow profitability.
Under bonding cover, Euler Hermes assumes liability for the beneficiary towards third parties for the most varied types of security (e.g. for obligations as a contractor under construction and supply contracts). Bonding is a guarantee for contractors and an alternative to bank bonding to safeguard liquidity. The bond or guarantee secures that the contractor will fulfil its obligations (or defects liability) under a contract. Euler Hermes provides a wide variety of surety bonds and guarantees which support customers in numerous industries for all sorts of obligations (e.g. contract performance bonds, custom bonds, infrastructure bonds, etc.). It issues a varied range of bonds on behalf of its clients around the world.
Collecting overdue payments is an integral part of the Euler Hermes offering. Debt collection helps companies maintaining and improving their cash flow. Euler Hermes has been offering international debt collection services as part of its credit insurance policies for decades. It handles 380,000 debt collection files in more than 130 countries. The company’s specialist teams are located all around the world. This integrated network stands unique in the world.
Through Fraud cover, Euler Hermes protects its clients against internal, external and cyber fraud.
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Wikipedia