eulerhermes.com - Press releases by Euler Hermes

World economy is walking a tight rope

Tue, 10 Jan 2012 17:00:00 +0100

World economy is walking a tight rope [more]

Euler Hermes successfully completed the simplification of its legal structure in Europe on January 1, 2012

Wed, 04 Jan 2012 16:30:00 +0100

On January 1, 2012, the world leader in credit insurance successfully completed the simplification of its legal structure in Europe by grouping thirteen of its former subsidiaries into one insurance company, Euler Hermes Europe, located in Brussels. [more]

Automobiles: braking sharply?

Thu, 08 Dec 2011 17:30:00 +0100

Automobiles: braking sharply? [more]

Is the automobile market pulling the brakes?

Thu, 08 Dec 2011 10:01:00 +0100

The world automobile market recovered its average annual growth rate of 4% to 5% in 2011 and is expected to remain on a positive trend in 2012, although growth will slow [more]

The green economy: How can growth be reconciled with reduced carbon emissions?

Tue, 15 Nov 2011 17:30:00 +0100

The green economy: How can growth be reconciled with reduced carbon emissions? [more]

Green economy holds out new opportunities for businesses

Tue, 15 Nov 2011 11:00:00 +0100

Green economy holds out new opportunities for businesses [more]

Euler Hermes’ results for the first nine months of 2011

Wed, 09 Nov 2011 16:30:00 +0100

In the first nine months of 2011, Euler Hermes posted excellent results, despite a highly uncertain economic environment. [more]

Management Appointments at Euler Hermes: Isabelle Delorme, Caroline Cimino

Mon, 07 Nov 2011 16:30:00 +0100

The Euler Hermes group has appointed Isabelle Delorme Head of Market Management and Caroline Cimino Head of Commercial Underwriting and Product Management [more]

Lasting crisis casts doubts on muted-recovery scenario for 2012

Thu, 20 Oct 2011 14:30:00 +0100

In a turbulent economic environment, Euler Hermes is forecasting a slowdown in world growth over the next 18 months [more]

Euler Hermes Further Integrates Operations in Europe

Mon, 26 Sep 2011 16:30:00 +0100

With the creation of Euler Hermes Europe, the group will offer its European clients a strong new risk carrier and improved customer service [more]

Euler Hermes Appoints Ludovic Subran Chief Economist

Mon, 26 Sep 2011 15:30:00 +0100

In his new role as Euler Hermes Chief Economist, Ludovic Subran will be heading the group’s economic research department, which analyses macro economic and sector trends, country risk, and corporate insolvencies, starting September 26, 2011 [more]

Frédéric Bizière is appointed member of Euler Hermes’ Board of Management in charge of Market Management, Commercial and Distribution

Fri, 16 Sep 2011 07:00:00 +0100

The Euler Hermes Group Supervisory Board appointed Frédéric Bizière a member of the Board of Management of the Euler Hermes Group as of 15 September 2011 [more]

Euler Hermes Appoints André-Louis de la Bruyère as CEO of its Collections Business

Mon, 05 Sep 2011 07:30:00 +0100

On September 1st, 2011 André-Louis de la Bruyère is taking up the position of Chief Executive Officer of Euler Hermes Collections, the trade debt collection entity of the Euler Hermes Group [more]

Euler Hermes’ solid AA- rating reaffirmed by Standard & Poor’s

Mon, 01 Aug 2011 15:30:00 +0100

Standard & Poor’s affirms Euler Hermes’ AA- rating with stable outlook based on the group’s leading market position, solid operating performance and strong capitalization. [more]

Euler Hermes’ results for the first half of 2011

Tue, 26 Jul 2011 15:30:00 +0100

During continued uncertain times, Euler Hermes produced outstanding results in the first semester 2011. The group posted a turnover of €1.127 billion, up 8.5% compared to the first semester 2010. Premiums alone are up 9.7% against last year and benefited from economic recovery, together with a sustained appetite for credit insurance reflected in its client retention rate which is on the rise for the third consecutive year. [more]

Mapfre and Euler Hermes join forces in the Iberian peninsula and Latin America

Tue, 19 Jul 2011 15:30:00 +0100

Mapfre and Euler Hermes have signed a memorandum of understanding to jointly develop their credit and bond insurance business. The agreement will apply in the Iberian and Latin American markets [more]

Despite a moderate decline in 2011-2012, number of corporate insolvencies to remain above pre-crisis levels

Wed, 15 Jun 2011 08:30:00 +0100

After record rises in the preceding two years, Euler Hermes’ Global Insolvencies Index dropped back by 5% in 2010. The downward trend in corporate insolvencies continues in 2011 but at a moderate pace and with marked differences from one country to another [more]

Construction: staggered exit from crisis in Europe and the United States

Tue, 07 Jun 2011 08:30:00 +0100

In an overall context of economic upturn, the situation of the construction sector differs from one country to another: recovery is underway in France, Germany and the United Kingdom, while difficulties persist in Italy, the United States and, above all, in Spain [more]

Euler Hermes Appoints Ozlem Ozuner CEO in Turkey

Mon, 30 May 2011 15:45:00 +0100

Starting June 1st, 2011 Ozlem Ozuner is taking up the position of Chief Executive Officer of the Turkish entity of Euler Hermes, the global leader in credit insurance [more]

Rebound in world trade in 2010 confirms the shift already underway before the crisis

Tue, 17 May 2011 13:52:00 +0100

Industrialised countries continue to dominate exports in several key sectors [more]

Euler Hermes’ results for the first quarter of 2011

Thu, 05 May 2011 15:30:00 +0100

The first quarter of 2011 confirmed an ongoing global economic recovery already observed in 2010. In this environment, Euler Hermes posted a €544 million Q1 2011 turnover, up 7.6% compared to Q1 2010. “The Group is confident that it will achieve continuous top line recovery throughout 2011 as retention is strong at over 90% and the outlook on insured turnover is positive”, declared Wilfried Verstraete, Chairman of the Euler Hermes Board of Management. [more]

The new risks of globalisation - A new approach to country risk

Thu, 28 Apr 2011 09:00:00 +0100

Following a return to growth in 2010 driven by the emerging economies, 2011 will see a lower rate of growth for the global economy and, in particular, for the developed nations [more]

Bruno Verhofstede appointed CEO of Euler Hermes Belgium

Wed, 30 Mar 2011 12:10:00 +0100

Press release Bruno Verhofstede appointed CEO of Euler Hermes Belgium [more]

Euler Hermes and China Pacific Insurance (Group) Co., Ltd team up to provide Chinese companies credit risk transfer solutions

Mon, 21 Mar 2011 16:30:00 +0100

Euler Hermes, the world’s leading credit insurer and member of the Allianz Group, and China Pacific Insurance (Group) Co., Ltd. (CPIC Group) have combined their expertise to help Chinese companies to better manage trade credit risks. [more]

Euler Hermes appoints CEO in China

Mon, 14 Mar 2011 11:30:00 +0100

Xi-Zhen Wang will take up the position of Chief Executive Officer of the China subsidiary of global credit insurance leader, Euler Hermes, on April 1, 2011. [more]

Euler Hermes launches a credit insurance company in Turkey

Wed, 09 Mar 2011 10:00:00 +0100

After five years operations through its parent company Allianz, the world leading credit insurer has now obtained its licence to operate in the Turkish market as an insurance company. [more]

Client Interview

Tue, 08 Mar 2011 09:30:00 +0100

[more]

Pharmaceuticals: an industry on the defensive

Thu, 24 Feb 2011 08:30:00 +0100

The pharmaceuticals sector escaped relatively unscathed from the 2008-2009 crisis, as healthcare spending in developed economies continued to rise over this period. However, certain factors now cast a different light on the growth and profitability outlook for this sector [more]

Euler Hermes’ 2010 results

Fri, 11 Feb 2011 16:30:00 +0100

Turnover increased for the fourth consecutive quarter to €567 million showing a 4.6% growth towards Q3 2010 (€542 million). Q4 2010 turnover grew by 16% compared to Q4 2009, when turnover was at its lowest during the crisis. For year 2010, turnover reached €2,147.7 million growing by 3% compared to 2009. 2010 net result amounts to €294 million [more]

Although threatened, the global economic recovery is likely to win through - Corporate insolvencies will continue to decline in 2011

Wed, 15 Dec 2010 09:00:00 +0100

Credit insurer Euler Hermes expects the global economic recovery to be confirmed out to 2012. It will, however, remain very uneven from one geographic region to another in 2011, with a slight slowdown overall. [more]

How has the 2009 fall in air traffic affected players in the air industry?

Mon, 22 Nov 2010 10:00:00 +0100

The 4% drop in air traffic in 2009 as a result of the economic crisis had little effect on the aircraft industry’s level of activity, given its well-filled order books. [more]

SMEs in both France and Italy have withstood the crisis by adapting their costs more quickly than in previous downturns

Tue, 16 Nov 2010 10:00:00 +0100

Euler Hermes has analysed the impact of the economic and financial crisis on European SMEs using its database of 2008 and 2009 balance sheets for French and Italian companies [more]

Euler Hermes’ results for the first nine months of 2010: Turnover: €1,581 million, Technical result: €256 million, Operating income: €359 million, Net income: €256 million

Thu, 04 Nov 2010 16:30:00 +0100

“Turnover recovery is confirmed in Q3 2010 as Euler Hermes achieved a quarterly turnover of 542 M€ after 533 M€ in the second quarter and 505 M€ in the first. Q3 2010 turnover grew by 5.8% compared to Q3 2009. For the first nine months of the year, turnover reached €1,581 million, gaining momentum towards 2009 as gross earned premiums showed again a positive growth of 1% towards the first nine months of 2009 [more]

The crisis is durably reshaping the global landscape of the automobile sector

Fri, 24 Sep 2010 08:30:00 +0100

With a few days to go before the start of the 2010 Paris Motor Show, Euler Hermes offers its analysis of the world automobile market. [more]

Standard & Poor’s reconfirms Euler Hermes’ AA- rating

Wed, 04 Aug 2010 12:30:00 +0100

In a report published on July 29, Standard & Poor’s confirms Euler Hermes’ AA- rating with a stable outlook reflecting the Euler Hermes group’s very strong competitive position, long-term financial flexibility and solid operating performance over the cycle [more]

Euler Hermes’ results for the first half of 2010

Thu, 29 Jul 2010 15:30:00 +0100

Although the economic recovery remains fragile, Euler Hermes’ turnover grew by 5.0% quarter-on-quarter in the second quarter of 2010, reaching €1.039 billion for the six months to the end of June. At the same time, the group continued to reap the benefits of the action plans implemented. [more]

Euler Hermes Begins Operations in Chile

Thu, 22 Jul 2010 09:00:00 +0100

Euler Hermes, the worldwide leader in trade credit insurance, has announced the opening of its newest Latin American subsidiary in Chile [more]

Catherine Zeller joins Euler Hermes as Head of Group Legal and as Corporate Secretary

Mon, 19 Jul 2010 09:00:00 +0100

On July 19, Catherine Zeller joined leading global credit insurer, Euler Hermes, as Head of Group Legal and as Corporate Secretary [more]

Euler Hermes Wins “Best Export Credit Agency” Award for the 6th Time

Thu, 15 Jul 2010 15:30:00 +0100

Euler Hermes, the worldwide leader in credit insurance, has again been rewarded “Best Export Credit Agency Europe 2010” by the British Trade Finance Magazine based on an annual survey among 15,000 readers. [more]

Euler Hermes enhances its political and trade risk cover

Tue, 06 Jul 2010 15:45:00 +0100

Euler Hermes enhances its political and trade risk cover [more]

Global economic recovery is already under pressure

Mon, 28 Jun 2010 13:00:00 +0100

Global economic recovery is already under pressure [more]

José Maria Cadenas is appointed CEO of Euler Hermes Spain

Thu, 27 May 2010 15:30:00 +0100

José Maria Cadenas will take up the position of Chief Executive Officer of the Spanish subsidiary of global credit insurance leader, Euler Hermes, on June 1, 2010. [more]

New members are appointed to the Supervisory Board of Euler Hermes

Fri, 21 May 2010 15:30:00 +0100

The shareholders of Euler Hermes appointed five new members to the Supervisory Board of the group on 21 May 2010. [more]

Brazil, India and China: the new leaders of the global economy for at least the next five years

Thu, 20 May 2010 09:00:00 +0100

Having displayed extraordinary resilience to the global crisis, China, India and Brazil are about to experience an economic success that is set to last at least five years. According to Wilfried Verstraete [more]

Euler Hermes results for the first quarter of 2010

Fri, 07 May 2010 15:30:00 +0100

Despite the fragile economic recovery Euler Hermes posted a quarter on quarter increase in turnover of 3.5% compared to the fourth quarter of 2009. The group achieved a positive net income development of €47.6 million versus €16.5 million for the first quarter of 2009 [more]

Jules Kappeler is appointed Managing Director of Euler Hermes Switzerland

Wed, 05 May 2010 08:00:00 +0100

Jules Kappeler has taken up the position of Managing Director of the Swiss subsidiary of global credit insurance leader, Euler Hermes, on May 1, 2010 [more]

World economy: New sources of growth are slow to emerge; risks and uncertainties persist

Thu, 15 Apr 2010 09:00:00 +0100

The global economic rebound since the spring of 2009 has not neutralised the impact of the historic recession suffered by developed countries. In particular, the weight of OECD countries in global industrial output and trade has receded by several percentage points. The present rebound is very uneven and artificially boosted by significant but temporary support factors [more]

HSBC and Euler Hermes join forces to support UK exporters

Mon, 12 Apr 2010 08:10:00 +0100

HSBC Commercial Banking and Euler Hermes, the world’s leading credit insurer, have announced that they will begin working together from 1 April 2010 to support HSBC Invoice Finance’s service to UK exporters. [more]

Euler Hermes annual financial results 2009

Wed, 17 Feb 2010 16:30:00 +0100

In a still-difficult economic environment, in 2009 Euler Hermes achieved turnover of €2,085.7 million, down 3.7% from 2008. The end of the downturn combined with the effectiveness of the actions carried out enabled the group to achieve net income of €19.0 million, down 77.3% [more]

Appointments at Euler Hermes

Mon, 18 Jan 2010 16:30:00 +0100

As part of its new integrated organisation, Euler Hermes has set up a Market Management, Marketing, Commercial & Distribution division overseen by Michel Mollard, member of the Euler Hermes Group Management Board. Three Executive Directors have been appointed [more]

Dirk Oevermann is appointed member of Euler Hermes’ Board of Management, in charge of Operations and IT

Thu, 03 Dec 2009 07:30:00 +0100

The Euler Hermes Group Supervisory Board appointed Dirk Oevermann a member of the Board of Management of the Euler Hermes Group as of 1st February 2010. Dirk Oevermann will be in charge of Operations and IT [more]

Global corporate insolvencies: after a black year in 2009, Euler Hermes expects corporate insolvencies to stabilise at a high level in 2010

Tue, 17 Nov 2009 10:00:00 +0100

The world’s leading credit insurer Euler Hermes is forecasting a 33% rise in corporate insolvencies worldwide in 2009. In 2008, half the global increase in insolvencies resulted from financial restrictions whereas in 2009 the main factor has been the economic recession [more]

Euler Hermes third quarter 2009 results

Mon, 09 Nov 2009 16:45:00 +0100

In spite of the rebound in the world economy during the third quarter of 2009, the crisis is far from over. The shock was indeed of unprecedented force, and companies’ health has been badly affected [more]

Clement B. Booth takes over from Jean-Philippe Thierry as Chairman of the Supervisory Board of Euler Hermes

Mon, 09 Nov 2009 16:30:00 +0100

As previously announced, Jean-Philippe Thierry will retire from AGF chairmanship and Allianz SE Board of Management on 31 December 2009. Within this context the Euler Hermes Supervisory Board which met earlier today, has appointed Clement B. Booth Chairman [more]

Bernd Lehmann is appointed Global Head of HR of Euler Hermes

Thu, 29 Oct 2009 14:44:00 +0100

Bernd Lehmann is appointed Global Head of Human Resources of the Euler Hermes Group, effective as of November 1st, 2009. [more]

Euler Hermes: new governance

Thu, 15 Oct 2009 15:30:00 +0100

Within the framework of the new organisation which will be implemented 1 January 2010 and in order to manage the group in a fully integrated way, the members of the Management Board of Euler Hermes decided to strengthen the group functions and to concentrate on them. Moreover six Heads of Region are appointed. [more]

Euler Hermes adopts a new, more integrated, organisation

Thu, 10 Sep 2009 15:30:00 +0100

Euler Hermes adopts a new, more closely integrated, organisation with the aim of better meeting clients’ needs and consolidating its world leadership in credit insurance [more]

Standard & Poor’s confirms Euler Hermes’ AA- rating

Tue, 18 Aug 2009 15:30:00 +0100

In a report published on July 29, Standard & Poor’s Ratings Services affirms its AA- rating with a stable outlook on Euler Hermes group reflecting its very strong position and financial flexibility and its prudent investment strategy [more]

Euler Hermes’ results for the first half of 2009

Tue, 28 Jul 2009 15:45:00 +0100

Economic conditions continued to deteriorate throughout the second quarter of 2009. Many companies’ sales contracted and their cash positions worsened, resulting in a significant increase in the number of corporate failures since the beginning of the year. [more]

U.S. Has Entered Economic Recovery Period

Tue, 21 Jul 2009 15:30:00 +0100

Following nearly 18 months of recession, the U.S. economy has entered its initial recovery period; however, as expected, the economic improvement is coming “in fits and starts” according to the Chief Economist for Euler Hermes in the Americas [more]

The future of global automobile demand to be shaped by mergers and alliances

Thu, 25 Jun 2009 15:30:00 +0100

A plunge in global demand and massive destocking are such that in future, the industry will need to find ways to share certain costs through tie-ups and alliances [more]

Post-crisis period expected to be marked by the resurgence of “country risk” and lower global economic growth than in the last decade

Fri, 05 Jun 2009 15:30:00 +0100

Number one credit insurer Euler Hermes assesses the impact of globalisation and considers its development post-crisis [more]

A remarkable acceleration in business insolvencies worldwide: +35% in 2009

Thu, 04 Jun 2009 15:30:00 +0100

Number one credit insurer Euler Hermes is forecasting a 35% increase in corporate worldwide insolvencies for 2009, after +27% in 2008. This dramatical rise is the consequence of the financial and economic crisis. [more]

France: Euler Hermes SFAC plays a leading role in the new CAP+ credit insurance top-up scheme and in communication with companies

Thu, 14 May 2009 15:30:00 +0100

French credit insurer Euler Hermes SFAC welcomes the agreement reached following the meeting with French prime minister François Fillon on 12 May 2009 [more]

Euler Hermes confirms its presence in Portugal

Thu, 14 May 2009 15:30:00 +0100

Euler Hermes took note of the Portuguese Prime minister’s statement regarding his government’s wish to make an offer to acquire Cosec [more]

Euler Hermes first quarter 2009 results: turnover up 4.1%, technical result negative by €11.1 million, net income of €16.5 million

Wed, 06 May 2009 15:45:00 +0100

The economic climate remained unfavourable in the first quarter of 2009. Therefore the number of claims was high and continued to depress group profitability, leading to a negative technical result of €11.1 million. However, solid financial income enabled Euler Hermes to record a net income of €16.5 million for the first quarter of 2009 [more]

Euler Hermes’ 2008 results: turnover grows by 3.2%, net income of €83.6 million

Tue, 17 Feb 2009 16:45:00 +0100

The severe economic crisis we are currently experiencing has resulted in a rise in payment defaults and corporate failures, resulting in an increase in the number and amounts of claims paid by Euler Hermes to its policyholders. [more]