In 2015 the Group strengthened its Latin America presence through its joint venture Solunion with the scheduled Launch of operations in Panama, Peru and Uruguay. New growth opportunities created with the opening of offices in Bulgaria and South Africa. Five new bank distribution partnerships were created with Al Hilal Takaful (Abu Dhabi), Arkéa Banque Entreprises et Institutionnels (France), Allied Irish Banks (Ireland), Banco do Brazil (Brazil) and Unicredit (Italy). Customer service launches included: “EH Fraud Cover” in France, an insurance policy against company fraud risk and “Euler Hermes Energy” in the US, risk management solutions for the energy industry. To optimize efficiency and productivity, the Claims and Collections services were combined. 2015 was also marked by the launch of the Euler Hermes Digital Agency, an in-house structure, which aims to accelerate Euler Hermes’ digital transformation. Once again the Group was recognized by industry awards
The Group completes global legal restructuring, merging French and German legal entities into Euler Hermes SA. New distribution partnerships: HSBC US & Malaysia, Bpifrance, BNP Paribas for France. Solunion expands operations to Chile, Columbia, Mexico. EH Smartview online risk monitoring launch.
Official launch of Solunion, the joint venture between Euler Hermes and MAPFRE. This year, Euler Hermes also increased its equity interest in ICIC, the Israeli credit insurance specialist, to 50%. Euler Hermes also forged an innovative global distribution partnership in credit insurance with HSBC. Euler Hermes' expertise was rewarded by industry awards around the world.
Euler Hermes and MAPFRE commit to launch Solunion joint venture in Spain and Latin America in 2013. CEO appointments strengthen Asia Pacific and Gulf Cooperation Countries (GCC) capabilities. Excess of Loss (XoL) launch completes product range.
Legal restructuring project "Blue Europe" merges 13 separate Euler Hermes units under single Brussels-based insurance carrier Euler Hermes Europe, aligned to Solvency II requirements. Memorandum of understanding signed to create Spain, Latin America strategic alliance: Euler Hermes to combine credit risk underwriting expertise, systems & standards with MAPFRE distribution and sales strength.
One Euler Hermes project: Euler Hermes adopts a new, more integrated, organisation with the aim of better meeting clients' needs.
Euler Hermes launches Euler Hermes World Agency, a company dedicated to multinational companies. In the same year, it begins operations in Colombia and sets up a credit insurance company in Chile.
Euler Hermes signs partnership agreements with ICIC (Israeli Credit Insurance Company) in Israel and BOCI (subsidiary of Bank of China) in China. It also acquires UMA (United States) and R2C (Ireland), two debt collection specialists.
Euler Hermes continues its expansion throughout the world: India, China, Russia, Israel, New Zealand, Australia, United Arab Emirates, Ireland, Argentina.
The new company harmonizes its branding. All subsidiaries adopt the name Euler Hermes and a single visual identity. (note edits pls)</date
The Euler group finalizes the acquisition of Hermes from Allianz group. In order to harmonize the new Group's brands, all the subsidiaries adopt the name Euler Hermes and a single visual identity.
Euler is listed on the Premier Marché of Euronext Paris. In September 2001, Allianz group and AGF announce their intention to merge their respective credit insurance subsidiaries.
SFAC takes over Trade Indemnity Company in the UK and ACI in the US. AGF becomes SFAC's majority shareholder, while Allianz take control of Hermes and NCM of DKR. The same year, the holding company changes its name from SFAC to Euler.
Creation of Phoenix Credit Insurance in Greece and HERMES RT in Hungary in co-operation with HERMES.
COBAC acquires Royal Nederlandse Kredietverzekering in the Netherlands.
SFAC takes over COBAC in Belgium.
Hermes breaks new ground in the EU domestic market by supplying foreign insurance cover, previously incorporated into domestic policies, as a separate and independent policy.
The crisis wave in the textile, metallurgy and distribution sectors cause losses to the SFAC.
Market conditions become tenser and competition fiercer, resulting in increased demand for goods credits.
SFAC penetrates new sectors such as temporary work, agroalimentary and chemicals.
The Federal Export Credit guarantees begin underwriting export credit transactions on behalf of the Federal Republic of Germany, in cooperation with Deutsche Revisions-und Treuhand. Several governments found such an institution, which, on behalf of their state, cover the risk inherent to export.
Various credit insurance companies found the Berne Union to reduce commercial risk by exchanging information: it is the goal of the union to control international credit. The founding members English ECGD, Italian SIAC, la Compania Espanola de Seguros de Credito y Caucion and the SFAC agree to share information on their customers' buyers in countries where there is no credit insurance company.
Hermes is Germany's sole insurer in the sectors of goods insurance, instalment payment insurance and export credit insurance.
After the collapse of Frankfurter Allgemeine Versicherungs-AG and the Berlin company Vaterländische Kreditversicherungs-AG, Hermes takes over their export credit and guarantee insurance business. Creation of Compagnie Belge d'Assurance-Crédit (COBAC) in Belgium. Foundation of the "Compana espanola de seguros de crédite y caucion" in Spain HERMES integrates Frankfurter Allgemeine und Vaterländische Kreditversicherung.
Société Française d'Assurance-Crédit (SFAC) is founded in 1927 by several large insurance companies, including Assurances Générales (a forerunner to AGF).
Trade Indemnity Company is founded by the British Trade Corporation.
Hermes Kreditversicherungs- Bank AG is founded in Germany.
American Credit Indemnity (ACI) is founded. It is the oldest credit insurance company of the world.