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.
In their report for 2011, Standard & Poor’s (S&P) underlines Euler Hermes’ very strong competitive position in the global credit insurance market of which the group holds 34%. According to S&P, the group’s leading position is the result of Euler Hermes’ strong underwriting expertise and franchise, and its high customer service quality. The agency furthermore emphasizes Euler Hermes’ strategically important status within the Allianz group, its very strong long-term financial flexibility and solid operating performance over the cycle.
As Wilfried Verstraete, Chairman of the Euler Hermes Management Board, puts it, “We are delighted that our AA-/stable rating was reaffirmed by Standard & Poor’s this year.” And he adds, “The rating not only shows that our client-centric strategy is successful, it also gives our customers great confidence that by choosing Euler Hermes they have a solid partner by their side to grow their business.”