We’ve thrived for generations as the market leader and have continuously learned to serve our customers' needs.
We have deep roots that sustain us, even in tough economic times.
Creation of ACI (USA)

Creation of Hermes (Germany)

Creation of Trade Indemnity (UK)

Creation of SFAC (France) and SIAC (Italy)

Creation of COBAC (Belgium)
SFAC acquires COBAC.

SFAC acquires Trade Indemnity and becomes the world leader in trade credit insurance.

SFAC acquires ACI (USA) and SIAC (Italy).
Allianz buys AGF, shareholder of SFAC.
SFAC becomes Euler-SFAC.

Euler is listed on the Paris Stock Exchange.

Euler acquires Hermes, the world’s fourth trade credit insurer.

The Group and all subsidiaries adopt the name Euler Hermes.

International expansion in Asia Pacific, Middle East (Emirates, Kuwait, Sultanat of Oman, Quatar) and Latin America.
Creation of World Agency.

Euler Hermes raises stake to COSEC (market leader in Portugal) to 50%.

One Euler Hermes: simplification of the Group's structures and clarification of its governance.

New products: Trade Finance Insurance and Political Risk, Excess of Loss (XoL).

Excellence: increase in productivity and flexibility of the cost base through worldwide streamlining of operations.
Solunion: a joint venture created in Spain and LatAm by Euler Hermes and MAPFRE, Operations expanded to Chile, Columbia, Mexico.

ICIC: interest equity in ICIC (the Israeli credit insurance specialist) increased to 50%.

Distribution: innovative global distribution partnership in credit insurance with HSBC and Bpi, BNP Paribas for France.

New products: EH Smartview online risk monitoring "Simplicity", trade credit insurance solution for small businesses.


- LatAm expansion continued in Panama, Peru and Uruguay through its joint venture Solunion.
- Digital Agency, internal innovation "laboratory" launched.
- New products: "EH Fraud Cover" (France), company fraud risk protection; "Euler Hermes Energy", energy industry credit support & risk management solutions.
- New offices: Bulgaria, South Africa.


- Accelerate, a three-year company-wide business transformation program launched.
- Accelerate, a three-year company-wide business transformation program launched.New partnership created with Moody's to provide tailored rating service to European SMEs. In Italy, distribution partnership with Unicredit to provide TCi products for Italian SMEs.
- Accelerate, a three-year company-wide business transformation program launched.Distribution joint venture: China Pacific Property Insurance Company (CPPIC).
- Accelerate, a three-year company-wide business transformation program launched.Euler Hermes SA's internal model approved by the Belgian regulator Solvency II. 



Allianz Group successfully completed the acquisition of Euler Hermes’s outstanding shares. Euler Hermes Group is now fully owned by the Allianz Group.
Launch of the new strategic plan 2019-2021: “Confidence in tomorrow”.

There is much to learn from the lessons of history, for example in understanding the economic cycle and the impact on business risk and opportunities.  Focusing on one core service for many years, such as trade credit insurance, generates deep insight and the experience which is essential when giving advice and providing cover on a global scale.  Euler Hermes is a unique business that has been dedicated to the simple cause of trade credit risk management for several lifetimes. But we do not depend solely on the past. We have made significant investments in new technology and reinvented our processes to build products that are innovative and fit for the future. Our digital services place more of the power in your hands as a client, with even more access to our unique data so that you can act fast and trade with confidence.