Euler Hermes is the global leader in trade credit insurance  and a recognized specialist in the areas of surety, debt collection, fraud insurance, structured trade credit and political risk. Our proprietary intelligence network analyses daily changes in corporate solvency representing 98% of global GDP.

We give companies the confidence to trade, and be paid. We compensate your company in the event of a bad debt, but more importantly, we help you avoid bad debt in the first place. Whenever we provide trade credit insurance, surety bonds or other finance solutions, our priority is predictive protection. And when the unexpected arrives, our AA credit rating (Standard and Poor’s) means we have the resources, backed by Allianz, to provide compensation to maintain your business.

employees in 50+ countries with 80 nationalities
clients, big and small, around the world
€950 billion
business transactions protected globally
For generations, we’ve thrived as the market leader, even in tough economic times, and have continuously learned to serve our customers' needs.

Our origin dates back from the creation of SFAC in France in 1918. During the following decades, SFAC prospered and started progressively to expand by acquiring COBAC in 1993 – a Belgian company created in 1929 – and Trade Indemnity in 1996 – a UK company created in 1918.

It allowed SFAC to become the world’s leader in trade credit insurance.


In 1998, SFAC continued expanding by acquiring in ACI – created in the US back in 1883 – and SIAC – an Italian company created in 1927. The same year, Allianz bought AGF, shareholder of SFAC. SFAC became Euler-SFAC.

In 2000, Euler got listed on the Paris Stock Exchange and then acquired Hermes in 2002, the world’s fourth trade credit insurer.


In 2003, the Group and all its subsidiaries adopted the name Euler Hermes, before continuing to expand in Asia Pacific, Middle East and Latin America, but also in Europe by raising stake to COSEC, the market leader in Portugal to 50% in 2007.

In 2008, we created World Agency, a dedicated global entity working specifically for multinationals.

Between 2010 and 2014, we concluded a global distribution partnership with HSBC, Bpi and BNP Paribas. Together with MAPFRE, we created a joint venture in Spain, Solunion, which quickly expanded to Latin America, and increased it interest equity in ICIC – the Israeli credit insurance specialist – to 50%.
In 2015, we created the Digital Agency, an internal innovation “laboratory”, and concluded new partnerships the following year: with Moody’s as well as with Unicredit to provide tailored rating services to European SMEs. In 2016, we also created a new joint venture, China Pacific Property Insurance Company (CPPIC).
In 2018, Allianz Group successfully completed the acquisition of Euler Hermes’s outstanding shares. Euler Hermes Group is now fully owned by the Allianz Group and is continuously investing to reinvent trade finance.