Clement Booth will step down as chairman of the Supervisory Board of Euler Hermes on May 25th, 2016

PARIS – 15 MARCH 2016 - Clem Booth joined the Euler Hermes Supervisory Board in September 2009 and has served as its chairman since January 2010. He will step down as chairman and retire from the Supervisory Board on May 25th, 2016.

“It has been an honor to serve as chairman of the Euler Hermes Supervisory Board as we worked closely with the board of management to transform the company while sustaining its market leadership,” said Booth. “In the uncertain period following the financial crisis, Euler Hermes maintained its profitability and relevance by helping customers navigate both choppy waters and emerging opportunities. During that time the Supervisory Board was also strengthened to more closely mirror the company’s strategy. I would like to thank my Board colleagues for their commitment, collaboration and contributions to the success of Euler Hermes. I would also like to thank the Board of Management for their excellent efforts over the years.”

The Annual General Meeting on May 25th, 2016 will announce the election of the new chairman of the Supervisory Board and consecutively the new composition of the Supervisory Board.

Clem Booth’s insurance industry career spans more than 42 years, in which he has held senior management and board positions at a number of leading re/insurance companies. He was a member of the board of management of Allianz SE until his retirement from the company in December 2014. Prior to that, Booth was chairman and CEO of Aon RE International and spent 18 years with Munich RE AG, including as a member of the board of management. He was also a member of the board of the Association of British Insurers until the end of 2014. Booth is currently a member of the board of Hyperion, and serves as non-executive chairman of the board of its international underwriting business, DUAL. He is also a non-executive director on the boards of South Africa-based financial services groups Sanlam and Santam, and serves as director of Saracens Rugby Club in the UK.