Global trade credit insurer Euler Hermes is studying the acquisition of Allianz Ireland’s credit insurance activities, which have an annual turnover of around €10 million ($12.2815 million) with a 45 percent share of the Irish market.
“The deal would allow Euler Hermes to enter the last Western European country where it does not yet operate locally,” said the bulletin. “The Euler Hermes Group would take the market leading position in the country while strengthening its market leading position in Europe and worldwide.”
“Ireland is one of the most dynamic economies in Europe with an average annual GDP growth of 5.2 percent for the last 5 years,” noted Michel Mollard, member of the management board of Euler Hermes Group. “Allianz Ireland has developed a sound business in credit insurance with a high quality staff, which Euler Hermes would be pleased to welcome within the group. By implementing our business model that is so successful everywhere, Euler Hermes intends to further develop the credit insurance business locally to fully benefit from the vitality of the Irish economy.”
Topics Mergers & Acquisitions Europe
Was this article valuable?
Here are more articles you may enjoy.
Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules 
Alliant Insurance Acquires New Hampshire’s Melcher & Prescott 
Two Past Hurricanes, OIR Data Give Idea of What to Expect From Isaias in Florida 
Surplus Lines Leaders Remain Bullish on Outlook in a Shifting Market 
