Euler Hermes News

UK Government Forms £10 Billion Reinsurance Backstop for Trade Credit Insurers

The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic by guaranteeing transactions insured by trade credit insurers. The Trade Credit Reinsurance scheme is designed to support UK business-to-business transactions …

UK Insurers in Talks with Government About Creating Trade Credit Backstop

British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such as France, Germany and the Netherlands are giving guarantees …

Germany to Provide Credit Insurance Guarantees to Keep Trade Flowing: Sources

The German government and the country’s credit insurance industry have agreed to help to maintain insurance cover for trade despite economic hardship related to the coronavirus outbreak, three people with knowledge of the plan said on Wednesday. Under the plan, …

Insurers Face Big Investment Losses, Trade Credit Claims from Coronavirus Crisis

Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because epidemics are excluded from …

Demand for Trade Credit Insurance Grows Rapidly, as Brexit Fuels Insolvency Concerns

Companies are stepping up purchases of insurance to protect themselves against insolvencies in Britain, industry sources say, in part due to concerns about the impact of Brexit. The UK economy is feeling the pinch from the political uncertainty, which has …

Allianz Proceeds with Euler Hermes Acquisition, Delisting

Allianz Group said it will soon complete the acquisition of Euler Hermes minorities and will delist the trade credit insurer from the Euronext Paris stock exchange. Following the completion of the simplified tender offer for the shares of Euler Hermes, …

Allianz Raises Stake in Credit Insurer Euler Hermes to 92.43%

Allianz Group has successfully increased its stake in the leading credit insurer Euler Hermes to 92.43 percent. In November, Allianz first announced it intended to increase its 63 percent shareholding in Euler Hermes by buying out minority shareholders. Since then, …

Allianz Officially Launches Its Moroccan Subsidiary

The Allianz Group has officially launched its Moroccan subsidiary, Allianz Maroc, which has has been a part of the Allianz Group since Nov. 3, 2016, following the acquisition of 98.9 percent of Zurich Assurances Maroc. After obtaining the relevant regulatory …

Western Insurers Slowly Re-Enter Deals with Iran – a Market Valued at $9B

Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions 10 months on from the lifting of international sanctions. Shut out of international …

Foreign Insurers Take Cautious Look at Iran Business in Wake of Nuclear Deal

Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country …