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Euler Hermes
From Wikipedia, the free encyclopedia
| Euler Hermes International | |
| Image:Euler hermes logo.gif | |
| Type | Société Anonyme |
|---|---|
| Founded | 1917 (Hermes), 1893 (ACI) |
| Headquarters | Paris, France |
| Key people | Jean-Philippe Thierry, Chairman, Chairman-CEO of AGF |
| Area served | Europe, USA |
| Industry | Insurance |
| Products | Re-insurance, Factoring |
| Revenue | € 2,011.8 million (2006) |
| Operating income | € 489.9 million (2006) |
| Net income | € 326.1 million (2006) |
| Employees | 5,500 |
| Parent | AGF |
| Divisions | Euler Hermes ACI, Euler Hermes SFAC, Euler Hermes SIAC |
| Owner | Allianz SE |
Euler Hermes International is a French credit insurance company owned by AGF which is also owned by European's Allianz SE.
It claims to have 36% (2006) of the total credit insurance market. Euler Hermes is the result of the acquisition of Allianz's Hermes by AGF's Euler in 2002.
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Euler Hermes ACI, the North American subsidiary of Euler Hermes is incorporated in 1893. It is the oldest and largest insurance carrier in North America exclusively writing receivables insurance and providing risk mitigation services. It is headquartered in Baltimore, Maryland. Euler Hermes ACI and Euler Hermes Canada provide credit insurance policies covering both domestic and export trade in more than 160 countries.
The company has 46 subsidiaries throughout Europe, in France, Italy, Belgium, United Kingdom but also in the United States and Canada, including regional service hubs in New York City, Chicago, Atlanta, Los Angeles, Houston, Toronto and Montreal. It distributes its products and services through a network of direct agents, brokers, and banks. It employs approximately 5,500 around the world, and insures over $768 billion in commercial transactions.
Its covers global risk management in five continents, with risk and information specialists located in 46 countries. Euler Hermes has a database with proprietary information on more than 40 million companies worldwide, and provides coverage on shipments to 160 countries around the globe.
Hermes cover, the German export credit guarantee scheme managed by Euler Hermes Kreditversicherungs-AG and PricewaterhouseCoopers Aktiengesellschaft
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