LONDON, DUBAI, UAE: Euler Hermes, the world’s leading trade credit insurer, has been named ‘best export credit agency’ by Global Trade Review (GTR). It is the fourth consecutive year that GTR has recognized Euler Hermes with an award, having previously recognized the company as best APAC trade credit insurer in 2013 and 2014, as well as best global trade credit and political risk insurer in 2014 and 2015.
Naming Euler Hermes as ‘best export credit agency’ for its 2016 activities, the industry publication cited Euler Hermes’ “strong commitment to support exporters through a range of new initiatives.”
The judges noted that Euler Hermes “stands out for its focus on digitalization.” This includes the launch of its digital agency in 2015 and partnering in 2016 with blockchain solution provider Fluent, since rebranded Hijro, to explore blockchain opportunities in the trade finance industry. GTR also singled out Euler Hermes collaboration with Moody’s to better serve European SMEs and noted that Moody’s chose Euler Hermes for “the quality of its credit expertise, detailed knowledge of the SME sector, and for the scope of its analytical coverage.”
Euler Hermes’ “world-class” research was also noted, particularly the quality of “risk analysis and intelligence on companies and trade sectors in 194 countries, providing unique information on non-payment data and insolvencies across the globe”. This included providing a new online platform for economic research, “from which more than 80,000 reports have been downloaded”.
GTR is a bi-monthly magazine with a global readership of some 24,000 corporate leaders, bankers and financiers in the international trade, export and commodity finance world. The awards are the result of voting by the magazine’s editorial board.
About Euler Hermes:
Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years of experience, the company offers business-to-business (B2B) clients financial services to support cash and trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92% of global GDP. Headquartered in Paris, the company is present in over 50 countries with 6,000+ employees. Euler Hermes is a subsidiary of Allianz, listed on Euronext Paris (ELE.PA) and rated AA- by Standard & Poor’s and Dagong Europe. The company posted a consolidated turnover of €2.6 billion in 2015 and insured global business transactions for €890 billion in exposure at the end of 2015.
In the Middle East, Euler Hermes provides professional credit insurance services to: protect companies from unanticipated financial risks, accelerate growth, and help businesses expand while keeping peace of mind. Euler Hermes has been present in the Middle East since 2006. We serve our customers through a network of offices & local partnerships in the GCC and other Middle East countries.