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Euler Hermes starts operating in Qatar, Oman and Kuwait

The world’s leading credit insurer has entered into partnership with Qatar Insurance Company and its subsidiaries in Oman and Kuwait. Euler Hermes, the world’s leading credit insurer and member of the Allianz Group, has signed a cooperation agreement with Qatar Insurance Company and its subsidiaries in Oman and Kuweit to provide credit insurance services in these three countries.

Thanks to these cooperation and reinsurance agreements, companies based in Qatar, Oman and Kuweit now benefit from credit insurance, an efficient and flexible solution to mitigate trade credit risks. They can also rely on the expertise and knowledge of analysts who understand their local economic environment and culture to manage their trade receivables. The first policies have already been issued, underlying the interest credit insurance raises in the Gulf region.

Euler Hermes is further strengthening its operations in the Gulf region, after opening an office in Dubaï in early 2007 and signing cooperations agreements with local partners in the United Arab Emirates, the Kingdom of Saudi Arabia and Bahrain.

Euler Hermes is the worldwide leader in credit insurance and one of the leaders in the areas of bonding, guarantees and collections. With 6,000 employees in 51 countries, Euler Hermes offers a complete range of services for the management of B-to-B trade receivables and posted a consolidated income premium of 2.1 billion euros in 2007.
Euler Hermes, subsidiary of AGF and a member of the Allianz group, is listed on Euronext Paris. The group and its principal credit insurance subsidiaries are rated AA- by Standard & Poor’s.

Mardi 10 Juin 2008

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