In 2021, our consolidated turnover was €2.9 billion and insured global business transactions represented €931 billion in exposure. Headquartered in Paris, Allianz Trade is present in 52 countries with 5,500 employees. “We are excited to see Euler Hermes become Allianz Trade and are convinced that the change will bring about many benefits in terms of awareness, business development, growth and innovation,” commented Chris Townsend, member of the Board of Management of Allianz SE Focusing on the longer term and prepare for the future of trade, Allianz Trade said it “must seize the opportunity given by the shift of B2B trade online and become a key player in this new ecosystem.” “We are already experts in these lines of business, and we will invest to develop further and quickly expand our market shares.” Allianz Trade also will continue to develop its growth engines such as surety and specialty solutions. We also aim to accelerate market penetration in the U.S.” Allianz Trade said it will continue to work to deliver “top-level service in all market segments, building on unrivalled underwriting tools, skills and infrastructure, and on a multichannel distribution including the Allianz agents network. The company said its new brand name will directly support the implementation of its 2025 strategic plan, which is based on three pillars: 1 It monitors the financial health of over 80. A subsidiary of Allianz SE, Euler Hermes is rated AA by Standard & Poor's. This acquisition is the largest by the German insurer since CEO, Olivier Bäte took over in 2014 and is being viewed as a sign of the many things to come for the German insurer.“Changing brand name to Allianz Trade means reinforcing our position as a global player,” said the company in a statement. Allianz Trade is an international insurance company that offers a range of services including trade credit insurance, debt collection, surety bonds and guarantees, business fraud insurance and political risk protection. "The offer would not affect the composition of the supervisory board of Euler Hermes, nor the strategy of the company and its business model outside the normal course of its business," says the subsidiary of Allianz. The company has long-term growth prospects in trade credit insurance, bonding and other specialties.Īllianz has stated that it will not change the strategy of Euler Hermes’ management board. Euler Hermes is the leading global trade credit insurer and a core component of Allianz global lines business. The transaction would amount to approximately €1.85 billion. Figure 2: Rate of change in insolvency, 2013-2015Source: Based on.
Understanding the credit insurance process - Euler Hermes. Trade credit insurance also helps you access to working capital while reducing your overall risk. Recently they launched the takeover bid at €122 per share, offering a premium of 20.7% over the last course. Euler Hermes Kreditversicherungs AG has provided credit insurance to support the facility. Businesses that choose trade credit insurance benefit from safe sales expansion at home and abroad to new and existing customers.
Belgian insurance company licensed by the National Bank of Belgium under number 418. Legal form: Socit anonyme (joint-stock company under Belgian law) Registre des Personne Morales (Register of legal entities) (Brussels): register number 0403.248.596. Plans for Allianz to takeover Euler Hermes were originally revealed in June. Headquarters: Euler Hermes SA, 56 Avenue des Arts, 1000 Brussels, Belgium. The buyout represents 74.34% of Allianz’s shares. The company said in a statement: “Increasing ownership in Euler Hermes is a logical step for Allianz to deploy capital in strategic businesses delivering solid operating performance, and to strengthen positions in core home markets and in property and casualty in particular.”
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