Euler Hermes is a global credit insurance company that offers trade credit insurance, bonding, guarantees, and collections services to businesses of all sizes. The company has been in operation for over 100 years and has a presence in more than 50 countries.
Background of Euler Hermes
Euler Hermes was founded in 1917 in Hamburg, Germany. The company was originally named Kreditanstalt für Handel und Wiederaufbau and its primary function was to provide financing for the rebuilding efforts after World War I. In 1920, the company was renamed Euler & Co., and subsequently became Euler Hermes in 2000.
Services Offered by Euler Hermes
Euler Hermes offers several services that are designed to help businesses manage their credit risk. These services include:
- Trade Credit Insurance: This is the primary service offered by Euler Hermes. Trade credit insurance protects businesses from losses resulting from non-payment by their customers.
- Bonding: This service guarantees that a contractor will perform the work they were hired to do.
- Guarantees: This service provides financial security to businesses if their customers fail to meet their contractual obligations.
- Collections Services: If a business is owed money by a customer, Euler Hermes can help them collect on the debt.
Euler Hermes’ Reputation
Euler Hermes is widely regarded as one of the best credit insurance companies in the world. The company has received numerous awards for its services and has consistently been ranked as one of the top credit insurance companies by independent rating agencies.
One of the reasons for Euler Hermes’ success is its financial strength. The company has an A+ rating from Standard & Poor’s and an A2 rating from Moody’s. This means that Euler Hermes is considered to be financially stable and has a low risk of defaulting on its obligations.
Conclusion
Overall, Euler Hermes is a reputable and reliable credit insurance company that offers a range of services to help businesses manage their credit risk. With over 100 years of experience and a strong financial rating, Euler Hermes is a good choice for businesses looking to protect themselves from the risks associated with non-payment by customers.
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