Euler Hermes is a globally recognized trade credit insurance company that provides credit insurance, surety, and other financial services to businesses of all sizes. The company has a long history of serving clients worldwide since its inception in 1917. In this article, we will explore the origins and history of Euler Hermes.
The Origin of Euler Hermes
Euler Hermes was founded in Hamburg, Germany, in 1917 by Hermann Hagedorn and Rudolf von Jhering. The company was named after the famous mathematician Leonhard Euler and the Greek god Hermes. The combination of these two names represented the company’s mission to provide reliable financial protection to businesses.
The Early Years
In its early years, Euler Hermes primarily focused on providing credit insurance for German exporters. However, as the company grew and expanded its offerings, it became a global leader in trade credit insurance. Today, Euler Hermes operates in over 50 countries worldwide with a workforce of more than 6,000 employees.
Acquisition by Allianz
In 2003, the French insurer AGF acquired Euler Hermes and merged it with its existing credit insurance business. The newly formed entity was named Euler Hermes ACI (Allianz Credit Insurance). In 2008, Allianz acquired AGF and integrated Euler Hermes ACI into its own operations.
Euler Hermes Today
Today, Euler Hermes is a subsidiary of Allianz SE and operates as one of the largest trade credit insurers in the world. The company provides a range of financial solutions to businesses including trade credit insurance, surety bonds, debt collection services, and risk management tools.
Conclusion
Euler Hermes has come a long way from its humble beginnings in Hamburg over a century ago. Its commitment to providing reliable financial protection to businesses has helped it become a global leader in trade credit insurance. With a strong presence in over 50 countries, Euler Hermes is well-positioned to continue its growth and support businesses around the world.
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If you’re in the business of international trade, then you’ve probably heard of Euler Hermes. This company is one of the world’s leading providers of trade credit insurance, which helps businesses manage their credit risk and protect themselves against non-payment. But where is Euler Hermes located?
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