Who is Euler Hermes?
In the media the word Hermes appears quite frequently. However, only few people realize, that Hermes, respectively the Euler Hermes Group, is the world’s largest credit insurer.
The core business of Euler Hermes is the commercial credit insurance. In contrary to deals involving private consumers, which immediately pay a good or a service in the shop, in business between two companies a credit is usually granted to the customer in form of a prolonged date of payment. Only until the expiration of this date, depending upon country and industry up to 120 days, the check must be paid. Especially in times of a weak economic situation this kind of credit implies a substantial risk for suppliers, because (through whatever circumstances) not seldom the customer is not capable of paying and the supplied good or service, and thus the money, is lost. This loss Euler Hermes replaces to his customer: cover for bad debt losses. When taking such risks into cover information about the solvency of enterprises is of extraordinary importance. Euler Hermes is with an amount of over 600 billion euro of covered demands and with information about 40 million companies world-wide an important partner of the economy and minimizes the risks of credits granted by suppliers.
Apart from this field of activity, Euler Hermes offers protection from fraud by own employees and computer misuse - a danger, which is often underestimated by enterprises.
A further large business field is the demand management, at which Euler Hermes manages open demands of its customers – because dealing with open demands can evolve to a task which is not always simple handle: Your demands are our challenge.
Additionally to these fields of activity Euler Hermes is the partner of the Federal Government in covering financing of export trades and projects (e.g. airplane exports or the building of dams) in countries, which are classified as politically risky. Thus Euler Hermes is also in this area an important partner and promoter of the German economy. These activities are meant, if the term Hermes-bond appears.
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Euler Hermes Group
