Euler Hermes adds specialized Single Risk & Political Risk insurance team based in Singapore

Hong Kong / Singapore, 17-1-2014 — /EuropaWire/ — Euler Hermes, the world’s leading provider of trade credit insurance, is expanding its services in Asia Pacific with the addition of a specialized Single Risk & Political Risk insurance team based in Singapore.

“We’ve extended the reach of our transactional cover policies to Asia Pacific to help large clients in the region take advantage of attractive opportunities in both mature and emerging markets,” said Fabrice Desnos, head of Euler Hermes Asia Pacific. “Asia is a strategic growth region for Euler Hermes. Expanding our political and trade risk services and expertise is a further investment in providing our clients with best-in-class support for their trade needs.”

Euler Hermes transactional cover offers a full range of credit insurance products, including non-payment, political risks, interruption of trade, debtor insolvency and bonds. The Asia Pacific transactional cover team is part of Euler Hermes World Agency – dedicated to banks and large multinational clients – and complements existing Europe and US regional services.

Thomas Laporte-Many will lead the Euler Hermes Asia Pacific transactional cover services team. He has developed the company’s APAC transactional cover services since its launch in 2013, and will relocate to Singapore from Paris during 2014. Laporte-Many joined the Euler Hermes transactional cover team in August 2012 as head of Asia, France & Northern Europe activities. He began his career in 1999 at Coface as a trade credit underwriter in Paris, joining the Coface Export Credit Agency team in 2001 as project manager. In 2005, he joined Société Générale as deputy head of the trade credit & political risks insurance syndication team. Promoted to vice-president in 2007 to establish the export finance trade receivables financing business, Laporte-Many relocated to Hong Kong in 2010 as director of export finance for Société Générale.

Euler Hermes’ Asia Pacific trade credit insurance activities were established in 2000 and today are present either directly or through local partners in Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Singapore, Taiwan and Thailand. More than 250 people are employed in trade credit, bonding and collection services across the Asia Pacific region. Euler Hermes’ Asia Pacific headquarters are based in Hong Kong.

CONTACTS
Euler Hermes Asia Pacific Communication
Matthew Ellerton – +65 6395 8981 (Singapore)
matthew.ellerton@eulerhermes.com

Allianz Asia Pacific Media Relations
Patience Chan – +852 2238 8574 (Hong Kong)
patience.chan@allianz.com.hk
Euler Hermes Group Media Relations
Remi Calvet – +33 (0)1 84 11 61 41
remi.calvet@eulerhermes.com

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 over 50 countries, Euler Hermes offers a complete range of services for the management of B-to-B trade receivables and posted a consolidated turnover of €2.4 billion in 2012. Euler Hermes has developed a credit intelligence network
that enables it to analyze the financial stability of 40+ million businesses across the globe. The Group insured worldwide business transactions totaling €770 billion exposure end of December 2012. Euler Hermes, subsidiary of Allianz, is listed on Euronext Paris. The Group is rated AA- by Standard & Poor’s.

For more information visit www.eulerhermes.com or follow us on Twitter @eulerhermes

Cautionary note regarding forward-looking statements: The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Euler Hermes Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) persistency levels, (v) the extent of credit defaults, (vi) interest rate levels, (vii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (viii) changing levels of competition, (ix) changes in laws and regulations, including monetary convergence and the European Monetary Union, (x) changes in the policies of central banks and/or foreign governments, (xi) the impact of acquisitions, including related integration issues, (xii) reorganization measures, and (xiii) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

The company assumes no obligation to update any forward-looking statement.