History

In July 2002 former Euler & Hermes Group completed the buy-out of HERMES Kreditversicherungs-AG from Allianz and started a global harmonization process of all brands of the Group. From April 2003 onwards all former EULER and HERMES brands have integrated the name Euler Hermes and a new common visual identity.

HERMES Kreditversicherungs-AG was founded in 1917 and quickly became the market leader in Germany. Since then it has been helping companies and governments to insure against economic and political risks around the globe.

SFAC was founded in 1927 by several large insurance companies and since the beginning has held it's no. 1 position in the French credit insurance market.

During the 90s both SFAC and HERMES Kreditversicherungs-AG started to expand in international markets by acquiring leading credit insurers or creating new subsidiaries. During the same decade, the holding company SFAC changed its name to EULER. Both EULER and HERMES together have increased their share of the global credit insurance market to 37%. In 2002 HERMES became a subsidiary of EULER & HERMES S.A. in Paris, which is global market leader in credit insurance.

Local Specialization

To further serve the Asian Markets, as well as to offer more comprehensive service to clients, Euler Hermes Group set up the Hong Kong and Singapore office end of the 90s. Working together with clients throughout major Asian countries, we offer solutions tailored to these major economies.

In March 2002 Hermes Group was awarded a license for domestic credit insurance and began offering its services through its Tokyo Office. In Japan the new company name, Euler Hermes Credit Insurance Japan Branch (formerly Hermes Kreditversicherungs-AG Japan Branch) was legally changed on August, 2003 due to the marriage of the both groups. In April 2005 the Japan Branch received licenses to conduct export credit insurance business and in addition to the domestic credit insurance.