Euler Hermes Group
With over 100 years' history, Euler Hermes has expanded organically or through acquisitions to become the world's largest credit insurer. Today the group is present in 49 countries.
After the acquisition by Euler of the German credit insurance group Hermes from Allianz in July 2002, the Euler Hermes group put in place a global harmonisation process of all its brands with a common visual identity.
The current Euler Hermes group has mainly been built up by its two largest subsidiaries, Euler Hermes SFAC in France and Euler Hermes Kreditversicherung in Germany.
SFAC was founded in 1927 by several large insurance companies, including Assurances Générales (a forerunner to AGF) and Swiss Reinsurance company and has hold since its beginning the no. 1 position in the French credit insurance market.
HERMES Kreditversicherungs-AG was founded in 1917 by two members of Münchner Rückversicherungs- Gesellschaft and Globus Versicherungs-AG. In 1949 it became the guarantor of export credit for the Federal Republic of Germany in co-operation with Deutsche Revisions- und Treuhand AG. Today HERMES is the leading credit insurer in Germany and has leading positions in Eastern Europe and Scandinavia.
In 1964, SFAC entered the factoring business by creating SFF Affacturage, which, in 1999, merged with Credit Lyonnais' factoring subsidiary. The new company EUROFACTOR is today European leader in integrated factoring. Meanwhile HERMES also supplemented its activities in credit management by adding bonding & guarantees to its service range.
During the 90s both SFAC (now a holding company) and HERMES started to expand in international markets by acquiring leading credit insurers or creating new subsidiaries. In 1996 AGF became a majority shareholder of the holding company SFAC while Allianz took control over HERMES. During the same year, the holding company SFAC changed its name to EULER. In 1998, Allianz acquired a majority shareholding in AGF.
In 1999, EULER and HERMES sign a co-operation agreement in order to co-ordinate their international development. In 27 April 2000, EULER floated on the Paris Stock Exchange.
In September 2001 the Allianz Group and AGF announced their intention to join their respective credit insurance companies through the acquisition of HERMES by EULER.
History
1893: Creation of ACI (American Credit Indemnity) and invention of Credit Insurance in U.S.A
1917: Creation of Hermes Kreditversicherung in Germany.
1927: Creation of SFAC(Societe Française d'Assurance Credit) in France.
1964: With the establishment of SFF SFAC entered in the faktoring area.
1992: SFAC ve Hermes arasında ilk işbirliği sözleşmesi imzalandı.
1992: The first co-operation agreement between SFAC and HERMES was singed.
1993: SFAC aquired Belgium credit insurane company COBAC (Compagnie Belge d'Assurance Credit.
1996:Newly named AGF Euler became the major shareholder in SFAC Holding company.
1996: Euler Trade Indemnity (U.K) and ACI (U.S.A)was aquired by SFAC.
1996: Almanya'da Allianz grubu Hermes'in çoğunluk hisselerini aldı.
1996: In Germeny Allianz aquired Hermes’ majority of stocks.
1998: Allianz AGF'nin ana hissedarı oldu.
1998: Allianz became AGF’S major shareholder.
1998: Euler aquired italian credit insurance company SIAC (Societa Italiana Assicurazione Crediti).
1998: Hermes created a new company in Scandinavia.
1999: SFF ve SLIFAC'ın(Credit Lyonnais) birleşmesini müteakip Eurofactor oluşturuldu.
1999: SFF and SLIFAC (Credit Lyonnais) merged under the name Eurofactor.
2000: Euler,Paris Menkul Kıymetler Borsasında kote edildi.
2002: Hermes is aquired by Euler. This new group rised to the leader position in the world.
2003: The group and it’s al subsidieries took the name EULER HERMES.
2004: Business development process begin in Russia,China,Finland,Korea, Southern Europe.
2004: Eurofactor was sold to Credit Agricole. Shares were aquired by buying stocks.
2005: Euler Hermes took control of all the Benlux subsidiaries. New subsidieries were opened in Baltic counties, Russia and India.
2005: Strategical cooperation agreement was singed in Turkey with KocAllianz.
2006: Company aquirements were done Ireland , Austria and New Zeland
2006: Dubai and UAE offices were opened.
2007: Euler Hermes Risk Management – İstanbul was oppened.
2007: American collection Office UMA was joined the group.
2007: 1/3 of ICIC capital , Israels leader kredit insurance company, was bougth.
2007: Argentina Office was opened.
Türkçe
Euler Hermes Group
