Euler Hermes established its operations for GCC back in 2006 in cooperation with local partners. Our job is to make sure that GCC companies get paid for their sales of good and services both in their home country and elsewhere in the world.
Euler Hermes set up its regional operations with more than 80 employees, including 35 risk experts and commercial underwriters delivering world class Trade Credit Insurance solutions to the corporates. In 2014, Euler Hermes incorporated the first services company in DIFC (Dubai International Financial Centre" under the name " Euler Hermes Services G.C.C. Limited".
Our experienced team consisting of risk experts, sector analysts and commercial underwriters deliver their exceptional expertise to service our clients to help their business grow by assisting in monitoring and mitigating risk at an operational level.
Our strategy is to have a team of local and expatriate experts who know the local market, sectors and companies and that can use their local authority in light of a real presence in field.
So, in partnership with well established and highly regarded local Insurance Companies, we have permanent specialized and fully dedicated teams in the UAE (Dubai, Abu Dhabi) and KSA (Riyadh, Jeddah) and we cover all other GCC Countries with our knowledge and the support of our strong local partners.
In each country Trade Credit Insurance policies are underwritten by local Insurance Companies (“Fronters”) according to Euler Hermes global information and underwriting knowledge and processes.
In this way we can, at the same time, grant you the local presence with full compliance to each country’s regulation and the knowledge of hundreds of countries and 40 millions of companies all over the world that made Euler Hermes the worldwide leading Trade Credit Insurer since many years.
Whether you want to expand your business in domestic or international markets or protect your key financial accounts, we can help you succeed with our customized credit insurance solutions. We provide your business with a flexible credit insurance solution that is tailored to fit your size, sector and business ambitions. Improved access to finance at competitive rates from financial institutions strengthening lender relationship. Credit insurance can be essential to ensuring businesses’ continued success. It can provide powerful information and support that your business might not have otherwise.
Outstanding underwriting experience in GCC leading sectors such as Metals, Petrochemicals, IT/ Telecom, Food and Pharmaceuticals instilled confidence in our clients helping them grow their business safely.
Through online system (EOLIS), completely web based and can be accessed anywhere from smartphone tablets or PC, is possible to manage the policy with utmost ease.
Some of the ways your business can benefit from credit insurance include:
- Customized solutions for your needs. With our partners, we are committed to providing your business with a credit insurance solution that exactly meets your need and wishes.
- It gives you a trusted and open partner. We work closely with your internal credit manager to optimize your business’ credit management. Our extensive knowledge and reach will support and strengthen your credit management. We give you the best information to make the right decisions for your business.
- It gives you global capability. In addition to our local GCC team of over 80 dedicated credit insurance specialists, we have global risk expertise and track sectors trends, financial data and payment performance of more than 40 million companies in 200 countries representing 98% of global GDP. This enables us to be close to where you have business operations. It also gives us the information and decision-making capability to support your business’ success. Our credit limit decisions are always made close to your risk, with coordination at a global level.
- It provides security for your business. Unpaid invoices can negatively impact the business results of a large, successful company. With credit insurance, you are protected from unpaid invoices.