Located in Bogota, Euler Hermes Colombia will provide a host of accounts-receivable management services to Colombian clients and give access to the Group’s international network. In parallel, Euler Hermes clients worldwide will benefit from the new local risk underwriting presence in the region.
"Latin America is a very dynamic region and we are happy to be able to strengthen our network of offices," said Euler Hermes CEO Clemens von Weichs. "The opening of Euler Hermes Colombia is a further step in our strategy to help our clients in their business development toward regions with a very high economic growth potential, and more specifically in Latin America."
Euler Hermes begins operations in Colombia
Euler Hermes, the worldwide leader in trade credit insurance, has announced the official launch of its newest Latin American subsidiary – Euler Hermes Colombia.
Von Weichs: "Euler Hermes Group is now present in four countries in Latin America"
Fast growth rate
Colombia is a country with strong economic fundamentals. The country’s 130-billion-dollar economy grew at 6.8 percent in 2006, the highest rate in 28 years and two points faster than the Latin American average. For 2007, Colombia’s GDP ranked fifth among the Latin American countries.
"It has always been imperative for our Group to best serve our clients by having representation in close proximity to the sources of risk – their buyers," said Clemens von Weichs. "With our new office in Colombia, the Euler Hermes Group is now present in four countries representing more than 75 percent of Latin American GDP, giving us a strong presence and knowledge of this area for our clients to benefit from."
Euler Hermes Colombia is the Group's fourth subsidiary in Latin America after the establishment of business units in Mexico and Brazil in 1999 and Argentina in 2007.
"It has always been imperative for our Group to best serve our clients by having representation in close proximity to the sources of risk – their buyers," said Clemens von Weichs. "With our new office in Colombia, the Euler Hermes Group is now present in four countries representing more than 75 percent of Latin American GDP, giving us a strong presence and knowledge of this area for our clients to benefit from."
Euler Hermes Colombia is the Group's fourth subsidiary in Latin America after the establishment of business units in Mexico and Brazil in 1999 and Argentina in 2007.
About Euler Hermes
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 51 countries, Euler Hermes offers a complete range of services for the management of B-to-B trade receivables. The group posted a 2.099 billion euros turnover in 2007.
Euler Hermes, a subsidiary of AGF and a member of Allianz, is listed on Euronext Paris.
Euler Hermes, a subsidiary of AGF and a member of Allianz, is listed on Euronext Paris.
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