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Euler Hermes, the world’s leading trade credit insurer, announced that it has launched Surety – including performance and payment bonds – in its Americas region (the United States, Canada and Brazil).Allianz SE
With nearly 100 years of global surety and bonding history, Euler Hermes is one of the world’s most experienced surety providers.
“The addition of Surety is a natural evolution for Euler Hermes, as we seek to provide a full suite of risk management solutions and business growth support to our customers,” said James Daly, president and CEO of Euler Hermes Americas. “Surety bonds allow our customers to preserve liquidity, leaving cash free for potential new projects. By partnering with Euler Hermes, a customer can ensure its working capital remains intact and its business continues profitable growth.”
Locally in the U.S., Canada and Brazil, Euler Hermes will partner with specialized surety agents and brokers and will focus on contract and commercial surety. Contract surety bonds are a common requirement in the construction industry, where Euler Hermes offers bid, payment, performance, supply and maintenance bonds for mid to large contractors, while commercial surety bonds may be required by local and state law to comply with state or federal regulations. Euler Hermes offers a variety of bonds to individuals, small businesses and large companies.
Euler Hermes’ investment grade ratings (AA- S&P, A+ AM Best) are accepted by corporations and banks across the globe, making it a solid reference for contractors and surety customers’ beneficiaries and financial partners. Certified through the U.S. Department of the Treasury's Listing of Approved Sureties, Euler Hermes can structure individualized bonds to meet specific customer needs in the more than $6 billion U.S. surety market.
With a global surety team of over 150 employees, Euler Hermes is uniquely capable of providing true integrated international bond programs, allowing for central management and a single contact for operations in multiple countries. The company’s worldwide presence and proprietary global market information allows it to accurately calculate risks to proactively support customers.
“When competing for business, companies and contractors need a reliable global surety partner who understands their plan and their industry,” said Peter Quinn, Head of Surety for Euler Hermes Americas. “Our team of domestic and international surety experts provides a high level of knowledge and service to help our customers compete quickly and confidently. Our personalized approach enables us to find optimal solutions for each partner.”
Euler Hermes’ regional headquarters for the United States, Canada and Brazil is located in Owings Mills, Md. Founded in 1893, Euler Hermes North America is the world’s largest and longest-established provider of trade credit insurance and accounts receivable management solutions. The company protects and insures around $250 billion of regional trade transactions annually, serving small, medium and multinational clients across a range of sectors. The company employs 430 people regionally and serves clients from more than 50 locations in North America and Brazil.
Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years of experience, the company offers business-to-business (B2B) clients financial services to support cash and trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92 percent of global GDP. Headquartered in Paris, the company is present in over 50 countries with 5,800+ employees. Euler Hermes is a subsidiary of Allianz, listed on Euronext Paris (ELE.PA) and rated AA- by Standard & Poor’s and Dagong Europe. The company posted a consolidated turnover of 2.6 billion euros in 2016 and insured global business transactions for 883 billion euros in exposure at the end of 2016.
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