Allianz Group Communications
Receive the latest Allianz news.
Euler Hermes, the world’s leading trade credit insurer, has issued an assessment of the progress the world has made a decade on from the onset of the Global Financial Crisis (GFC). “After one of the most tumultuous decades in both living memory and by any historical measure, we are seeing overall global stability and economic recovery finally beginning to gather steam,” said Ludovic Subran, chief economist at Euler Hermes.
“Many lessons have been learned since August 2007 and, even during the darkest hours of the GFC, there’s been much that world leaders have done well. At the same time, 10 whole years on from the onset of the crisis, there’s much still to be done to ensure that the world economy continues its upward trajectory and to ensure we’re fully prepared to weather any future shocks,” added Subran.
This last point is critical for future success, according to Ludovic Subran, who adds, “Too many rules often mask a lack of trust and purpose; yet both are paramount as finance is a good servant but a poor master.”
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.
As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:
Euler Hermes Group
Phone: +33 66360 4314