Erste Group Bank Oyler Hermes

The Erste Group Bank company ("Oyler Hermes") is the participant of the market of credit insurance and management of receivables, insurance of enterprise risks. Euler Hermes is part of the Allianz ("Alliance") group, a supplier of comprehensive financial solutions.

Euler Hermes is headquartered in Paris. At the beginning of 2022, the company is represented in more than 50 countries, it employs 5800 employees.

The company works in the field of providing insurance guarantees, debt collection, structured trade financing and political risks. Its own data-processing network analyzes daily changes in the solvency of companies, which account for 92% of global GDP. With the services of Euler Hermes, companies can trade, confident that they will be paid. The insurer compensates for losses in case of bad debt from the counterparty, but first of all helps to avoid the occurrence of such debt.

Business in Russia

Euler Hermes has been on the Russian market since 2004. The priority area is insurance of the risk of insolvency of counterparties, which are granted commercial (commodity) loans in the form of deferred payment. The total volume of Euler Hermes insurance coverage in Russia is €3.6 billion.

In 2019, Euler Hermes specialists in Russia made more than 25,000 decisions to provide credit lines, analyzing the reliability of counterparties. In the crisis of 2014-2015. Euler Hermes paid €31 million in losses, supporting its customers in conditions of instability. Euler Hermes plans to develop its business and increase its share in the strategically important Russian market.

History

2020

In 2020, Euler Hermes covered the risks of commercial transactions in the amount of debt of 824 billion euros worldwide.

2019

In 2019, the company's revenue exceeded €2.9 billion, operating profit amounted to €475 million. The Euler Hermes database has more than 40 million companies from various sectors of the economy. Euler Hermes regularly monitors the risks of companies accounting for 92% of global GDP and covers risks of €890 billion. In addition, the Euler Hermes Economic Research Center maintains a country risk rating, analyzing the economic and political environment of 245 countries.

• The company's offices are located in more than 50 countries. The reliability of Euler Hermes is confirmed by the AA ratings from Standard & Poor's and Aa3 from Moody's.