Annual report 2007 - Euler Hermes

The preferred partner
for trade receivables
management
14 – ANNUAL REPORT 2007
In addition to credit insurance, Euler Hermes offers companies
a full range of customer account management services.
PROMISING GROWTH DRIVERS
In 2007, Euler Hermes launched an
ambitious programme to develop its
commercial debt collection activities. The
group now offers debt collection services
to businesses who are not policyholders
but are looking for top quality services
from a world leader. Debt collection
naturally continues to be included in
the services offered to policyholders.
The commercial debt collection market is
estimated at around €1.2 billion in Europe
and €2.8 billion in the United States,
constituting a source of growth for the
future. Euler Hermes’ expansion in this
area will be supported by the group’s
credit insurance distribution channels and
targeted acquisitions. In 2007, for example,
the group acquired United Mercantile
Agencies in the United States and
Resolve2Collect in Ireland.
Surety bonds
Euler Hermes also offers businesses a
wide range of surety bonds and warranties
for domestic and export contracts. These
services cater in particular for building and
civil engineering companies and equipment
manufacturers.
The group carries out this activity mainly in
Germany, but also in the United Kingdom,
Northern Europe, the Netherlands and
France.
Financing trade receivables
The financing of trade receivables reflects
Euler Hermes’ wish to offer its clients a
global solution. With this in mind, the group
has set up EOLIS Services Premium (EOLIS
is the online credit insurance management
application), which enables clients to
inform their banks of the percentage of
credit insurance cover for each invoice