Annual report 2007 - Euler Hermes

The strength
of an international
organisation
“World trade is growing by between
7% and 10% a year.”
In 2007, GDP growth came
to 2.6% in the eurozone,
2% in the United States,
11.5% in China, 8.5% in India
and 7% in Russia.
Source : Euler Hermes Economic Outlook,
Issue 1129, November 2007
40%
Euler Hermes’ share of the North
American credit insurance market.
24 – ANNUAL REPORT 2007
its leadership in a market that is growing
at about the same pace as the economy.
Euler Hermes offers all its services in
Europe and added to its debt collection
activities in 2007. Trends were positive in all
the group’s main markets in 2007 with
turnover of €700 million in Germany (+0.3%),
€410.7 million in France (+7.2%), €247.8 million
in Italy (+9.8%) and €215.9 million in
the United Kingdom (+8.6%).
The credit insurance market is also promising
in Central and Eastern Europe, where it is
growing by close to 20% a year. As a pioneer
in this activity in the region, Euler Hermes
has acquired significant market share in
all the main countries, and notably in Poland.
Strong growth
in the United States
Euler Hermes ACI, the oldest credit insurance
company in the world, is the group’s North
American subsidiary. It has a 40% share of
the North American market and generates
turnover of €147.7 million. The North