Trade credit insurer Euler Hermes has launched its new Latin American subsidiary Euler Hermes Colombia.
It is located in Bogota, and will provide a host of accounts receivable management services to Colombian clients. Current Euler Hermes clients across the world will benefit from new local risk underwriting presence in the region.
"The opening of Euler Hermes Colombia is a further step in our strategy to help our clients in their business development toward regions with a very high economic growth potential, and more specifically in Latin America, “comments Euler Hermes CEO Clemens Von Weichs.
With this new office, the Euler Herms Group is present in four Latin American countries, with the other offices based in Brazil, Mexico and Argentina.
Colombia is one of the fastest growing Latin American countries, with a recorded economic growth of 6.8% in 2006, the highest rate in 28 years and two points faster than the Latin American average. In 2007, Colombia's GDP ranks fifth among Latin American counties.
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