To expand its presence in the Chinese market, insurer Euler Hermes has entered into a cooperation agreement with China’s official export and credit corporation Sinosure. Sinosure offers export credit as well as credit insurance to the domestic market.
“We are very pleased to have signed this cooperation agreement as we see a high potential for credit insurance in the fast growing Chinese market. This cooperation is another step to consolidate our position as worldwide leader in credit insurance,” says Jean Lanier, CEO of Euler Hermes.
“The cooperation with Sinosure is an important step for our clients as it gives us the opportunity to satisfy the increasing demand of credit insurance in the Chinese market and it strengthens our ability to offer credit insurance globally. On the other hand Chinese
companies which export to other countries will also profit from our long experience in credit insurance,” says Jochen Dumler, member of the board of the group’s German subsidiary, Euler Hermes Kreditversicherung, which is responsible for the Asian market.
Euler Hermes has been present in Asia since early 1999 with branch offices in Japan, Hong Kong, Singapore and partnerships in various other markets.