In cooperation with Allianz-Tiriac Romania the Euler Hermes Group is now offering credit insurance in Romania. With the signature of a partnership agreement at the beginning of February, all requirements have been met to enter the Romanian credit insurance market.
The newly founded company, Euler Hermes Servicii Financiare, located in Bucharest, is the local contact for prospective clients in Romania and is administered by the Vienna-based Hermes South Eastern Europe Insurance Holding HSEE. It will provide clients with professional advice for tailored credit insurance products. The offer ranges from classic short-erm whole turnover policies for domestic to export risks insurance. The policies will be issued by Allianz -Tiriac.
Helmut Altenburger, general manager of HSEE, says: “In this partnership we combine Allianz Tiriac’s high level market knowledge with Euler Hermes credit insurance expertise for the benefit of our clients”.
Euler Hermes Servicii Financiare, focuses mainly on the Romanian-based affiliates of international groups but also on Romanian companies, both with their domestic and export receivables.
On top of credit insurance, the core product, other related financial services will be offered to Romanian clients in the medium term. Altenburger says: “First of all we plan to start with the debt collection which has already proved a great success in other countries. The fact that the Romanian market is still in a process of development should not present us with difficulties as we fully trust in our professional credit assessment.”