Euler Hermes, a well-known provider of trade credit insurance, has been operating in Russia for many years, offering protection and risk management solutions to businesses in the region. However, recent developments have brought about significant changes in the company's operations in Russia, leading to the sale of its business in June 2024 and the emergence of a new management team to take over the reins.
#LeaveRussia: Euler Hermes Closed its Business in Russia
The decision to sell its business in Russia marks a significant shift for Euler Hermes, as the company has been a prominent player in the Russian market for a number of years. The move comes as part of a broader strategy to streamline operations and focus on core markets where the company sees the most growth potential.
Euler Hermes, a subsidiary of Allianz Trade, has decided to divest its Russian business to a local management team, comprising 11 individuals who have now become the new founders of the organization. This transition signals a new chapter for Euler Hermes in Russia, as the company looks to realign its operations and strengthen its presence in key markets.
Euler Hermes: A Leader in Trade Credit Insurance
Euler Hermes has long been recognized as a leader in the trade credit insurance industry, providing businesses with valuable protection against the risks of non-payment and insolvency. The company's comprehensive range of insurance products and services has helped countless businesses navigate the complexities of international trade and mitigate the financial risks associated with doing business in foreign markets.
With a strong track record of success and a global network of partners and clients, Euler Hermes has built a reputation for excellence in the trade credit insurance industry. The company's commitment to innovation and customer service has set it apart as a trusted partner for businesses seeking to safeguard their trade receivables and manage their credit risk effectively.
Allianz Trade to sell Russian business to local management team
In a strategic move aimed at strengthening its operations in key markets, Allianz Trade has decided to sell Euler Hermes' business in Russia to a local management team. This decision reflects Allianz Trade's commitment to empowering local talent and providing opportunities for growth and development within the organization.
By entrusting the management of its Russian business to a team of experienced professionals with in-depth knowledge of the local market, Allianz Trade aims to ensure a smooth transition and continuity of operations for Euler Hermes in Russia. The new founders of the organization bring a wealth of expertise and industry knowledge to their roles, positioning Euler Hermes for continued success in the Russian market.
Euler Hermes is becoming Allianz Trade
With the sale of its business in Russia to a local management team, Euler Hermes is now set to become a part of Allianz Trade, a leading provider of trade credit insurance and risk management solutions. This transition marks a significant milestone for Euler Hermes as it aligns its operations with Allianz Trade's broader strategic objectives and strengthens its position in the global market.
As part of Allianz Trade, Euler Hermes will benefit from the resources, expertise, and network of a larger organization, enabling it to enhance its product offerings, expand its reach, and better serve its clients in Russia and beyond. The integration of Euler Hermes into Allianz Trade signals a new chapter of growth and innovation for the company, as it leverages the synergies and capabilities of its new parent company to drive value for its customers and stakeholders.
Euler Hermes внедряет новую систему
In line with its commitment to continuous improvement and innovation, Euler Hermes is in the process of implementing a new system to enhance its operations and better serve its customers in Russia. The introduction of this new system reflects Euler Hermes' ongoing efforts to stay ahead of the curve and adapt to the evolving needs of its clients in an increasingly complex and dynamic business environment.
By investing in technology and digital solutions, Euler Hermes aims to improve the efficiency, accuracy, and accessibility of its services, enabling businesses to make more informed decisions and manage their credit risk more effectively. The new system will streamline processes, automate workflows, and provide real-time insights and analytics to help businesses navigate the challenges of the modern trade landscape.
Euler Hermes Russia: A New Beginning
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