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Solunion to offer Euler Hermes Transactional Cover Unit products

Tailor-made cover to mitigate default and political risks for international trade and financing.


Madrid – WEBWIRE

Solunion, experts in credit insurance, will offer its clients the full range of Transactional Cover Unit (TCU) products from Euler Hermes, its joint shareholder with MAPFRE. The tailor-made policies are designed to safeguard against default and political risks, including those arising from short, medium and long-term contract interruptions and issues with credit and bank financing.

“Since Solunion was established in 2013, we have focused on bringing the most sophisticated solutions for short-term trade credit risk coverage to the market. With the launch of transactional cover products, Solunion will enter the medium and long-term credit insurance market, adding political risk protection capacity,” said Felipe Buhigas, Commercial and Marketing Corporate Director at Solunion. “Incorporating these strong products into our offering reflects our strategy of providing quick, simple and effective solutions to meet the changing needs of our customers.”

With the increasing complexity of international trade and finance, unexpected changes in the type and level of associated risk can also occur more frequently, including unforeseen political risk. These risks can impact a wide range of financial institutions from investors to companies across the spectrum of international trade.

Transactional Cover solutions can protect a wide range of medium and large companies including multinationals, equipment manufacturers, long-term import and export companies, as well as banks and financial institutions and those involved in trade risk and international financing.

About Euler Hermes

Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years of experience, the company offers business-to-business (B2B) clients financial services to support cash and trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92 percent of global GDP. Headquartered in Paris, the company is present in over 50 countries with 5,800+ employees. Euler Hermes is a subsidiary of Allianz, listed on Euronext Paris (ELE.PA) and rated AA- by Standard & Poor’s and Dagong Europe. The company posted a consolidated turnover of 2.6 billion euros in 2016 and insured global business transactions for 883 billion euros in exposure at the end of 2016.

www.eulerhermes.com

About Solunion 

Solunion Seguros de Crédito offers credit insurance solutions and services for companies in Spain and Latin America. Established in 2013, present in Spain, Argentina, Chile, Colombia, Ecuador, Dominican Republic, Mexico, Panama, Peru and Uruguay, it is a joint venture owned equally by MAPFRE, a multinational insurance company present on the five continents, market leader in Spain and first multinational insurance group in Latin America, and by Euler Hermes, the global leader in trade credit insurance and a leader in bonding and collections. Solunion offers clients an international network of risk monitoring from which it analyzes the financial stability of more than 40 million companies. An extensive distribution network responds to the needs of companies of all sizes in a wide range of trade sectors.

www.solunionseguros.com

Further Information

Forward Looking Statement disclaimerForward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group’s core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events) (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.


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