The specialist of credit insurance Euler Hermes announced on Tuesday a new service through a new department dedicated exclusively to major exporters.
With a view to providing major export companies with all the solutions they need to secure their trade, Euler Hermes is setting up a Transactional Cover unit dedicated to tailored credit insurance solutions for major exporters and bank trade related financing as from October 1, 2010.
The new department will form part of Euler Hermes World Agency, a division dedicated to large multinational corporations. Euler Hermes Transactional Cover will offer a full range of cover against interruption of trade, debtor insolvency and abusive exercise of bonds, as well as confiscation, expropriation and nationalisation. It will complement the offer already existing in Germany.
The insurance offer will be particularly flexible so as to adapt to clients’ needs and business trends, with a cover duration of up to seven years. Isabelle Girardet will head the Transactional Cover department with Pierre Lamourelle as Deputy Head. The Transactional Cover team will be based initially in Paris and gradually extended to other financial centres, and will roll out their offer worldwide through Euler Hermes’ international network.
Isabelle Girardet brings experience in political and trade risk insurance acquired during 15 years with Reliance Insurance in the United States and in the United Kingdom, and in France with Atradius, which she joined in 2003 as head of the Global department for France. In 2005, she set up the credit and political risk division for France and then moved on to head the Southern European region in 2006.
Pierre Lamourelle began his career as an underwriter with Coface before moving to Unistrat as Underwriting Manager for Northern, Central and Eastern Europe. In 2006, he became head of the French underwriting team at Atradius’ credit and political risk division.
