Euler Hermes Teams Up With Allianz To Offer Trade Credit Insurance Products, Services

KUALA LUMPUR, May 3 (Bernama) -- Malaysian businesses active in domestic and export markets can now access Euler Hermes' trade credit insurance products and services more easily, following a cooperation agreement involving it and Allianz General Insurance Co (M) Bhd. Euler Hermes is the world leader in trade credit insurance and Allianz will act as a distributor for Euler Hermes services nationwide. In a statement Friday, Euler Hermes Asean chief executive officer (CEO), Victor Jiang, said under the agreement, local companies would have more direct access to credit insurance products to protect them as they grew domestically, regionally or globally. "Malaysia is a strategic Asia-Pacific market for Euler Hermes. Although we opened our branch company here last December, we have provided credit insurance solutions to Malaysian businesses since 2005. "Partnering Allianz, which has a strong local presence, will enable us to move even closer to our customers in responding to their specific needs as their markets continue to grow," he said. Allianz CEO, Zakri Khir, said Euler Hermes' extensive knowledge in trade credit insurance and intelligence made it a perfect partner as the company expanded its business-to-business insurance offerings in the dynamic Malaysian market. "We share the same strategy and values, especially when it comes to delivering excellent customer service," he said. Allianz is one of Malaysia's largest insurers with 32 branches and have over 5,000 agents and other partners country-wide. In June last year Allianz was authorised by Malaysia's Central Bank to write credit insurance. -- BERNAMA