The move directly supports the trade credit insurer’s three-pillar strategic plan for 2025
Trade credit insurer Euler Hermes has changed its name to Allianz Trade.
Allianz Group became the sole owner of Euler Hermes in May 2018, after investing $1.85bn (£1.54bn in 2022) in the deal.
The firm therefore hopes that changing its brand name to reflect its parent company will reinforce its position as a global player, alongside enabling it to benefit further from the group’s reputation and network of expertise.
It currently has over 5,500 employees operating across 52 countries.
Becoming Allianz Trade also aims to support the business’ implementation of its 2025 strategic plan, which is based on three pillars and, according to chief executive Clarisse Kopff, has growth “at the heart”:
- Extend core businesses – the insurer will build on a multi-channel distribution, including the Allianz agents network, while aiming to accelerate market penetration in the US.
- Scale growth engines – the business plans to develop and expand its market shares in its surety and speciality solutions, including transactional cover unit and excess of loss.
- Prepare for the new world – the insurer aims to take advantage of the shift of B2B trade online and become a key player in the new ecosystem.
Kopff continued: “We are now Allianz Trade. What does it mean for our company, for our clients and for our employees? In one word: more.
“More global expertise and knowledge inspiring more local solutions. More confidence in tomorrow with more opportunities to help businesses grow. More foresight and customised service. More ability to keep up even better with technological transformations. More visibility to attract new talents and more career opportunities for our employees.
“There is a lot to be excited about and we have only just begun to explore the possibilities.”
Chris Townsend, member of the board of management at Allianz SE, said that the team is “convinced that the change will bring about many benefits in terms of awareness, business development, growth and innovation”.
“Allianz Trade is a unique, data driven and tech-enabled business, of which we are extremely proud,” he added.