Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Top Stories > Euler Hermes and HSBC forge global trade credit insurance agreement

Euler Hermes and HSBC forge global trade credit insurance agreement

Published by Gbaf News

Posted on May 4, 2013

3 min read

Last updated: January 22, 2026

Taiwan President Lai Ching-te calls for harmony amid budget standoff - Global Banking & Finance Review — In a Lunar New Year message, Taiwan President Lai Ching-te emphasizes the need for harmony between ruling and opposition parties amid a significant budget standoff. His appeal highlights the importance of unity in governance and economic progress.

With the rate of corporate failures increasing amid challenging economic conditions, Euler Hermes announced today that it has become the exclusive supplier of trade credit insurance solutions to HSBC Commercial Banking customers.

Under the terms of the global distribution agreement, HSBC customers trading on ‘open account’ will enjoy favorable access to Euler Hermes’ industry-leading protection against non-payment of receivables debt. Whether trading with established customers or seeking counterparties in new markets, insured companies will know their cash flow is secure even as insolvencies rise by a forecast 8%1this year.

“This pioneering partnership between Euler Hermes and HSBC is the first of its kind, on such a global scale, in the trade credit insurance market,” said Wilfried Verstraete, chairman of the Euler Hermes board of management. “There is a clear business synergy between Euler Hermes and HSBC. Demand for trade-related insurance is being driven by increased sector and geographic risks, and because today more than 80%2 of trade is conducted on an open account basis. Together, we can offer HSBC customers the combined benefit of our global leadership and strong local expertise.”

Euler Hermes helps insured companies to establish and maintain a trading relationship – from initial counterparty vetting using its database of more than 40 million businesses, to prompt claims payment in the event an approved counterparty defaults. Counterparty risk in both developed and emerging markets is monitored throughout the life of each policy.

“Trade credit insurance is important to our customers because it enables commerce by boosting confidence and because it protects balance sheets against unexpected shocks,” said Mark Hussein, HSBC’s global head of commercial insurance and investments. “It’s complementary to HSBC’s range of Trade and Receivables Finance solutions, so we’re delighted to be expanding our relationship with Euler Hermes at a time when businesses particularly need financial security.”

HSBC and Euler Hermes, a subsidiary of Allianz SE, have been strategic partners in Brazil, Mexico, the United Arab Emirates and the United States since 2008. The partnership has also recently been launched in Hong Kong and the United Kingdom.

“Today, HSBC has chosen Euler Hermes as a global partner for our market leadership, century-long standing, global capabilities and excellent client service as well as our outstanding financial strength3 backed by Allianz,” explained Wilfried Verstraete.

1 Source: Euler Hermes. Follows 1% increase in 2012.
2 Source: HSBC
3 Euler Hermes rated AA- by Standard & Poor’s

Euler Hermes is the worldwide leader in credit insurance and one of the leaders in the areas of bonding, guarantees and collections. With 6,000+ employees in over 50 countries, Euler Hermes offers a complete range of services for the management of B-to-B trade receivables and posted a consolidated turnover of €2.4 billion in 2012. Euler Hermes has developed a credit intelligence network that enables it to analyze the financial stability of 40+ million businesses across the globe. The Group insured worldwide business transactions totaling €770 billion exposure end of December 2012. Euler Hermes, subsidiary of Allianz, is listed on Euronext Paris. The Group is rated AA- by Standard & Poor’s.

For more information visit www.eulerhermes.com or follow us on Twitter @eulerhermes