Euler Hermes strengthens its asset management activity to drive its ambition for innovation and announces key organizational changes within its Transactional Cover (TCU) and Investment Solutions teams

PARIS, March 22, 2021 /PRNewswire/ -- Euler Hermes, the world leader in trade credit insurance, has announced key organizational changes to its Transactional Cover (TCU) and Investment Solutions teams. With new leadership at the helm of each business line, Euler Hermes is confident in an acceleration of its business that will help support its objectives in 2021 and beyond.

To this end, Isabelle Girardet has been appointed Global Head of Investment Solutions & Director of TCU Strategy after ten years of leading the Transactional Cover Unit. Isabelle, who successfully developed the TCU business line globally, built the 40-member team from the ground up and achieved portfolio growth of 300% over the last five years. During this time, Isabelle also paved the way for innovation with the introduction of Investment Solutions in 2019. Isabelle has established Euler Hermes as a recognized player in the credit and political risk market and will accelerate the growth of its asset management activities as part of the company's commitment to developing private debt investment, leveraging on insurance, and integrating ESG criteria. In parallel, she will also be acting as Director of TCU Strategy.

Christophe White will take over the role of Global Head of TCU, after nearly four years as the Regional Head of TCU in London, where he significantly increased Euler Hermes' portfolio by over 75% during his tenure. Christophe has 15 years of experience in senior roles in the insurance industry. He will be working with the TCU team at a global level to further drive its expansion and success, building on the strong foundation laid out in the past decade by Isabelle Girardet and the team, while nurturing the strong connection between TCU and its clients and brokers.

Christophe will be supported in his new role by Pierre Lamourelle, as his deputy and new Head of Underwriting, with the ambition to accelerate the business line. Pierre has 21 years of experience in senior roles in the credit and political risk markets, including ten years within Euler Hermes. As one of the founders of TCU, he has greatly contributed to its successful development with Isabelle over the past ten years.

"We are delighted to appoint Isabelle Girardet in a new role to focus on the growing private debt investment activity. The Transactional Cover Unit grew significantly over the past ten years and became a strong worldwide franchise, thanks to Isabelle's inspiring leadership and the dedication of her team. Her outstanding track record, together with her entrepreneurial spirit, make her a great fit for Euler Hermes' growth strategy and the direction we are committed to taking our clients, offering innovative solutions. We are also thrilled to welcome Christophe as the new Global Head of TCU, after an impressive performance as Head of the London TCU branch, and we know that he will significantly drive its expansion and success during this new chapter for the team," said Anil Berry, CEO of Euler Hermes World Agency, to mark the occasion.

TCU offers a customized policy solution designed for companies protecting assets abroad or seeking import or export transaction protection, and financial institutions offering trade and export financing solutions.

Investment Solutions will continue to leverage the expertise of both Euler Hermes and Allianz, acting as an asset manager for Allianz insurance portfolios in private debt with a focus on senior secured lending.

Both units are part of Euler Hermes World Agency, the team dedicated to multinationals and offering tailored and flexible risk solutions for global risk management.

About Euler Hermes

Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of surety, collections, structured trade credit and political risk. Our proprietary intelligence network analyses daily changes in corporate solvency representing 92% of global GDP. We give companies the confidence to trade and be paid. We compensate your company in the event of a bad debt, but more importantly, we help you avoid bad debt in the first place. Whenever we provide trade credit insurance or other finance solutions, our priority is predictive protection. But, when the unexpected arrives, our AA credit rating means we have the resources, backed by Allianz to provide compensation to maintain your business. Headquartered in Paris, Euler Hermes is present in 50+ countries with 5,800 employees. In 2019, our consolidated turnover was €2.9 billion and insured global business transactions represented €950 billion in exposure.

For more information, please visit: eulerhermes.com

We predict trade and credit risk today, so companies can have confidence in tomorrow.

Cautionary note regarding forward-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/US-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

SOURCE Euler Hermes