Euler Hermes - Our Knowledge Serving your Success
No matter if you are a producer or importer, supplier or wholesaler, you are exposed to the non-collecting receivables risk born from the process of delivering goods or rendering of services with term payment.
For each company which wants to develop, same time protecting its assets, Euler Hermes is the ideal partner in the receivables management. Thanks to the knowledge of the risks which might appear in the sales process, Euler Hermes can help companies avoid financial losses.
IMPORTANT ANNOUNCEMENT(29/09/2011, Bucureşti)
Euler Hermes Kreditversicherungs-AG, the German company, based in Friedensallee 254, 22763 Hamburg, Germany, registered in the Trade Register under no. HRB 5160, registration code to the Federal Financial Supervisory Authority of Germany (Bundesanstalt für Finanzdienstleistungsaufsicht - "BaFin") 5882 (hereinafter referred to as "EH AG") represented by its subsidiary Euler Hermes Kreditversicherungs'AG Hamburg Romania Bucharest Branch, with located in Str. Petru Maior no. 6, sector 1, Zip code 011264, Bucharest, Romania, Bucharest registered with the Trade Register under Order J40/15076/2008, Sole Registration Code 24423806, ("the Subsidiary"), as the transferor insurer, through its legal representatives in accordance with Article 11. 2 of the rules on transfers of portfolios between insurers implemented by Order of the Insurance Supervisory Commission (CSA) No.. 113 108 / 2006, hereby announces its intention to transfer the whole portfolio of insurance (insurance) of the branch in Romania by Euler Hermes Credit Insurance Belgium SA, a Belgian insurance company based in Rue Montoyer 15, 1000 Brussels, registered in the Commercial Register under no. 31 955, approved by the Banking, Finance and Insurance in Belgium (CBFA) under no. 0418 (hereinafter referred to as "EH SA"), as transferee insurer
General and special conditions of insurance contracts concluded by the Branch transferred remain unchanged and will be taken as such by EH SA, to operate in Romania through Euler Hermes Credit Insurance Belgium SA Brussels Bucharest Branch, starting with 1.10 .2011.
The transfer of portfolio to be approved by decision of the Federal Financial Supervisory Authority of Germany (Bundesanstalt für Finanzdienstleistungsaufsicht - "BaFin) BaFin decision to take effect retroactively as of 01/10/2011.
This notice will be published on the website branch and three daily newspapers of wide circulation in Romania.
Euler Hermes is the world leader in trade credit insurance, with a market share of 34.9%. With over 6,000 employees in over 50 countries, Euler Hermes offers a complete range of receivables management services, recorded in 2010 a consolidated turnover of EUR 2.15 billion.
Euler Hermes has developed a complex network which allows to analyze the financial stability of over 40 million companies worldwide. At the end of 2010, total transactions provided by the Group amounting to EUR 633 billion.
Euler Hermes, a company of Allianz, is listed on Euronext Paris. Group holding company and its main AA-rating reaffirmed by Standard & Poor's.
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