French credit insurer launches surety services in the Americas
Reprints
Trade credit insurer Euler Hermes S.A. on Thursday said it is launching surety services in its Americas region, including the U.S., Canada and Brazil.
The company will focus on contract and commercial surety with products including performance and payment bonds, Euler Hermes said in a statement.
Paris-based Euler Hermes will partner with surety agents and brokers to provide bid, payment, performance, supply and maintenance bonds for midsize to large contractors and commercial surety bonds for compliance with local and state law or federal regulations.
“The addition of Surety is a natural evolution for Euler Hermes, as we seek to provide a full suite of risk management solutions and business growth support to our customers,” James Daly, Baltimore-based president and CEO of Euler Hermes Americas, said in the statement.
Euler Hermes is certified through the U.S. Department of the Treasury's Listing of Approved Sureties and has a global surety team of over 150 employees, the statement said.
“When competing for business, companies and contractors need a reliable global surety partner who understands their plan and their industry,” Peter Quinn, head of surety for Euler Hermes Americas, said in the statement.
Read Next
-
State National acquisition rounds out Markel portfolio, but adds credit risk
Markel Corp.’s recent acquisition of State National Cos. Inc. complements the larger company, analysts said, but Markel will be taking on some credit risks.
Related Stories
-
State National acquisition rounds out Markel portfolio, but adds credit risk
-
Credit concerns emerge for retail sector in developed economies
-
