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BUENOS AIRES, Argentina Trade credit insurer Euler Hermes S.A., a unit of Allianz S.E., has opened a branch in Argentina.
The Buenos Aires office of Euler Hermes Argentina is situated in a "very important market for both the Euler Hermes group and our clients that are looking to trade to and from Latin America," said Clemens von Welchs, chief executive officer of Paris-based Euler Hermes, in a statement.
"The Latin American region has a very high economic growth potential and offers enormous opportunities for exporters," he said.
The new office is the group's third subsidiary in Latin America and by the end of this year Euler Hermes expects to be in countries representing 75% of the region's gross domestic product, according to Mr. von Welchs.