Euler Hermes has already insured nearly PLN 1.9 trillion of receivables of Polish companies

WARSZAWA – NOVEMBER 2018 r.: Euler Hermes, the  leading global provider of trade receivables insurance, bonding and debt collection solutions, celebrates its 20th anniversary in Poland. Since 1998 Euler Hermes has been co-creator of the receivables market at the time securing the Polish company's turnover of over  PLN 1.9 trillion and paying them compensation for the amount of PLN 2.2 billion, which significantly contributed to the development of Polish companies and the success of the economic transformation.

In 1998, Euler Hermes in cooperation with Allianz offered to business in Poland insurance solutions known in highly developed countries, tailored to the specificity and individual needs of companies selling on deferred payment terms. Euler Hermes has built its leading position on the Polish market of trade receivables insurance, bonding and B2B debt collection based both on organic development – its own sales network and on cooperation with brokers and agents. Today, Euler Hermes is the only international receivables insurer operating in Poland on the basis of an insurance license as an insurance company. Polish companies have gained access to international competences and services not only in the field of receivables insurance or debt collection, but also internationally recognized insurance guarantees, trade reports and specialist services in the field of commercial law.

The flagship receivables insurance offered by Euler Hermes, created especially for the needs of Polish entrepreneurs, is the "All Inclusive" policy, dedicated primarily to companies from the SME sector. For large enterprises, a trade credit risk insurance with a debt collection option - INTPOL has been developed. On the other hand, international corporations operating in Poland have at their disposal solutions and services within the Euler Hermes World Agency programme.

- Polish enterprises are developing and courageously go beyond the borders of the country. This results in a change in the needs for securing transactions, and among insurers determines greater exposure to the granting of guarantees for foreign transactions or debt collection. It is natural that as part of an international group we have a competitive advantage to monitor local markets and the condition of industries, and help Polish entrepreneurs with feedback. On the other hand, internationalisation intensifies the process of entering our local market of foreign companies, which results in shortening of supply chains, greater price pressure, and elimination of the existing local advantages of Polish companies. At this point, it is important to take care of the profitability of the business, protect margins, increase them through contracts with reliable and effective customers, which is our role as an insurer of their receivables – points out Paul Flanagan, President of the Management Board of Euler Hermes.

Euler Hermes has the largest database and knowledge about entities, sectors and economic trends in Poland - 80% of the data is no older than 3 months. Therefore, it has a unique opportunity to prepare trade reports, which enable verification of potential contractors not only through the prism of financial results, but also through the analysis of their debt, payment morality - willingness to settle liabilities, capital and personal ties, or legal events. Access to current, round-the-clock information about the contractor and the industry is provided by a dedicated Receivables Analysis Program. 

The leading position on the receivables insurance market obliges to a continuous development and anticipating market trends in order to provide clients with the best service and comfort of business relations through the implementation of innovative solutions.
In the third decade of its activity on the Polish market, Euler Hermes enters into a process-based approach to servicing business needs, intensifying the computerization of data analysis processes. All this translates into a faster and more effective flow of information and a number of facilitations in the way of placing orders and executing contracts on-line. For example, a new international system for servicing insurance guarantees - Avalis, which has been available for Polish entrepreneurs for several weeks now. As part of it, Polish entrepreneurs can handle applications for insurance guarantees all over the world on an ongoing basis, which is especially important for the success of our exporters. 

Euler Hermes is now entering a new chapter with a new plan of strategic development and rebranding of the entire Euler Hermes Group. The strategic development plan until 2021 assumes expansion beyond the traditional and oldest business line, i.e. trade credit insurance , towards complementary and innovative products and business lines. The goal is to provide the best assessment of what will happen tomorrow so that companies and their business leaders can better anticipate, analyze and respond to changes in business performance and market conditions to avoid bad debts. For this purpose, technology laboratories have been set up in Paris and London, among others, working on new analytical tools. The new goal and new positioning is expressed in the new brand promise "Confidence in Tomorrow", which is to predict trade and credit risk today in order to protect cash flows tomorrow. 

  • 20 thousand customers,
  • PLN 1.9 trillion of insured turnover,
  • 106 thousand compensations paid, of the value exceeding PLN 2.2 billion, including nearly PLN 2 billion from insurance of trade receivables
  • PLN 7.3 billion recovered from debt collection activities

The Euler Hermes Group in Poland is part of Allianz, one of the largest financial institutions in the world. It operates through three entities: Towarzystwo Ubezpieczeń Euler Hermes, Euler Hermes Collections and Euler Hermes, Okurowska-Minkiewicz, Maliszewski - Kancelaria Prawna. It employs approximately 400 specialists and experts in the Warsaw headquarters and five regional offices.


Contact for the media:

Euler Hermes
Grzegorz Błachnio
tel. 601-056-830
multiAN PR
Artur Niewrzędowski
tel. 509-433-874


Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years of experience, the company offers business-to-business (B2B) clients financial services to support cash and trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92% of global GDP. Headquartered in Paris, the company is present in over 50 countries with 5,800+ employees. Euler Hermes is a subsidiary of Allianz, and rated AA by Standard & Poor’s and Aa3 by Moody’s. The company posted a consolidated turnover of €2.6 billion in 2017 and insured global business transactions for €894 billion in exposure at the end of 2017. Further information: LinkedIn or Twitter @eulerhermes.

The Euler Hermes group has been present in Poland since 1998. Towarzystwo Ubezpieczen Euler Hermes SA offers trade receivables and insurance guarantees. At the same time, the second company operating on the Polish market - Euler Hermes Collections Sp. z o. o. offers debt collection, trade reports, risk assessment and industry analysis programmes. Customer service is provided by Euler Hermes Services Polska Sp. z o. o. z o. o.

Cautionary note regarding forward-looking statements: The statements contained herein may include 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 that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Euler Hermes Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) persistency levels, (v) the extent of credit defaults, (vi) interest rate levels, (vii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (viii) changing levels of competition, (ix) changes in laws and regulations, including monetary convergence and the European Monetary Union, (x) changes in the policies of central banks and/or foreign governments, (xi) the impact of acquisitions, including related integration issues, (xii) reorganization measures, and (xiii) 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. The company assumes no obligation to update any forward-looking statement.