Allianz Trade
An Allianz Group business providing trade credit insurance, receivables protection and commercial risk-management services.
Last updated August 22, 2026
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Overview
Allianz Trade is the international trade credit insurance and business-risk-management brand of Allianz Group. It was introduced in 2022 as the successor to Euler Hermes, a long-established network of credit-insurance businesses assembled from national companies in Europe, the United States and other markets. The business helps companies sell goods and services on credit while managing the possibility that customers will pay late, default, become insolvent or be prevented from paying because of political or economic events. Its principal activity is trade credit insurance. Policies can protect insured receivables arising from domestic or cross-border commercial transactions and may provide indemnification when a buyer experiences insolvency or prolonged default. Depending on the product and market, associated services can include customer-credit assessment, exposure monitoring, collections and claims administration. Political-risk protection can address non-payment connected with currency restrictions, political unrest, expropriation or other country-level events. Allianz Trade also provides surety bonds and guarantees. These instruments support contractual obligations among businesses, customers, suppliers and other counterparties. A guarantor undertakes to compensate an obligee if the insured business fails to perform specified obligations, subject to the applicable terms. The brand additionally offers business-fraud protection, debt-collection services, credit information, receivables-management support and related trade-finance capabilities. The business serves companies rather than retail consumers. Its customers include exporters, manufacturers, wholesalers, service providers, financial institutions and other enterprises that extend payment terms to commercial buyers. Credit intelligence and economic research are used to inform underwriting, customer-limit decisions and country or sector risk assessments. Allianz Trade states that it monitors the financial health of more than 80 million companies and operates in over 50 countries. The business is headquartered in Paris and is a wholly owned subsidiary or business of Allianz SE. Its historical identity remains closely associated with the Euler Hermes name, while the Allianz Trade branding emphasizes its connection with the wider Allianz organization and its broader trade-risk-management offering.
History
Allianz Trade developed from a collection of national trade credit insurers that were established at different points in the late nineteenth and twentieth centuries. Important predecessors included ACI in the United States, Hermes Kreditversicherungsbank in Germany, Trade Indemnity in the United Kingdom, SFAC in France, SIAC in Italy and COBAC in Belgium. These businesses were created to address the commercial risk that a seller might deliver goods or services on credit and not receive payment. The corporate history of Euler Hermes began with the consolidation of several of these national operations. SFAC acquired COBAC in 1993 and Trade Indemnity in 1996, followed by ACI and SIAC in 1998. In the same year, Allianz acquired AGF, which was a shareholder of SFAC. The holding company Compagnie Financière SFAC was subsequently renamed Euler. Euler became publicly listed on the Paris Stock Exchange in 2000 and acquired Hermes, the leading German trade credit insurer, in 2002. In 2003, the group and its operating subsidiaries adopted the Euler Hermes name. Euler Hermes expanded its international presence during the following decade. Between 2004 and 2009 it opened or developed operations in Asia-Pacific, Latin America and the Middle East, including Kuwait, Oman, Qatar and the United Arab Emirates. It also increased its ownership in COSEC, the Portuguese market leader, in 2007. In 2013, Euler Hermes and MAPFRE established Solunion, a joint venture serving Spain and Latin America. That year Euler Hermes also increased its stake in ICIC, an Israeli credit insurer, to 50 percent. The business became more closely integrated with Allianz after Allianz acquired the remaining Euler Hermes shares in 2018. Euler Hermes then operated as a wholly owned Allianz Group business while retaining its specialization in trade credit insurance, credit intelligence, collections, surety and related services. In March 2022, the organization changed its brand name to Allianz Trade. The rebranding was intended to make the Allianz relationship clearer and to present the business as a broader trade-risk-management platform rather than only as a traditional credit insurer. Today, Allianz Trade combines insurance underwriting with commercial data, buyer-risk monitoring, economic research, collections and guarantee products. Its research function covers international trade, macroeconomic developments, payment risks, country risks and sector risks. The organization remains focused on business customers that sell on credit and need protection against commercial and political non-payment. Its international network allows it to support domestic and cross-border transactions while drawing on the broader capital, insurance and risk-management capabilities of Allianz Group.
- 2022
Allianz Trade brand launches
[2]Euler Hermes changes its global brand name to Allianz Trade.
- 2018
Euler Hermes becomes fully owned by Allianz
[1]Allianz completes the acquisition of Euler Hermes's outstanding shares.
- 2013
Solunion is created
[1]Euler Hermes and MAPFRE establish Solunion, a joint venture covering Spain and Latin America.
- 2007
Euler Hermes increases its COSEC ownership
[1]Euler Hermes increases its shareholding in Portugal's COSEC to 50 percent.
- 2004
International expansion begins
[1]Euler Hermes begins a period of international expansion, including development of operations in Asia-Pacific, Latin America and the Middle East.
- 2003
The group adopts the Euler Hermes name
[1]The group and its subsidiaries formally operate under the Euler Hermes identity.
- 2002
Euler acquires Hermes
[1]Euler acquires Germany's leading trade credit insurer, Hermes Kreditversicherungsbank.
- 2000
Euler is listed in Paris
[1]The holding company known as Euler becomes listed on the Paris Stock Exchange.
- 1998
SFAC acquires ACI and SIAC
[1]The acquisition of the American ACI and Italian SIAC further consolidates the international credit-insurance network.
- 1996
SFAC acquires Trade Indemnity
[1]The British predecessor Trade Indemnity becomes part of the expanding SFAC group.
Products and positioning
Global business-to-business trade credit insurance and receivables-risk-management provider
Commercial insurance
Trade credit insurance
Trade credit insurance protects businesses against losses on commercial receivables when customers fail to pay because of insolvency, prolonged default or other covered credit events. It enables sellers to offer payment terms with greater confidence and can support both domestic and international sales. Policies may combine underwriting, buyer-limit decisions, monitoring, claims handling and recovery services.
Specialty insurance
Political risk protection
Political risk protection addresses selected non-payment risks associated with cross-border trade, including currency restrictions, political unrest, expropriation and other country-level disruptions. It complements commercial credit protection where the buyer's inability to pay is linked to events beyond ordinary insolvency or payment-performance risk.
Receivables services
Debt collection
Debt-collection services help businesses pursue overdue commercial receivables. They can operate alongside credit insurance and receivables-risk programs, using local knowledge and established collection processes to seek payment, manage recoveries and reduce the operational burden on the insured or service customer.
Guarantees
Surety bonds and guarantees
Surety bonds and guarantees support contractual performance between a business and a customer, supplier, public authority or other obligee. The guarantor provides financial backing for specified obligations and may compensate the obligee if the business fails to perform, subject to the bond or guarantee terms.
Commercial insurance
Business fraud insurance
Business fraud insurance is designed to address selected losses connected with fraudulent activity affecting commercial operations. It forms part of Allianz Trade's wider business-risk offering alongside credit insurance, credit intelligence and receivables services.
Business information services
Commercial credit information
Commercial credit information and credit intelligence help companies evaluate buyers, set trading limits, monitor counterparties and make more informed decisions about extending payment terms. The service is supported by company data, payment-risk analysis and Allianz Trade's underwriting and research capabilities.
Economic research
Economic research
The economic research function analyzes international commerce, macroeconomic conditions, payment behavior, country risk and sector risk. Its assessments support clients and internal teams in understanding changes in the business environment and in reviewing trade exposures.
Brand decisions
2022
Rebranding from Euler Hermes to Allianz TradeStrategyBackground
The business sought a brand identity that made its relationship with Allianz more visible while expressing a broader focus on trade and commercial risk management.
Action taken
Euler Hermes changed its global brand name to Allianz Trade.
Aftermath
The organization retained its core activities in trade credit insurance, credit intelligence, collections, surety and related risk services under the new Allianz Trade identity.
2018
Allianz acquires the outstanding Euler Hermes sharesM&ABackground
Euler Hermes had developed into an international trade credit insurance group with a substantial Allianz relationship. Allianz moved to consolidate the remaining ownership of the business.
Action taken
Allianz completed the acquisition of the outstanding shares, making Euler Hermes fully owned by Allianz Group.
Aftermath
Euler Hermes continued as a specialized Allianz business before receiving the Allianz Trade brand identity in 2022.
Recent events
- 2022
Euler Hermes adopts the Allianz Trade brand[2]
Leadership change · Other
The Euler Hermes business changed its global brand identity to Allianz Trade, linking the trade credit insurer more visibly to Allianz Group.
- 2018
Allianz completes acquisition of Euler Hermes shares[1]
M&A
Allianz completed the purchase of the outstanding shares of Euler Hermes, making the trade credit insurance group fully owned by Allianz Group.
Sources6 sources
- 1Allianz Tradeen.wikipedia.org
- 2Allianz Trade announces new global brandallianz-trade.com
- 3Allianz Trade official websiteallianz-trade.com
- 4Allianz Trade in Asia Pacific appoints China CEOlivenews.co.nz
- 5Allianz Trade in Asia Pacific appoints China CEO |Business Day Ghanabusinessdayghana.com
- 6Euler Hermes launches TradeMatch to help companies identify export risks and opportunitiesgtreview.com
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