Text of the news

Global Finance is a monthly magazine for corporate leaders, bankers and investors with a

readership in 163 countries.


"Trade credit insurance is a valuable financial management tool that helps businesses

identify the best customers and protect cash flow essential to company operations and

sustainability," said Wilfried Verstraete, chairman, Euler Hermes Group. "It is an honor for

our services and customer focus to be recognized by industry colleagues worldwide."


According to Joseph D. Giarraputo, president and publisher of Global Finance, "We're

certain the results will prove useful as our readers assess their insurance and risk

management needs and look to identify 'best-of-class' providers in the months ahead."


In its awards announcement Global Finance noted that, "the need for competent, versatile

and financially sound insurance and risk providers is at an all-time high...the world has

become more complex … (with) challenges to margins from intense competition and

globalization… (and) difficult and evolving risk issues in every corner of the globe."


Top insurers were recognized overall and by coverage in six regions of the world, including:

US/Canada, Europe, Central/Eastern Europe, Latin America/Caribbean, Asia Pacific and

Middle East/Africa. Winners were selected by a panel of 14 prominent risk management and

financial executives at major companies headquartered in each geographic region of the

world, and a survey of the publication's readers. Award criteria included


  • innovation/creativity
  • capacity
  • pricing and coverage terms
  • financial security/stability
  • reach
  • service delivery on claims handling and pre-loss service.
In addition to Euler Hermes' selection as best global trade credit insurer, Allianz was named

best general liability and best directors and officers (D&O) insurer.

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