Credit insurer Euler Hermes, a unit of Assurances Generales de France SA (12592.FR), said nine-month revenue slipped 0.7% following the loss of a significant policy in the UK.
Revenue was Ђ1.42bn in the January to September period compared with Ђ1.43bn a year earlier. Revenue from its core credit insurance business was stable at Ђ1.36bn.
Euler Hermes said countries where it has launched as part of its international development policy reported proforma revenue of Ђ21m. "The strongest contribution to this growth comes from Central and Eastern Europe," the company said in a statement.
Revenue from Euler Hermes' factoring business was Ђ63.3m in the first nine months, compared with Ђ69.3m in the same period of 2003.
Source: Dow Jones
