The credit insurer and provider of other diverse financial and management services, Euler group, has recorded a rise of 15% in their consolidated first half turnover for 2001 to 647.7m. The strongest growth was recorded by the Euler-Allianz group's new London-based subsidiary for transnational business, Euler & Hermes International, which lifted its revenues from 3.4m at the end of June last year to 30.4m at the same date this year. On its home French market, the group's performance was relatively flat, with a 0.7% increase in turnover to 177m. Euler said, however, that new business was growing despite a drop in premium rates on existing contracts in response to low claims levels. The other main contributor to revenue growth was the group's factoring business, which saw its revenues rise 23.9% to 70.4m. Euler claims to be the leading integrated factoring group in Europe.
Source: PR Newswire
