A report on the export insurance programmes and factoring in Germany
After a wave of consolidation, only three major sources provide private export credit insurance cover in Germany: Euler Hermes, a subsidiary of insurer Allianz; Allgemeine Kredit Coface, a subsidiary of the French Coface insurance group and Atradius (formerly known as Gerling NCM Credit and Finance), majority-owned by Swiss Re and Deutsche Bank. In general, each of these companies will insure total exports during a specified period to a particular country. They insure individual export deals only in exceptional cases. A consortium of two private companies, Euler Hermes Kreditversicherung, (Hermes), and PwC Deutsche Revision, an affiliate of PricewaterhouseCoopers, administer the federal government’s export insurance system. Applications for coverage must be filed with Hermes.
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