Euler Hermes to stop-loss (XOL) coverage start

  Euler Hermes, the world's leading credit insurers provide excess of loss (XOL) coverage from mid-September 2012, thanks to a new dedicated underwriting team based in London.

"We believe the uncertainty of today's market environment and new financing, the demand for XOL coverage of companies that their credit risk management on a standalone basis, or perhaps to increase by companies captive insurance," said Wilfried Verstraete, CEO of Euler Hermes. "These companies already manage their daily risk through effective structures of credit controls, tools and procedures for corporate governance. With XOL coverage we can help them to improve their effectiveness balance. We look forward to a new solution and new energies by XOL our deep understanding of credit risks, financial stability and proven leadership in the market. "

"London as a global center for XOL cover, where large companies are looking with large credit limits, policy specialists and market support will be recognized," added Nicolas Delzant, CEO of Euler Hermes World Agency. "XO is a tool for managing credit risk for most industries. Launching Euler Hermes XO with an experienced team, we can be flexible and innovative provider of solutions for customers. In addition, XOL tailor our range of complete solutions, credit insurance, bonding, insurance, lending and hedging transaction for political risk and trade finance are. "

Mark Moran will become the head of underwriting at Euler Hermes XOL and bring more than 15 years of credit risk and commercial underwriting experience. More recently, he served as European Vice President of AIG Europe (formerly AIG Trade Credit).

The underwriting team include Alexia Parmentier, an international risk and commercial underwriting specialist and Tim Hoggarth, whose expertise includes global underwriting primarily the design, manufacturing, forest products and emerging markets. Both were previously at AIG and AIG Europe UK.