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Export Credit Guarantees at the top again

18 June 2008

  • Germany has the world’s best state export credit agancy
  • Fourth award within nine years
  • Hermes Cover reinforces German exporters’ competitiveness

German enterprises receive the best state support for their exports worldwide. Euler Hermes Kreditversicherungs-AG and PricewaterhouseCoopers AG were elected "Best Export Credit Agency 2008" (Best ECA 2008) again. The two companies handle the export credit guarantee scheme (Hermes Cover) on behalf of the government of the Federal Republic of Germany.

Since 1999 the British magazine Trade Finance has regularly named the "Best ECA" with the help of a reader survey and thus created a benchmark for all state export credit agencies. It is already the fourth time (1999, 2005, 2007, 2008) that Euler Hermes and PwC receive this special award; since 2003 they have always been among the best three ECAs and with that they strongly prove their top position.

"All ECAs are in the process of redefining their strategic position. As a consequence of the globalization the activities of the ECAs become more and more market-orientated and international. Euler Hermes wants to play a leading role in this process", explains Dr. Hans Janus, member of the Board of Management of Euler Hermes Kreditversicherungs-AG. "The fact that we tailor our cover facilities to the specific needs of our customers has been internationally recognized and acknowledged once again with this award."

Round about 15,000 readers participated in the survey. The "Best ECA" award thus mirrors the independent evaluation of the quality and performance of an ECA across all sectors of the export industry.

Export Credit Guarantees (Hermes Cover) are the most important instrument of state foreign trade support in Germany. The focal point continues to be the protection against bad debt losses especially in connection with supplies to difficult and risky markets.

Best Export Credit Agency 2008 - Winner Euler Hermes (156 KB)

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