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Euler Hermes Kreditversicherung

Peter Silberschmidt joins Euler Hermes Switzerland - Managing Director of Swiss ERG (Swiss Export Risk Guarantee) moves to global market leader in credit insurance

Zurich (ots)

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Peter Silberschmidt, Managing Director of ERG
(Swiss Export Risk Guarantee), is to join Euler Hermes, Switzerland's
leading credit insurer. 
Peter Silberschmidt has been active for Euler Hermes since the
beginning of May 2006, and will primarily be involved in the Business
Development and Client Relations areas. "I look forward to the new
position with a strong partner," comments Peter Silberschmidt.
For Jules Kappeler, Director of Sales & Commercial at Euler Hermes
Switzerland, collaboration with the former head of ERG is a stroke of
good luck: "We are delighted that we have been able to gain Peter
Silberschmidt with his extensive experience in the export field."
"The timing in particular is perfect," adds J_rn Volk, Managing
Director of Euler Hermes Switzerland. "Many export-oriented companies
now realise that credit insurance is a modern and efficient
risk-hedging tool for the export business." This trend is leaving its
mark. Last year Euler Hermes Switzerland once more posted strong
growth, recording a 36 percent rise in premiums.
Euler Hermes Switzerland
The Zurich branch of Euler Hermes Kreditversicherungs AG serves
policyholders in Switzerland. Euler Hermes Services AG performs local
credit checks and monitors the creditworthiness of Swiss companies.
The company also provides commercial debt collection services for our
clients. Thanks to successful development in Switzerland, Euler
Hermes also opened an agency in Lausanne on 1 February 2005. This
move reflects the company's commitment to providing a local presence
and on-the-spot risk analysis services in the client's neighbourhood.
Our clients benefit from our local presence in Switzerland as well as
from the strength of the Euler Hermes Group and its global reach. In
Switzerland Euler Hermes employs some 40 persons in Zurich and
Lausanne, who were responsible in 2005 for analysing and guaranteeing
around 46,000 risks.
Euler Hermes is the world-wide leader in credit insurance and one
of the leaders in bonding and guarantees. With 5,400 employees in 43
countries, Euler Hermes offers a complete range of services for the
management of customer receivables.
Euler Hermes, subsidiary of AGF and a member of Allianz, is listed
on Euronext Paris. The group and its principal credit insurance
subsidiaries are rated AA- by Standard & Poor's.

Contact:

Press Contact
Euler Hermes Switzerland:
Tödistrasse 65
8002 Zurich
Marco Ialuna
Tel: +41/44/283'65'65
E-Mail: communications.ch@eulerhermes.com
Internet: www.eulerhermes.ch