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The origins
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Settling as the world’s leader
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Becoming Euler Hermes
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A strong expansion
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Becoming more digital
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Acquisition by Allianz
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Becoming Allianz Trade

Our origin dates back from the creation of SFAC in France in 1927. During the following decades, SFAC prospered and started progressively to expand by acquiring COBAC in 1993 – a Belgian company created in 1929 – and Trade Indemnity in 1996 – a UK company created in 1918.
It allowed SFAC to become the world’s leader in trade credit insurance.

In 1998, SFAC continued expanding by acquiring in ACI – created in the US back in 1883 – and SIAC – an Italian company created in 1927. The same year, Allianz bought AGF, shareholder of SFAC. SFAC became Euler-SFAC.
In 2000, Euler got listed on the Paris Stock Exchange and then acquired Hermes in 2002, the world’s fourth trade credit insurer.

In 2003, the Group and all its subsidiaries adopted the name Euler Hermes, before continuing to expand in Asia Pacific, Middle East and Latin America, but also in Europe by raising stake to COSEC, the market leader in Portugal to 50% in 2007.
In 2008, we created World Agency, a dedicated global entity working specifically for multinationals.





Allianz Trade is the global leader in trade credit insurance and a recognized specialist in the areas of surety, debt collection, fraud insurance, structured trade credit and political risk. Our proprietary intelligence network is based on instant access to data of 289 million corporates.
We give companies the confidence to trade, and be paid. We compensate your company in the event of a bad debt, but more importantly, we help you avoid bad debt in the first place. Whenever we provide trade credit insurance, surety bonds or other finance solutions, our priority is predictive protection. And when the unexpected arrives, our AA credit rating (Standard and Poor’s) means we have the resources, backed by Allianz, to provide compensation to maintain your business.
Our global team of macroeconomists and sector analysts works on economic intelligence, market knowledge and industry risk analysis to help our customers better anticipate, analyse and respond to changes in market conditions and shape new opportunities ahead of the competition.
Customer obsession is what leads us. We focus on understanding your needs, your markets, your challenges and your expectations for tomorrow. Our goal is to support your short and long term goals in order to help you make better-informed business decisions.



Our Corporate news
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31 March
Allianz Trade announces changes in leadership teams
Allianz Trade, the world leader in trade credit insurance, announces changes in its leadership teams.
Read more18 March
Allianz Trade Insolvency report 2025
Will global business insolvencies ever stop rising? Allianz Trade expects two additional increases in 2025 and 2026.
Read more11 March
Allianz Trade x Inclusive Brains: Mind-controlled keyboard
Allianz Trade & Inclusive Brains develop a non-invasive AI system to send messages without the need to touch or to speak to give people with disabilities more autonomy.
Read more

Come and join a place of constant learning and development, where people are at the heart of each and every decision. A place where employees are encouraged to be ambitious and to continuously challenge themselves.