EULER HERMES RE RATED AA- BY STANDARD & POOR’S

Switzerland-based reinsurer Euler Hermes Re has been handed an AA- financial strength rating by Standard & Poor’s. The captive reinsurer of France-based Euler Hermes Group has been handed a stable outlook based on being a core operating company of its parent. “By centralising the reinsurance needs of all of Euler Hermes legal entities, Euler Hermes Re’s reinsurance cover matches the company’s global reach, which is key to Euler Hermes’ risk management. During the first half of 2014, Euler Hermes posted a net profit of €173m, which represented a 19% year-on-year increase compared with the first-half of 2013.