Euler Hermes enters export credit insurance market in Japan
Euler Hermes is the world's largest credit insurer and has been offering domestic trade credit insurance in Japan since 2002. Mitsui Sumitomo is one of the biggest Japanese non-life insurers and the number one domestic credit insurer in Japan. Euler Hermes and Mitsui Sumitomo will provide internationally operating companies in Japan with solutions for export credit risk management and insurance coverage. The two companies will offer export trade credit insurance, which covers short-term (up to one year) commercial risk such as buyer's insolvency and protracted default. Political risk may be covered upon client request. This latest alliance adds to an already mature relationship between Euler Hermes and Mitsui Sumitomo, as both companies have been cooperating on business ventures for over five years outside of Japan.