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Thursday, Nov 10, 2005


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Bajaj Allianz General in pact with Euler Hermes

Our Bureau

Mumbai , Nov. 9

BAJAJ Allianz General Insurance has tied up with Euler Hermes Kreditversicherungs - AG, an Allianz company to offer domestic and export credit insurance.

Bajaj Allianz will have access to the proprietary information and the risk database of Euler Hermes' 40 million customers and use their network as well as skills in the area of credit insurance.

Mr Jochen Duemler, Member of the Board, Euler Hermes Kreditversicherungs - AG said that credit insurance had not yet seen deep penetration in India. In the Asian context, India is seen as a country where more risks can be taken on, he said.

Mr Dumler said, "Our aim is to provide complete solutions related to credit insurance, including proprietary information, to ensure complete security for commercial development to our customers."

Euler Hermes is present in 40 countries, with most of the business coming from the US and Western Europe.

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