France-based Euler Hermes, a credit insurer and member of the Allianz group, has signed a credit insurance co-operation agreement with Allianz Utama, an insurance company in Indonesia.

As a result of the agreement, Allianz Utama will be able to offer credit insurance to its export-oriented customers, who will benefit from Euler Hermes’s expertise and technical support, including direct access to the Euler Hermes global risk database and commercial debt collection network.

In addition to providing the reinsurance capacity for the activity, Euler Hermes will train and assist the Allianz sales force, which will distribute its credit insurance solutions in Indonesia.

Clemens von Weichs, chairman of the Euler Hermes management board, said: Indonesia is a country with vigorous export activity. Therefore, it represents a growth market for credit insurance, and we are delighted to develop our business in Indonesia with such a strong partner as Allianz Utama.