Euler Hermes, a credit insurer and member of the Allianz Group, has signed a cooperation agreement with Qatar Insurance Company and its subsidiaries in Oman and Kuwait, to provide credit insurance services in these three countries.

These cooperation and reinsurance agreements, companies based in Qatar, Oman and Kuwait now benefit from credit insurance and flexible solution to mitigate trade credit risks.

They can also rely on the expertise and knowledge of analysts who understand their local economic environment and culture to manage their trade receivables. The first policies have already been issued, underlying the interest credit insurance raises in the Gulf region.

Euler Hermes said that it is further strengthening its operations in the Gulf region, after opening an office in Dubai in early 2007 and signing co-operation agreements with local partners in the United Arab Emirates, the Kingdom of Saudi Arabia and Bahrain.