Germany-based credit insurance management services provider Euler Hermes has opened its new subsidiary, Euler Hermes World Agency, specifically created to meet the needs of multinational companies.

Based in Paris, the Euler Hermes World Agency is manned by a central team supported by its regional teams, all dedicated to multinational groups. The new subsidiary will provide international companies with a single relationship manager to help them manage all their accounts receivable at a global level.

Along with the creation of the world agency, Euler Hermes has set up a centralized information, risk and commercial underwriting, debt collection and account management information technology platform which can be accessed by clients from anywhere in the world.

Clemens Weichs, CEO of Euler Hermes, said: This new organization marks another step forward in supporting multinational companies in their international development.