Credit insurer Euler Hermes is to team up with fellow Allianz group company Bajaj Allianz to provide credit insurance for the Indian market.

The deal will allow Euler Hermes to insure both Indian and international companies against credit risks.

The number of Indian credit risks has been rising for years, showing how important this market is for our customers. Our customers’ businesses will now be covered even more effectively in the Indian market, said Jochen Dumler, Euler Hermes Kreditversicherung’s management board member in charge of international business and responsible for the Indian market within the group.

Credit insurance specialists operating from Mumbai will assess credit risks on an ongoing basis. Risk specialists will deal with inquiries from both local customers and existing Euler Hermes customers who export to India. A commercial team will sell credit insurance products to Indian companies and provide the local service.

Euler Hermes receives some 20,000 credit inquiries each day and maintains a risk database with information on 40 million companies.