Euler Hermes Deutschland

What Euler Hermes Deutschland does

Euler Hermes Deutschland, operating under the Allianz Trade brand since the 2017 acquisition by Allianz Group, is a Hamburg-based trade credit insurance and financial risk management provider serving German small businesses, mid-market firms, large enterprises, and multinational corporations. The company underwrites Warenkreditversicherung (trade credit insurance) protecting against buyer payment defaults, issues commercial surety bonds, guarantees, and avals (electronic and conventional), and offers Vertrauensschadenversicherung (fidelity/business fraud insurance), debt collection services, investment-goods credit insurance, and challenge insurance. The product portfolio is supported by a proprietary database covering 289 million companies that powers BoniCheck creditworthiness checks and SmartView analytics, with policy administration delivered through the EOLIS online platform, an API Developer Portal, and the Allianz Trade Pay B2B e-commerce solution.

The business operates a subscription-based premium model billed annually, segmented by customer turnover size tier (up to 6M EUR, up to 20M EUR, 20M+ EUR, and multinational), with custom quotes based on risk profile, turnover, and coverage scope. Distribution combines direct enterprise sales for large and multinational clients with digital self-serve channels (online portals, premium calculator, API integration) for the small and mid-market segments, alongside physical branch presence across Germany. The company claims worldwide market leadership in trade credit insurance with more than 75,000 customers globally and an AA credit rating from Standard & Poor's. Revenue is not publicly disclosed at the German entity level, and the business functions as a subsidiary within Allianz Group's trade credit insurance division rather than as an independently funded or publicly traded company.

Name

Euler Hermes Deutschland

Legal name

Euler Hermes Deutschland

Website

https://eulerhermes.de

Company type

Private

Founded year

1917

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Euler Hermes Deutschland (Allianz Trade) is a Hamburg-based trade credit insurer and surety provider serving German SMBs, mid-market firms, large enterprises, and multinationals. It underwrites buyer default protection, guarantees, fraud insurance, and debt collection services backed by a 289 million company database.

Ownership category

akta.pro rank

Product category

Trade Credit Insurance

NAICS

Insurance Carriers and Related Activities (524)

SIC

Insurance Carriers, Nec (6399), Surety Insurance (6351)

akta.pro primary industry

Large Commercial Package (National Accounts) (FSAJAFAC)

Keywords

• Trade credit insurance
• Surety bonds
• Debt collection
• Credit risk assessment
• Business fraud insurance

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Trade Credit Insurance Premiums: Core revenue stream from Warenkreditversicherung (commodity credit insurance) protecting businesses against payment defaults by buyers. Premiums are calculated based on risk profile, turnover, and coverage requirements.
2. Surety Bonds and Guarantees: Revenue from issuing commercial sureties, guarantees, and aval services covering various business needs from advance payment bonds to customs bonds.
3. Fraud Protection Insurance: Vertrauensschadenversicherung (fidelity insurance) protecting against embezzlement, cyber fraud, and internal/external criminal attacks with backward coverage.
4. Credit Assessment Services: BoniCheck credit checking service providing detailed creditworthiness information on business partners based on proprietary database of 289 million companies.
5. Debt Collection: Inkasso services for debt recovery with local and global solutions, professional processes, and high success rates.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Euler Hermes Deutschland, operating under the Allianz Trade brand, provides trade credit insurance (Warenkreditversicherung) that protects businesses against payment defaults by buyers, along with commercial surety bonds, guarantees and avals, and fidelity/business fraud insurance (Vertrauensschadenversicherung). The offering is complemented by debt collection (Inkasso) services, creditworthiness checking (BoniCheck), advisory services, and integrated digital platforms for policy administration and risk monitoring.

Product overview

Euler Hermes Deutschland operates under the Allianz Trade brand as a comprehensive trade credit and financial risk management platform. The portfolio centers on trade credit insurance (Warenkreditversicherung) as the core product, supported by surety bonds and guarantees (Bürgschaften, Garantien und Avale), business fraud insurance (Vertrauensschadenversicherung), and debt collection (Inkasso) services. The offering includes specialized insurance products such as investment goods credit insurance (Investitionsgüter-Kreditversicherung), challenge insurance (Anfechtungsversicherung), and B2B e-commerce solutions (Allianz Trade Pay). Digital access is provided through multiple online platforms including EOLIS for policy administration, SmartView for risk data visibility, and the Allianz Trade API for developer integration. Creditworthiness assessment is available via BoniCheck, while the Prämienrechner enables premium estimation. Advisory services and specialty offerings like Carnet A.T.A. complete the portfolio for enterprise clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Warenkreditversicherung (Trade Credit Insurance) Trade credit insurance that protects businesses against payment defaults from buyers, ensuring stable cash flow and financial stability. Offered with tailored solutions by company size from small businesses up to multinational corporations.
• Bürgschaften, Garantien und Avale (Surety Bonds, Guarantees, and Avals) Commercial surety bonds and guarantees covering various business needs from advance payment bonds to customs bonds, provided for businesses across Germany.
• Vertrauensschadenversicherung (Business Fraud Insurance) Insurance protection against embezzlement, cyber fraud, and internal/external criminal attacks on businesses, including backward coverage (Rückwärtsdeckung).
• E-Avale (Electronic Guarantees) Electronic guarantees offering enabling digital processing and management of surety bonds for businesses.
• KTV Smart Surety product specifically designed for small businesses requiring commercial guarantees.
• BoniCheck Creditworthiness checking service providing detailed credit information on business partners, leveraging Allianz Trade's proprietary database and comprehensive information network.
• Investitionsgüter-Kreditversicherung (Investment Goods Credit Insurance) Specialized credit insurance protecting businesses against payment defaults for investment goods purchases.
• Inkasso (Debt Collection) Professional debt collection services with high success rates, utilizing numerous local and global solutions to secure outstanding payments for businesses.
• Allianz Trade Pay B2B e-commerce credit insurance solution enabling secure online business transactions and buyer credit assessment for B2B online shops.
• Anfechtungsversicherung (Challenge Insurance) Insurance protection against insolvency administrator claims seeking to recover funds received for pre-insolvency receivables.
• Allianz Trade Advisory Advisory services providing expert consultation on credit risk management and financial protection strategies for businesses.
• Carnet A.T.A. Customs document service for temporary admission of goods for trade shows and exhibitions.

Quantifiable outcome

• 75,000+ businesses protected worldwide
• +1 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Munich Re: Major global reinsurer with credit and surety reinsurance capabilities that provides reinsurance capacity to primary trade credit insurers including Euler Hermes / Allianz Trade. A capital partner as well as an adjacent industry participant.
• Aon: Global insurance and reinsurance broker with a Credit Solutions practice that intermediates trade credit and political risk insurance. Competes at the distribution layer and offers overlap in risk advisory and credit analytics.
• Marsh: Global insurance brokerage and risk advisory firm. While not a direct carrier competitor, Marsh places trade credit insurance with carriers like Allianz Trade and overlaps on credit risk advisory and due-diligence services for multinational clients.
• Zurich Insurance: Global commercial insurer with a Credit & Surety division offering trade credit insurance and bonds. Competes indirectly through overlap in commercial lines for large corporate clients in DACH and globally.
• Allianz Group: Parent conglomerate and global insurance powerhouse. While much broader in scope across P&C, life/health, and asset management, Allianz Group is the structural parent that finances and governs Euler Hermes Deutschland's global Allianz Trade operations.

Direct peers

• Credendo: Belgian-headquartered European trade credit insurer offering credit insurance, guarantees, and surety. Comparable in product scope but smaller in scale, making it a focused competitor in the DACH and broader European market.
• Atradius: Dutch/Spanish-headquartered global trade credit insurer and the third member of the global "big three" trade credit insurance carriers. Serves the same B2B customer base with comparable credit insurance, collections, and surety offerings.
• Coface: French-headquartered global trade credit insurance provider and the most direct competitor to Euler Hermes Deutschland / Allianz Trade. Offers similar trade credit insurance, surety, and business information services to multinational corporates across the same product lines and geographies.

Others

• LexisNexis Risk Solutions: Provider of data, analytics, and identity verification used in credit risk decisioning. Functions as an ecosystem enabler and potential substitute for portions of the proprietary credit data stack that Euler Hermes / Allianz Trade has built internally.

Emerging players

• Dun & Bradstreet: Global business credit data and analytics provider. While not a direct trade credit insurer, D&B's commercial data feeds directly into credit underwriting workflows similar to Euler Hermes's BoniCheck / SmartView, and increasingly powers fintech and embedded credit alternatives.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Euler Hermes Deutschland