Allianz bought out minority interests of Euler Hermes

Allianz becomes the sole shareholder of the leader in the credit insurance market

The German group insurance has just hit a big shot by buying back the minority interests of Euler Hermes. Allianz now holds 94,91 % of the share capital and voting rights theoretical to the credit insurer.

Allianz, as the sole shareholder of Euler Hermes

The German giant of the insurance, Allianz, announced that it had completed the squeeze-out procedure of Euler Hermes rating. In practice, the insurance group is now the sole shareholder of the credit insurer. A new one, which was expected because Allianz had already indicated that it wanted to increase its participation in Euler Hermes. So it is now done. Following a public purchase offer, the group acquired the minority interests. Then he held last year 63 % of the shares, it now has 94,91 % of the share capital and voting rights theoretical.

Allianz is therefore investing in a company that she already knows very well. Argus Insurance also points out that the German group of insurance had decided fifteen years ago to merge with Euler and Hermes, and the respective subsidiaries of the group AGF.

Euler Hermes, leader in credit insurance market

In total, the buyout of these minority represented an investment of 1.85 billion euros to Allianz. For Euler Hermes, it is a very good news. «This transaction is an important step in the strategy of the Allianz group to deploy capital in strategic activities such as Euler Hermes, which delivers an operational performance strong «, he says in a press release. With Euler Hermes, Allianz holds the world number one in credit insurance. December 31, 2016, a credit insurance company, French was leading with 36.2% of worldwide market share. Just in front of Atradius (26 %) and Coface (18.6 per cent). Euler Hermes is also the market leader of the business recovery. All for a turnover of 2.6 billion euros in 2016.

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