Euler Hermes, the world’s leading trade credit insurer, today announced it has launched Surety- including performance and payment bonds – in its Americas region (U.S., Canada and Brazil). With nearly 100 years of global surety and bonding history, Euler Hermes is one of the world’s most experienced surety providers.
‘The addition of Surety is a natural evolution for Euler Hermes, as we seek to provide a full suite of risk management solutions and business growth support to our customers,’ said James Daly, president and CEO of Euler Hermes Americas. ‘Surety bonds allow our customers to preserve liquidity, leaving cash free for potential new projects. By partnering with Euler Hermes, a customer can ensure its working capital remains intact and its business continues profitable growth.’
Locally in the U.S., Canada and Brazil, Euler Hermes will partner with specialized surety agents and brokers and will focus on contract and commercial surety. Contract surety bonds are a common requirement in the construction industry, where Euler Hermes offers bid, payment, performance, supply and maintenance bonds for mid to large contractors, while commercial surety bonds may be required by local and state law to comply with state or federal regulations. Euler Hermes offers a variety of bonds to individuals, small businesses and large companies.
Euler Hermes’ investment grade ratings (AA- S&P, A+ AM Best) are accepted by corporations and banks across the globe, making it a solid reference for contractors and surety customers’ beneficiaries and financial partners. Certified through the U.S. Department of the Treasury’s Listing of Approved Sureties, Euler Hermes can structure individualized bonds to meet specific customer needs in the more than $6B U.S. surety market.
With a global surety team of over 150 employees, Euler Hermes is uniquely capable of providing true integrated international bond programs, allowing for central management and a single contact for operations in multiple countries. The company’s worldwide presence and proprietary global market information allows it to accurately calculate risks to proactively support customers.
‘When competing for business, companies and contractors need a reliable global surety partner who understands their plan and their industry,’ said Peter Quinn, Head of Surety for Euler Hermes Americas. ‘Our team of domestic and international surety experts provides a high level of knowledge and service to help our customers compete quickly and confidently. Our personalized approach enables us to find optimal solutions for each partner.’