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Euler Hermes
Founded in 1917, Euler Hermes originated as a trade-credit insurer serving European exporters and was fully absorbed by Allianz SE in 2018, consolidating its...
Euler Hermes
Founded in 1917, Euler Hermes originated as a trade-credit insurer serving European exporters and was fully absorbed by Allianz SE in 2018, consolidating its operations under the parent's asset-management umbrella. CEO Aylin Somersan Coqui presides over an entity that retains its distinct brand as Allianz Trade, with underwriting operations spanning over 50 countries and a historical book of business built on insuring corporate receivables. The investment portfolio reflects an insurance general account tilted toward private credit and real assets. Known positions include a private-debt portfolio with global exposure and wind-farm financings across Europe (public record). The firm's real-estate footprint is anchored by Tour First, a landmark office tower in Paris's La Défense district, alongside owned commercial properties in Hamburg and Owings Mills, Maryland. Joint ventures extend the firm's reach — a partnership with MAPFRE operates the Solunion credit-insurance platform serving Spain and Latin America, while a cooperation agreement with China Pacific Property Insurance targets credit-insurance products in China. Euler Hermes employs a decentralized model with regional headquarters handling distinct geographic mandates. The North American base in Maryland manages the firm's largest commercial-property asset in the United States, while the Hamburg office anchors continental European operations. The firm's economists participate regularly in YPO events and collaborated with the German-Indonesian Chamber of Industry and Commerce on export-financing conferences. A partnership with Save the Children International functions as the firm's primary philanthropic vehicle. The firm's structural differentiator lies in its embedded position within Allianz's insurance float. This capital base funds a private-markets allocation that external LPs cannot replicate — a permanent pool of liabilities matched against long-duration credit and infrastructure exposures. The 2018 full acquisition by Allianz removed minority shareholders and simplified governance into a direct subsidiary.
General information
Firm type
Insurance
Year founded
1917
AUM
Undisclosed
Location
Region
Europe
Country
France
City
Paris
Corporate office
1 Place des Saisons, 92048 Paris La Défense, France
Additional offices
Hamburg, Germany · Owings Mills, MD, United States
Principals
Aylin Somersan Coqui
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Euler Hermes?
Investment management is overseen within Allianz SE's asset-management division, which handles the general-account portfolio for Euler Hermes alongside other Allianz insurance subsidiaries. CEO Aylin Somersan Coqui leads the overall Euler Hermes operating business but does not directly manage the investment book. Allianz Investment Management SE and PIMCO, also part of Allianz Group, execute the majority of portfolio decisions.
How is Euler Hermes structured relative to its parent Allianz SE?
Euler Hermes became a fully owned subsidiary of Allianz SE in 2018, when Allianz acquired the remaining minority shares it did not already hold and delisted the firm from Euronext Paris. It now operates as Allianz Trade, maintaining its brand identity while fully integrated into Allianz's financial reporting and asset-management architecture. The Paris headquarters continues to anchor global trade-credit insurance operations.
Does Euler Hermes participate in fund commitments or only direct deals?
Euler Hermes invests predominantly through direct positions consistent with an insurance general account — direct lending to corporations, direct real-estate equity in commercial properties like Tour First, and project-finance-style wind-farm investments in Europe. Fund commitments to third-party GPs are not a disclosed primary allocation method, although Allianz group-level vehicles may co-invest alongside external managers.
What investment stages does Euler Hermes typically target?
Euler Hermes does not target venture or growth equity stages. The investment portfolio focuses on mature, income-producing assets: directly originated private credit to mid-market and large-cap borrowers, operational infrastructure projects (wind farms), and stabilized commercial real estate. This aligns with the liability-matching requirements of an insurance balance sheet.
Which geographies does Euler Hermes's investment portfolio cover?
The firm's investment footprint spans Europe, North America, and Asia. European exposure includes commercial real estate in Paris and Hamburg alongside infrastructure project finance. The North American headquarters in Maryland houses a regional investment capability. Joint ventures with MAPFRE in Latin America and a cooperation agreement with China Pacific Property Insurance extend the strategic reach, though portfolio-level Asian holdings are not publicly detailed.
Does Euler Hermes maintain philanthropic structures, and how are they separated?
Euler Hermes maintains a corporate partnership with Save the Children International, focused on global children's rights and humanitarian programs. This operates as a corporate philanthropy initiative rather than a separate foundation with independent governance. Allianz SE also runs broader group-level philanthropic programs that may coordinate with Euler Hermes activities.
What is Euler Hermes's known posture on co-investments alongside external GPs?
Euler Hermes does not publicly market a co-investment program for external LPs. As an insurance-owned allocator, its capital derives entirely from Allianz's balance sheet and policyholder liabilities — it is not a fund manager raising third-party capital. Allianz Group occasionally co-invests with external managers at the group level, but Euler Hermes-specific co-investment vehicles are not disclosed.
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