Allianz Trade, the world leader in trade credit insurance, has reached an agreement to sell its Russian business to a trusted team of local managers currently employed by Euler Hermes Russia. The completion of the transaction remains subject to regulatory approvals.
As of February 2022, Allianz Trade has not underwritten any new business on the Russian market and has significantly reduced exposure. Building on this position, Allianz Trade has decided to sell 100% of its shares in its Russian operation, while honoring its obligations to local employees and customers.
Allianz Trade is confident that this transaction will ensure maximum stability and continuity for its employees and customers in Russia.
Under its new owners, and upon completion of the transaction, the company will operate independently under a different brand.