Friday, November 24, 2017

Euler Hermes names senior executives to lead expansion

Trade credit insurer Euler Hermes has appointed Clemens Philippi (pictured left) as chief executive officer of its Asean business and Benoit Ganzmann as CEO of Euler Hermes China, based in Shanghai, with effect from September 1.

Philippi (pictured), who has responsibility for the company’s activities in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, was the deputy chief executive officer for Allianz Global Corporate & Specialty (AGCS) Japan before being promoted to regional head of market management.

Prior to joining Allianz, Philippi held various senior positions with AON Luxembourg and London. Based in Singapore, his appointment is with effect from August 17.

Ganzmann previously worked for Euler Hermes in China for several years before being promoted regional risk director in 2015. He succeeds Victor Jiang, who joined Allianz China General Insurance as chief transformation officer in July.

Benoit Ganzmann

The hires underpin Euler Hermes’ long-term growth strategy in the region, where it sees strong opportunity — particularly in China.

“China’s large-scale credit insurance market has significant growth potential,” said Wilfried Verstraete, chairman of the Euler Hermes management board. “As well as being the second-largest economy, China is the largest exporter in the world since joining WTO in 2001. With the roll-out of its Belt and Road Initiative, and the fact that more Chinese companies are becoming global in reach, the need for credit protection is expected to rise considerably.”

 

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