News Article

Credit Insurance

Euler Hermes 2016 full-year results:

By CreditMan Friday, February 10, 2017

  • Revenues at €2,570 million, stable at constant exchange rates and constant scope
  • Net combined ratio at 79.8%
  • Operating income at €373 million
  • Net income at €287 million
  • Solid solvency ratio of 166%
  • Proposed dividend unchanged at €4.68 per share

“In 2016, companies faced a sluggish global economy, a slowdown in trade volumes and price competition. In addition, growth was threatened by political uncertainties and a series of unexpected events. In these volatile circumstances, Euler Hermes delivered strong results, with a net combined ratio at 79.8%,” said Wilfried Verstraete, chairman of the Euler Hermes board of management. “We kept our commitment to secure our profitability by actively managing our insurance portfolios across the globe and adjust our underwriting practices to market circumstances. The strong results form a solid underpinning from which to further roll-out the various initiatives we have launched: development of speciality products and innovative distribution solutions (digital/ banking). All these changes share a single unifying goal: better serve our customers wherever they are.”