13/07/2021 08:44
Topic:
Belarus
Heike Kensmann
|
Dear colleagues,
We, too, are intensively dealing with the current political and economic developments in Belarus and the resulting international reactions. Our exporters are of course required to adapt to the current sanctions situation. So far, there has been no formal change in the cover policy (however, for MLT business we are already at CBC). However, the applications are always carefully assessed in the light of the very current situation when making decisions and in depth assessments of the very specific situation as regards sanctions and corruption are undertaken case by case. We also consider a further deterioration of the macroeconomic situation, both due to the sanctions and the tense domestic political situation, to be probable.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
14/07/2021 06:05
Topic:
EU sanctions against Belarus
Heike Kensmann
|
Dear colleagues,
We, too, are intensively dealing with the current political and economic developments in Belarus and the resulting international reactions. Our exporters are of course required to adapt to the current sanctions situation. So far, there has been no formal change in the cover policy (however, for MLT business we are already at CBC). However, the applications are always carefully assessed in the light of the very current situation when making decisions and in depth assessments of the very specific situation as regards sanctions and corruption are undertaken case by case. We also consider a further deterioration of the macroeconomic situation, both due to the sanctions and the tense domestic political situation, to be probable.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
10/11/2021 10:03
Topic:
Zambia
Heike Kensmann
|
Dear members,
Traditionally, our cover volume on Zambia is very low and private sector only. Our overall payment experience is satisfactory. We have no experience with Zambia Electricity Supply Corporation Limited.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
02/01/2023 01:02
Topic:
Country Cover policy on Egypt
Heike Kensmann
|
Dear Shivam, dear colleagues,
We also recognized some increase in overdues in the past couple of months, but no increase in claims. We are carefully observing the developments in the country, and it seems it relates to the foreign currency policy of the country.
Our cover facilities towards Egypt remains as follows (please see also our website: https://www.agaportal.de/en/laenderinfo/land/aegypten):
Grading: 5/7
ST: CBC
MLT: P: CBC, CBG on CBC / C: NR, CBG on CBC
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
24/04/2024 05:46
Topic:
Inquiry about your action or measure for Israel-Iran
Heike Kensmann
|
Dear colleagues,
We are following the current developments very closely, but have not changed our cover policy for the two countries.
We are open to business in Israel without any restrictions, but we do not provide cover for business with Iran.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
29/05/2024 07:04
Topic:
Export Credit Insurance and Political Risk Insurance in Myanmar
Heike Kensmann
|
Dear colleagues from THAI EXIM,
Thank you for contacting us. Basically we provide cover for Myanmar on a case by case basis, but we do not see a significant demand for it.
Please feel free to contact us again.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
20/08/2024 06:52
Topic:
Underwriting Guidelines and SOP in Response to Country Risks
Heike Kensmann
|
Dear Colleagues,
Global developments are monitored closely by our team of country risk experts. In case of rising risks (e.g. the Russian invasion in Ukraine) we propose adjustments to our cover policy to our interministerial committee which decides on a case by case basis. Our underwriters then implement the decision of the interministerial committee (e.g. by suspending credit limits). We do not have a standard list of factors taken into consideration or a fixed time frame. Decisions are taken individually depending on the circumstances in the respective country.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
13/06/2025 07:07
Topic:
Inquiry - Egypt’s Country Risk
Heike Kensmann
|
Dear colleagues,
We did not change our cover policy recently: Our current short-term cover policy for transactions up to 360 days allows for cover case-by-case for public sector transactions, particularly for projects enhancing economic development. For private sector transactions, cover would be taken into consideration based on sound buyer information..
Our payment experience improved in the aftermath of the financial crises in 2023/2024, and our claims situation in Egypt has been stable in recent years.
Please feel free to contact us for any further information or to look at our country information website on Egypt.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
31/03/2026 02:53
Topic:
Suriname - Cover policies
Heike Kensmann
|
Dear colleagues,
In the ST business our experience with smaller limits on private buyers has been generally positive, and transactions have proceeded without any significant payment delays. We do not have experience with public buyers, including those in the energy sector.
Under single transaction cover for M/LT transactions we have no significant experience because there have been neither any new covered transactions nor even demand for cover. At present, we register just one small transaction (single-digit million euro amount).
The first due instalment was paid on time.
Our current cover facilities and commitments towards Suriname are as follows:
Country risk category: 7/7
ST: P: off cover
C: CBC
M/LT: P: off cover
C: CBC (small amounts only)
For more details, please see on our homepage: Suriname
ST commitments: EUR 0.4 million
M/LT commitments: EUR 0.7 million
No overdues, claims or offers.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
02/06/2026 10:13
Topic:
Vietnam: corporate risk, long term transactions
Heike Kensmann
|
Dear colleagues,
According to our cover policy for Vietnam we accept MLT corporate business of up to EUR 5 million based on Vietnamese accounting standards. Bank security is required in case insufficient creditworthiness.
For MLT transactions of more than EUR 5 million balance sheets according IFRS standards are requested. Bank security is required; exception is possible in case of a good creditworthiness.
Good but few experiences so far.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
07/08/2026 11:58
Topic:
ST Cover Policy - Gulf Region and Israel
Heike Kensmann
|
Dear colleagues,
Please find below our replies:
Has your institution revised its underwriting policy for any of the above markets since the escalation of the conflict? If yes, please indicate whether you have:
As of now, underwriting policy for short term cover has not been revised.
How would you describe your institution's current risk appetite for these markets compared with the pre-conflict period?
Unchanged for short term cover.
What are currently considered to be the most significant risks associated with these markets?
Increased payment risks resulting from negative impacts on buyers’ liquidity.
Have you introduced any additional underwriting requirements for new transactions in these markets?
As of now, underwriting requirements for short term cover have not been changed.
Have you introduced any changes in the administration of existing covered transactions (e.g. amendments, extensions or claims handling) in the affected markets?
As of now, changes in the administration of existing covered transactions have not been introduced for short term cover.
Have you encountered any operational or compliance-related issues (e.g. sanctions, banking/payment channels or money transfers) affecting the ability to support / cover new or existing transactions in these markets?
As of now, operational or compliance-related issues as described above have not been encountered for short term cover.
Have you observed any changes in demand from exporters or commercial banks for cover relating to these markets since the beginning of the conflict?
As of now, changes in demand from exporters for cover have not been encountered for short term cover.
Have you observed any changes in payment behaviour or claims experience in these markets since the beginning of the conflict?
As of now, significant changes in payment behaviour or claims experience have not been encountered for short term cover.
Which sectors have been most affected by the change in your institution's risk assessment as a result of the conflict?
No specific sectors have been affected.
Are you currently considering any further changes to your underwriting policy or country risk approach for these markets that exporters and financial institutions should be aware of?
As of now the current situation and the ongoing development in the region are closely monitored. Further changes to underwriting policy or country risk approach may be considered, depending on further development.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |