Al Hilal Takaful, the takaful insurance subsidiary of Al Hilal Bank, has signed a distribution agreement in Abu Dhabi with Euler Hermes,
the trade credit insurance provider.
“Our collaboration with Euler Hermes positions us to deliver the
best credit insurance solutions to our clients and will enable us to
secure a stronger position in the highly competitive takaful market,”
said Amer Daya, CEO, Al Hilal Takaful. “It also reflects Al Hilal Bank’s
broader commitment of partnering with the best worldwide institutions
to provide unrivalled products and services to its valued customers.”
The partnership will enable Al Hilal Bank’s Abu Dhabi customers to take advantage of a range of trade credit insurance solutions for
the management of business-to-business trade receivables offered by
Euler Hermes. Al Hilal Bank will leverage Euler Hermes’ offerings to
help its corporate clients effectively address local and global economic
challenges and successfully manage their trade receivables and
worldwide expansion.
During the signing ceremony in early April, Michele Pignotti, Euler Hermes Head of
Mediterranean Countries, Middle East and Africa region, said: “We
strongly believe that the cooperation will be mutually beneficial, as it
will enrich the range of services offered to Al Hilal Takaful corporate
clients, and enable Euler Hermes to enhance its presence in Abu Dhabi.
This agreement affirms Euler Hermes’ commitment to GCC companies as part of our long-term strategy for
reinforcing our market leadership.”
“Our aim is to rely on our extensive knowledge of the region in
order to broaden our reach and provide coverage to the entire market,
offering businesses flexible credit insurance solutions that are
tailored to fit different sectors and help promote the respective
ambitions of our clients,” added Mahan Bolourchi, CEO, Euler Hermes GCC.