Euler Hermes and Mapfre enter credit joint venture
Allianz-owned credit insurer Euler Hermes and Spanish insurer Mapfre have agreed a 50/50 joint venture to develop their credit insurance business in Spain and four Latin American countries.
The new outfit will launch operations in the beginning of 2013, subject to regulatory approvals.
The firms will integrate their existing credit insurance activities in Spain, Argentina, Chile
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