Hermes builds new marketing and distribution division

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18 February 2010

German export credit agency Euler Hermes has created a new market management, marketing, commercial and distribution division.

German export credit agency Euler Hermes (Hermes) has created a new market management, marketing, commercial and distribution division which will be overseen by Michel Mollard, a member of the Euler Hermes Group Management Board.

Hermes has appointed three executive directors to oversee the division. Roland van Malderghem is chief executive of Euler Hermes world agency, the group entity catering for multinational groups.

After a career in demographic and sociological...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%