Euler Hermes posts rising revenues for 2013

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Euler Hermes has reported a 4.2% increase in premiums to €2.1bn [£1.7bn] for 2013.

The trade credit specialist also delivered a 3.7% uplift in turnover to €2.5bn (2012: €2.4bn) as operating income rose 6.2% to €458.6m.

The group's combined operating ratio moved marginally to 75.3% from 74.6% in 2012.

The insurer, a subsidiary of Allianz, did not provide a breakdown for UK figures, however its northern Europe division achieved a 5.1% increase in turnover to €551.3m for the 12 months.

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