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Jun 2013 Euler Hermes, the world’s credit insurance leader, has achieved a 54% increase of its Gulf portfolio. Euler’s strategy is bearing fruit. Despite the crisis in the eurozone, investments in high-growth countries have enabled the insurer to report an increase of its turnover in the first quarter of 2013 by 5% at 619.3 million EUR (793. 9 million USD).
For the first quarter of 2013, revenue increase in the Mediterranean countries, the Middle East and Africa (MMEA) attained 11%. The insurer is now present in Dubai, Riyadh, Jeddah, Bahrain, Kuwait, Oman and Qatar.