Owings Mills-based Euler Hermes North America Insurance Company, a provider of trade credit insurance and accounts receivable management solutions, announced Tuesday the launch of Euler Hermes Energy, a provider of redit support and risk management solutions for companies in the North American energy sector.
Credit support and risk management solutions are vital both to maximizing opportunities and mitigating risks. Euler Hermes Energy has designed tailored solutions to empower businesses throughout the energy supply chain, with offices in Houston, Dallas, Calgary and Stamford, Conn. Using energy credit insurance, customers are protected against payment default and can confidently transact on open credit, the preferred method of global business. Should a default occur, clients can efficiently execute a claim for payment with Euler Hermes Energy.
“Credit is the fuel of growth,” said Jay Rose, managing director of Euler Hermes Energy. “Business managers staying current with the global energy sector’s evolution require a comprehensive suite of credit tools to capitalize on opportunity and maintain competitive advantage. Better harmonization of risk mitigation and commercial aspirations supports safe, aggressive bottom line growth. Our industry-specific expertise provides the right solution for individual companies, backed by the resources of a global leader.”
Euler Hermes Energy has more than 110 years of energy and trade credit industry experience to provide clients with competitive advantages through safer growth, credit management support, reduced concentration risk and maximum leverage.
The new division will be led by seven industry professionals, including Rose, who began his career at Euler Hermes in 2004 and has held several managerial roles in the Texas market; Senior Director Pat McKinnon, whose career spans more than 30 years in every facet of the energy supply chain; Senior Director Todd Lines, who has 26 years of experience in both Calgary and Houston in crude oil, liquids and natural gas trading and marketing as an analyst, trader, trading director and energy consultant; Senior Director Jon Hammond, who has managed risk in the energy sector for 25 years, 20 of which were on the floor of the New York Mercantile Exchange; Senior Director Chris Jackson, who has more than 20 years of experience in business development, origination and trading for companies such as Duke Energy, TXU and NYMEX; and Fritz Fowler, the head of credit risk, who has spent decades as a risk analyst and credit manager for companies including Cima Energy, Compass Bank, Amegy Bank and Reliant Energy; and Michael Rapp, the head of commercial underwriting, who has more than a decade of experience working with insurance, energy and technology companies. His experience spans large multi-national corporations to venture capital-funded companies.