Euler Hermes Asia Pacific appoints ASEAN CEO

HONG KONG,March 17,2021 --Euler Hermes Asia Pacific is pleased to appoint Shan Aboo to the office of ASEAN CEO,effective 1 April 2021. Mr Aboo will be based in Singapore,overseeing Euler Hermes' operations in the ASEAN markets,namely Malaysia,Thailand,and Indonesia as well as Singapore. He will be reporting to the Head of Region at Euler Hermes Asia Pacific Holger Schaefer.

Shan Aboo,Euler Hermes ASEAN CEO

Chloe Lin,Euler Hermes Regional Director APAC

MrAboo joined Euler Hermes in 2008 in Dubaias a Business Development Manager covering the GCC market,before moving to Singapore as the Commercial Director for Euler Hermes ASEAN in 2012. Since 2016,he has been the Regional Director for Euler Hermes World Agency Asia Pacific responsible for expanding and servicing the multinational business accounts in the region.

Mr Schaefer speaks on Mr Aboo's appointment,"Shan is the perfect candidate for this role due to his successful tenure in the ASEAN region as well as his experience servicing the large-corp and multinational companies in heading our World Agency team. Shan brings to this role a driving spirit and entrepreneurial leadership.As a leading and dynamic multi-product hub,ASEAN is a key part of our future growth strategy. I am very confident that Shan,together with the local management team,will achieve great success in ASEAN. I also want to sincerely thank outgoing CEO,Clemens Philippi,for his dedication and contribution over the past three years. I wish him every success in his future role."

Commenting on his new role,Mr Aboo says,"I am thrilled to re-join the Euler Hermes ASEAN team and it feels like returning home in some ways.With deep roots across ASEAN and an unmatched product offering,Euler Hermes is uniquely positioned to support our clients and business partners across the region,especially during these times of economic uncertainty. I look forward to working closely with the talented and experienced ASEAN team to drive profitable growth and localized solutions in this dynamic part of the world."

Chloe Lin,currently Regional Director of Account Management for World Agency Asia Pacific,will ascend to the Regional Director position taking over from Mr Aboo. Ms Lin joined the World Agency eight years ago and has established solid connections with multinational businesses across the region. She has worked in the US,mainland China,Hong Kong and Singapore,and has accumulated over twenty years of experience in the financial services sector through a variety of roles. Ms Lin will lead the regional World Agency operations from Hong Kong.

Ms Lin says,"I am excited to take on this role and embrace its breadth of opportunities. The team is diversely talented with deep credit insurance expertise. In today's dynamic business environment,compounded by the uncertainty that came with COVID-19,the demands for savvier credit risk management will be greater than ever. Looking forward to continue creating tailored solutions for sustainable growth for our customersacross Asia Pacific."

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Euler Hermesis the global leader in trade credit insurance and a recognized specialist in the areas of surety,collections,structured trade credit and political risk. Our proprietary intelligence network analyses daily changes in corporate solvency representing 92% of global GDP. We give companies the confidence to trade,and be paid. We compensate your company in the event of a bad debt,but more importantly,we help you avoid bad debt in the first place. Whenever we provide trade credit insurance or other finance solutions,our priority is predictive protection. But,when the unexpected arrives,our AA credit rating means we have the resources,backed by Allianz to provide compensation to maintain your business. Headquartered in Paris,Euler Hermes is present in 50+ countries with 5,800 employees. In 2019,our consolidated turnover was EUR2.9 billion and insured global business transactions represented EUR950 billion in exposure.

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