Euler Hermes, the world’s leading trade credit insurer, is to help Save the Children protect vital funds for international aid.
For a premium costing less than the price of a bottle of water, the charity has agreed a syndicated, multi-country political risk policy covering its international funds in countries where the threat of confiscation is high.
Issued by the Euler Hermes Transactional Cover team as part of a group also including other insurance partners, the policy is underwritten to ensure Save the Children’s essential global action can continue where it is needed.
Euler Hermes’ support for Save the Children coincides with the 100th anniversary of the charity, which was founded in 1919. As one of the world’s leading humanitarian organisations, it works to ensure children across the world, especially the most marginalised and deprived, have access to healthcare, food and shelter, as well as learning opportunities and child protection services.
Isabelle Girardet, Global Head of Transactional Cover and Investment Solutions at Euler Hermes, said: “Save the Children’s work around the world is essential, so we’re privileged to support the charity and help it continue improving lives. Much of its resources are required in countries where there is elevated political risk around the security of funds. This policy, with a nominal premium attached, represents a positive gesture from the industry and will enable the charity to focus on its core activity with confidence.”
Nataliya Todorova, Global Head of Insurance of Save the Children International, said: “For more than a century now, we have worked to champion the rights of children in every corner of the globe. It’s thanks to the generosity of partners such as Euler Hermes that the children who need our support most receive it. The funds that are protected by this policy go directly towards ensuring more and more children around the world live healthy lives, have access to a decent education and grow up free from violence.”