MOU on Reinsurance Cooperation between NEXI and MIGA

Nippon Export and Investment Insurance (NEXI; President and CEO: Kazuhiko Bando) has signed a Memorandum of Understanding (MOU) on Reinsurance Cooperation with the Multilateral Investment Guarantee Agency (MIGA), a World Bank Group entity that promotes foreign direct investment (FDI) into developing countries by providing guarantees against losses arising from political and non-commercial risks.

The MOU was exchanged on May 3, 2018 between Ms. Keiko Honda, Executive Vice President and Chief Executive Officer of MIGA, and Mr. Kazuhiko Bando, President and CEO of NEXI, at Japan-Africa Public–Private Economic Forum held in Johannesburg, South Africa. The Forum was hosted by Mr. Hiroshige Seko, Minister of Economy, Trade and Industry of Japan, and was attended by Mr. Cyril Ramaphosa, the President of the South Africa, Mr. Dr Rob Davies, Minister of Trade and Industry, ministers of numerous countries, government organizations and company representatives. Mr. Seko and Mr. Davis also attended the MOU exchange ceremony.

The purpose of the MOU is to establish a further cooperative framework between MIGA and NEXI on reinsurance contracts (in which either MIGA or NEXI provides reinsurance to the other party) by clarifying reinsurance procedures. Through the MOU, MIGA and NEXI are expected to use their own strengths to help Japanese companies develop effective investment projects.

＜Main objective of the MOU＞

• 1. Exchange of information on potential reinsurance cooperation projects and sectors
• 2. Information sharing on consultation necessary for reinsurance contract
• 3. Clarification of basic conditions to be agreed at the reinsurance contract consultation
• 4. Clear statement that cession is completed by a reinsurance contract
• 5. Confirmation that a reinsurance contract is concluded for each project

NEXI will continue to support overseas business activities of Japanese companies by strengthening cooperation with the World Bank Group and governmental financial institutions of other countries.

＜About MIGA＞

＜Contact＞

Policy Coordination Group　Tel：03-3512-7665