Canada/Reinsurance Agreement between NEXI and Export Development Canada
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI: Chairman and CEO: Kazuhiko Bando) has concluded a One-Stop-Shop Reinsurance Agreement with Export Development Canada (EDC).
The signing ceremony took place on September 25th in Canada at EDC between Mr. Benoit Daignault, CEO and President of EDC and Kazuhiko Bando, Chairman and CEO of NEXI. NEXI has concluded reinsurance agreements with fourteen export credit agencies in Europe and Asia, and this will mark its fifteenth agreement.
NEXI has already a reinsurance agreement concluded with EDC in 2012, which is applied for short-term transactions (less than 2 years). While this reciprocal agreement is for medium-to long-term transactions. By concluding this agreement, NEXI and EDC can cooperate in supporting Japan’s exports in joint project with Canadian companies more comprehensively. This agreement can be applied widely to all ECA finance in which NEXI and EDC participate, but whether to apply will be determined separately for each individual case. NEXI will provide support in terms of export credit to enhance industrial cooperation between Japan and Canada over a wide range of fields by proactively utilizing the reinsurance scheme based on this agreement.
As Japan’s governmental financial institution, NEXI will continue to expand its reinsurance network with other countries to actively support export by Japanese companies.
| Official name: | Export Development Canada (“EDC”) |
| Location | 150 Slater Street Ottawa, ON K1A 1K3 |
| Number of staff | 1,482 |
| Business contents | Direct financing, investment, export credit insurance, investment insurance, loan guarantee etc., |
(Note 2: One-Stop-Shop Reinsurance)
When a Japanese company joins a project in a third country in conjunction with a foreign company, One-Stop-Shop Reinsurance agreements make it possible for NEXl to undertake the risk portion of exports made from Japan. Suppose a Japanese company exports to a third country with a foreign company under a consortium, and the foreign company obtains insurance from its own ECA for the entire contract amount including the portion exported by Japanese company; NEXl will provide reinsurance to the foreign ECA for the portion exported from Japan.
It is called One-Stop-Shop because it allows you to apply for trade insurance at a single window for all export contracts involving companies from multiple countries.
| Service since | ECA (Original Partner) | Country |
|---|---|---|
| 2002 | Servizi Assicurativi Del Commercio Estero (SACE) | Italy |
| 2002 | Atradius (ATRADIUS) | Netherlands |
| 2002 | Ducroire / Delcredere (ONDD) | Belgium |
| 2003 | Euler Hermes Germany (EULER HERMES) | Germany |
| 2003 | Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) | Austria |
| 2004 | Export-Import Bank of the United States (US EXIMBANK) | USA |
| 2004 | FINNERVA PLC(FINNVERA) | Finland |
| 2005 | Export Finance and Insurance Corporation (EFIC) | Australia |
| 2005 | Compañía Españoal a de Seguros de Crédito a la Exportación (CESCE) | Spain |
| 2007 | Swiss Export Risk Insurance (SERV) | Switzerland |
| 2011 | Korea Trade Insurance Corporation (K-sure) | Korea |
| 2016 | Bpifrance | France |
| 2017 | Export Guarantee and Insurance Corporation(EGAP) | Czech Republic |
| 2017 | UK Export Finance (UKEF) | U.K. |
Contact Information
Structured and Trade Finance Insurance Department
Infrastructure Group Tel: +81-3-3512-7670