Kingdom of Thailand / Reinsurance Agreement with the Export-Import Bank of Thailand

July 10, 2019

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI, Chairman and CEO: Atsuo Kuroda) has concluded a reinsurance agreement with the Export-Import Bank of Thailand (EXIM Thailand), the export credit agency (ECA) of Thailand.

NEXI has concluded reinsurance agreements with fifteen ECAs in Europe and Asia, and this will be the sixteenth agreement. As NEXI has already a reinsurance agreement signed with EXIM Thailand in 2009, it is applied for insurance types for short-term transactions (less than two years). Meanwhile, the new agreement is for insurance types for medium- to long-term transactions (more than two years).

The existing reinsurance agreement aims to support exports to third countries by Japanese-affiliated companies located in Thailand, through reinsurance that NEXI provides for insurance underwritten by EXIM Thailand. On the other hand, the new reinsurance agreement aims to support overseas projects jointly undertaken by Japanese and Thai companies. NEXI will provide reinsurance for a portion participated in by Japanese companies, which is a part of the insurance underwritten by EXIM Thailand for investments in and loans for such joint products. This agreement will enable NEXI to provide further active support for joint projects undertaken by Japanese and Thai firms, in addition to the current support for export by Japanese-affiliated companies from Thailand with which Japan has been building a close relationship.

As Thai’s domestic economy has matured in recent years, the number of activities carried out by Thai companies including overseas investment projects especially in Asia is projected to further increase. In this circumstances, it is expected that the new agreement will encourage investments in and loans for overseas projects undertaken by Japan and Thailand, and therefore contribute to the development of countries involved in the projects.

This agreement has been designed for the Overseas Investment Insurance and insurance types for untied export loans. It can be applied to numerous projects to be undertaken by NEXI and EXIM Thailand, but whether or not to apply will be determined depending on each individual case.

As Japan’s policy-based financial institution, NEXI will continue to promote to expand its reinsurance network with other countries, support projects to be developed by Japanese companies, and make active efforts to contribute to cooperation with third countries encouraged by the Japanese government.

Legal name Export-Import Bank of Thailand
Location EXIM Building, 1193 Phaholyothin Road, Phayathai, Bangok 10400
Year of establishment 1993
Number of staff Approximately 750
Business outline Direct lending, export insurance, investment insurance, loan insurance and others.

Contact: Overseas Investment Insurance Underwriting Group, Underwriting Department
Tel: +81-(0)3-3512-7668