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Reinsurance Agreement with Credendo-Ingosstrakh Credit Insurance


November 6, 2019

Nippon Export and Investment Insurance

Nippon Export Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has concluded a new reinsurance arrangement with Credendo-Ingosstrakh Credit Insurance, LLC (Credendo-Ingosstrakh) located in Russian Federation, in which Credendo, commonly known as an Export Credit Agency in the Kingdom of Belgium, has equity interests of 67% while remaining 33% of equity interests belongs to Ingosstrakh: one of the leading Russian multiline insurers.ツCredendo 窶 Ingosstrakh specializes in providing trade credit insurance services for suppliers, effecting trade transactions in Russia.

The agreement enables NEXI to provide reinsurance for Russia-based Japanese companies窶 business dealings within Russia, which are covered by Credendo-Ingosstrakh Trade Credit Insurance. Through this framework established by the agreement, it is expected to reduce risks concerning the transactions being carried out by Japanese-affiliated companies in the country.

NEXI will continue to actively support Japanese firms窶 business development in overseas markets by offering a reliable reinsurance capacity.



縲審eference:Brief Profile of Credendo-Ingosstrakh縲
Founded 2009
Headquarters Moscow, Russia
Shareholders Credendo 67%, Ingosstrakh 33%


Contract:
Reinsurance Underwriting Group, Underwriting Department
Phone: +81-(0)3-3512-7585

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