Reinsurance Agreement with Credendo-Ingosstrakh Credit Insurance
Nippon Export and Investment Insurance
Nippon Export and 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. Credendo – 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’ 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’ business development in overseas markets by offering a reliable reinsurance capacity.
| Founded | 2009 |
| Headquarters | Moscow, Russia |
| Shareholders | Credendo 67%, Ingosstrakh 33% |
Contact:
Reinsurance Underwriting Group, Underwriting Department
Phone: +81-(0)3-3512-7585