Reinsurance agreements
The export credit agencies in different countries collaborate through different forms of co-operation agreements. The most common are reinsurance agreements. Reinsurance can be used when a main supplier makes purchases at a fixed price from one or more foreign sub-suppliers.
The main supplier is the party to the agreement with the end purchaser, which is in a different country than any of the suppliers. The aim of the reinsurance agreement is to share the risk with the export credit agency in the home country of the sub-supplier.
This does not result in any extra work for the exporter, which applies for a guarantee from EKN as usual. EKN then determines whether reinsurance is to be applied for. EKN issues the guarantee and pays any indemnifications.
EKN has reinsurance agreements with the following export credit agencies
- Australia, EFA
- Austria, OEKB
- Belgium, CREDENDO - EXPORT CREDIT AGENCY
- Canada, EDC
- Czech Republic, EGAP
- Denmark, EIFO
- Estonia, KREDEX
- Finland, FINNVERA
- France, BPIFRANCE ASSURANCE EXPORT
- Germany, EULER HERMES
- Italy, SACE
- Japan, NEXI
- Luxembourg, ODL
- Netherlands, ATRADIUS DSB
- Norway, EKSFIN
- Poland, KUKE
- South Korea, KSURE
- Spain, CESCE
- Switzerland, SERV
- Taiwan, TEBC
- UK, UKEF
- USA, EXIM
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