Under this agreement, NEXI will underwrite reinsurance for export credit insurance underwritten by ECGC for Japanese companies in India exporting goods from India to third countries, including those in Africa
NEXI is in the process of registering as a reinsurer with the Indian authorities in preparation for the agreement to come into effect.”
Tokyo: Nippon Export and Investment Insurance (NEXI), the official export credit agency of Japan, has signed a reinsurance agreement with ECGC Limited (ECGC), India’s government owned export credit agency.
The agreement was signed between Sristiraj Ambastha,CMD, ECGC and Atsuo Kuroda chairman and CEO of NEXI, and has been unveiled at the MOU signing ceremony of the 9th Tokyo International Conference on African Development (TICAD9) August 21, in the presence of Japanese Prime Minister Shigeru Ishiba.
Under this agreement, NEXI will underwrite reinsurance for export credit insurance underwritten by ECGC for Japanese companies in India exporting goods from India to third countries, including those in Africa.
Earlier, both the institutions had signed a Reinsurance Framework Agreement on March 29, 2024, and since then, they have been in discussions with the aim towards concluding a transaction level reinsurance agreement
NEXI is in the process of registering as a reinsurer with the Indian authorities in preparation for the agreement to come into effect.”
The reinsurance cooperation further strengthens the economic activities of the two countries, benefits to the peace and economic prosperity in the Indo-Pacific region and contributes to our government’s policy of free and open Indo-Pacific.
NEXI has concluded reinsurance agreements with export credit agencies(ECAs) in Asia and other countries, and it will continue supporting Japanese companies’ overseas businesses through cooperation with foreign export credit agencies.