ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Finance

Japan taps French insurer to expand trade credit reinsurance coverage

TOKYO -- Nippon Export and Investment Insurance will partner with France's Coface in providing reinsurance on the trade activity of Japanese companies overseas, helping to broaden coverage to nearly 100 countries.

     Coface will extend trade insurance on Japanese companies' exports from one country to another, and NEXI will cover a portion via reinsurance, starting in May. If the seller is unable to collect payment due to the buyer going bankrupt, for example, Coface and NEXI will each cover half of the loss.

     Through the partnership, NEXI's reinsurance coverage will expand sharply from 19 nations now to 96 and reach across Asia, South America and Africa. This marks the government-backed entity's first tie-up with a private-sector credit insurer.

     The French company is a leading player in the industry, trailing only Euler Hermes -- a credit insurance provider under Allianz Group of Germany -- in premium income.

     NEXI has until now provided trade reinsurance for contracts spanning more than two years, such as those involving aircraft and plant building. But now, it will offer reinsurance on trades spanning less than a year, hoping to capture demand from small and midsize electronic parts makers.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media