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News

03.09.2021
09:35

EXIAR and CREDENDO-INGOSSTRAKH CREDIT INSURANCE will support the export of Russian-made electrical equipment to Uzbekistan

EXIAR JSC (part of the REC group) and Credendo-Ingosstrakh Credit Insurance Russian-Belgian insurance company have agreed to jointly support the supply of Russian-made electrical equipment to Uzbekistan. On August 30, 2021, two companies signed a reinsurance agreement.
This agreement is an important stage in the development of long-term cooperation between EXIAR and Credendo-Ingosstrakh in terms of promotion of Russian goods to foreign markets.

“Both EXIAR and Credendo-Ingosstrakh will benefit from this cooperation, as it will allow the commercial insurer, with the assistance from EXIAR, to expand the possibilities for insuring against export risks, and the Russian exporter to increase insurance coverage to intensify export activities by combining the expertise and insurance capacity of the two organizations,” Nikita Gusakov, General Director of EXIAR JSC.

“We welcome the EXIAR’s willingness, which has extensive insurance capacities and deep export insurance expertise, to cooperate with Credendo-Ingosstrakh to support our clients – Russian exporters of goods and services. I am sure that such a cooperation will allow us to provide more comprehensive insurance support to Russia exporter and, ultimately, enable them to strengthen their positions in foreign markets,” Aleksey Bezdenezhnykh, General Director of Credendo-Ingosstrakh Credit Insurance LLC.

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Russian Agency for Export Credit and Investment Insurance JSC (EXIAR) was established in 2011. It’s main goal is to support the export of Russian products abroad by insuring exporters against credit and political risks under export credits, as well as by insuring investments against political risks.

Credendo-Ingosstrakh Credit Insurance LLC is a joint venture established by Ingosstrakh Insurance Company and Credendo, the Belgian state export credit agency, founded in 2009. The company specializes in providing insurance coverage against credit risks for Russian and international companies operating in the Russian market.