Reinsurance increases insurance capacity for Indonesian ECAs
ICIEC provided a reinsurance capacity to support USD 236 million Indonesian exports insured by both Indonesia Eximbank and PT Asuransi Asei Indonesia’s under their short-term trade credit insurance programs. The reinsurance treaty programs were originally signed in 2018 and 2020 respectively and the successful renewals of these programs are an indication that ICIEC’s presence in this region is well received by member country ECAs. ICIEC’s presence not only increases local insurance capacity, but shall also expand and enable the ECAs’ access to the extended IsDB group. This transaction is supporting the Member Country ECAs in increasing their insurance capacity to support their policyholder’s exports and therefore indirectly supporting the exports of the Member Country.