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EXIAR - Export Insurance Agency of Russia ( Russian Export Center group ) (EXIAR)

Key facts

  • Established in 2011
  • Ownership: Public
Not Part of the OECD Part of the Berne Union

Latest update: 03/12/2021

rating type rating agency type rating
Institution rating S&P Foreign currency BB+
Country rating S&P Local currency BBB-

Products

  • Buyer credit
  • Supplier credits
  • Additional products

Buyer Credit

  • Insurance to cover a Russian or international bank against the risk of a default on a loan provided to an overseas borrower (the buyer or buyer’s bank) to pay for goods, work, or services exported from Russia under contract (including accrued interest)
  • EXIAR also provides confirmed L/C insurance, which covers the risk of non-payment under a L/C confirmed by a Russian bank
  • Credit terms:
    - Short-term: Up to 2 years
    - Long-term: Over 2 years
  • Eligibility:
    - Russian content in supply contract must be at least 30%
    - Full or partial financing of an export contract for the delivery of Russian goods and services
    - Local cost associated with Russian exports may be financed up to 30% of the value of the Russian supply contract
    - EXIAR premium may be financed
  • Fees:
    - Risk premium may be paid in cash or capitalized
    - Commitment fee typically charged by the lender

Supplier Credit

  • Supplier credits protect Russian companies (as well as banks providing financing to them) from the risk of non-payment by overseas buyers
  • Policies cover single deliveries of goods made on credit:
    - Straight supplier credit insurance policies cover single deliveries of goods made on credit terms
    - Guarantee insurance cover and short-term receivables insurance cover the entire portfolio of insured’s export contracts with deferred payment terms against non-payment for single or recurring shipments
  • Credit terms: Up to 1 year
  • Insured or loss payee: The supplier or producer of goods, works, and services or the bank financing for the insured

Additional Products

  • Financial institutions: EXIAR also provides confirmed L/C insurance (with financing included), export factoring insurance, and export working capital credit insurance
  • Investment insurance: EXIAR provides project investment insurance to protect Russian investors against the loss of investments caused by political events
    - Insurance policies cover overseas investments made as either an equity participation or as a shareholder loan
    - Cover: 95% of investment
Modality Tenor Cover type coverage
Insurance Short/medium/long-term Commercial 90%
Insurance Short/medium/long-term Political 95%

Performance highlights

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