The Export Credit Agency of Kazakhstan Strengthens Its Partnership with Swiss Re
Deputy Chairperson of the Management Board of Export Credit Agency of Kazakhstan JSC (ECA), Ayan Bektybayeva, held a meeting with Mr. Magnus Nigsch, representative of the world’s leading reinsurance company, Swiss Reinsurance Company
Swiss Reinsurance Company (Swiss Re), a global leader in the insurance and reinsurance industry with a 125-year history, has been working continuously with the Export Credit Agency of Kazakhstan since 2021.
During the meeting, the parties discussed the potential for expanding reinsurance capacities, which would allow ECA to increase its risk appetite and enhance its support for Kazakhstan’s export sector. The discussion also covered the reinsurance of export credits for the supply of technologies and equipment to export-oriented industries in Kazakhstan.
“Reinsurance is one of the most important risk management tools for an insurance institution. It ensures the reliability of our support and the financial stability of the organization itself. We are consistently increasing our insurance capacity in cooperation with Swiss Re, a global reinsurance leader. Their trust reflects a strong assessment of our underwriting system, risk management, and strategic planning. Access to reinsurance — especially with a company like Swiss Re — will undoubtedly give a new impetus to the development of Kazakhstan’s export potential and open broad opportunities for international integration,” said Ms. Bektybayeva.
In turn, Mr. Nigsch expressed his readiness to continue active cooperation and showed particular interest in ECA’s new guarantee products, emphasizing his commitment to strengthening mutually beneficial collaboration.
It is worth noting that ECA introduced export guarantee instruments to its product portfolio in 2024.
What do guarantee instruments include?
- Performance guarantees under export contracts
- Advance payment guarantees under export contracts
- Bid guarantees
- Guarantees issued to banks to secure exporter obligations
These instruments enable Kazakhstani producers and service providers to participate in international tenders and expand their presence in strategically important export markets.
