News Non-Life03 Aug 2018

China:Belt and Road fuels export credit insurer's 1H business

03 Aug 2018

Policy-oriented export credit insurance business expanded during the first half of 2018, particularly in countries and regions involved in the Belt and Road (B&R) initiative, the Xinhua News Agency reported, citing the China Export & Credit Insurance Corp (Sinosure).

Insurance coverage contracted by the firm from January to June 2018 reached a value of $290.36bn, a 12.8% growth over the first half of 2017. Insurance payments to clients amounted to $630m during the same period, up 21% yearon year.

Insurance business overseas in countries on the B&R routes reached $74.3bn in the first six months, an 18.3% increase year-on-year, comprising 25% of the total. The export credit insurance aims to help Chinese firms deal with potential political, economic and cultural risks as they expand their international operations.

Sinosure is China's only policy-oriented export insurer. It offers risk protection for Chinese exporters of goods, services, technology, investment and large-scale infrastructure projects, covering close to 60% of all exports of most large-scale industries, and over 10% of exports by small companies.

| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.

Other News

Follow Asia Insurance Review