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An important part of Sovereign’s business involves supporting national Export Credit Agencies (ECAs). This support takes the form of both facultative (single risk) reinsurance as well as treaty reinsurance. Sovereign can provide ECAs with reinsurance support for tenors of up to 15 years and amounts of up to $80 million per transaction. Sovereign can also coinsure with official agencies (and other private insurers) in order to increase available amounts of insurance for large projects. By sharing risk through reinsurance, Sovereign’s ECA clients are able to better balance their portfolios and continue offering coverage in countries of particularly heavy concentration. ECAs can reinsure existing exposures or new exposures and can cover either debt or equity. Sovereign’s unique structure and financial strength enables us to provide customized solutions to public agencies, which often have unique needs. To date, Sovereign has concluded 48 co-insurance and reinsurance transactions with nine different ECAs, including: CESCE (Spain); COFACE (France); EDC (Canada); EFIC (Australia); EKF (Denmark); EKN (Sweden); Finnvera (Finland); ONDD (Belgium); and OPIC (US). Sovereign has also co- and reinsured with the World Bank’s political risk insurance agency, MIGA. Sovereign is a member of the Berne Union, the worldwide organization of national export credit and investment insurance agencies. Sovereign is honored to be a member of this prestigious organization and believes that membership in the Berne Union will further public-private cooperation in political risk insurance underwriting. (click here to see highlights of selected transactions with
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