French credit insurer Compagnie Française d'assurance pour le commerce extérieur (Coface) has signed an agreement with Japan’s trade and investment insurance arm to extend its coverage.
The deal will allow Nippon Export and Investment Insurance to provide reinsurance coverage on the trade activity of Japanese companies overseas in more countries.
The deal will extend Nippon’s reinsurance coverage from 19 countries to 96 covering Asia, South America and Africa.
Coface will extend trade insurance on Japanese companies' exports and Nippon will cover a portion via reinsurance. In the case of a default, Coface and Nippon will each cover half of the loss.