Since 2009 EKF has been able to reinsure the private credit insurance companies´ export credits to Danish companies. The scheme was originally introduced as a temporary measure and EU´s dispensation of 33 countries within the EU/OECD will be phased out as planned by the end of the year.
More than 450 Danish exporters have joined the reinsurance scheme. EKF and the private credit insurance companies have had a close and fine cooperation throughout the entire period and are therefore in negotiation about continuing the scheme in countries outside the OECD after the end of the year as well.
When Danish companies export to countries outside of the EU/OECD in the future, it will therefore still be possible for the private credit insurance companies to reinsure risks with EKF in presently 135 countries. The extra security makes it possible for the credit insurance companies to accept cover of more companies and this helps to strengthen the economy and the competitiveness of Danish export companies.
Existing limits within the OECD to be phased out gradually
From 1 January 2012 EKF can no longer reinsure the private credit insurance companies´ new limits (financial framework for credits) covering buyers in the 33 countries within the EU/OECD. The existing limits will continue to apply but will gradually be phased out during the first half of 2012. This will be carried out in cooperation between EKF, the private credit insurance companies and the exporters involved in order to make sure that the transition will be as smooth as possible.
For those of you who are exporters this means that it will not be possible to grant new limits or extend existing limits on buyers in the 33 countries after 31 December 2011. If your company already has limits on buyers in these countries, you will be contacted by your credit insurance company so that you can work out a reasonable plan for phase-out.
The reinsurance scheme will expire for the following 33 countries, but will continue for all other countries: