Nippon Export and Investment Insurance (NEXI) has entered into a One-Stop-Shop Reinsurance Agreement with KUKE, the export credit agency of Poland.
The agreement was signed earlier this month in Tokyo by Janus Władyczak, president and CEO of KUKE, and Atsuo Kuroda, chairman and CEO of NEXI.
The arrangement builds on an amended memorandum of understanding between NEXI and KUKE from November last year, which expanded cooperation in areas such as support for Ukraine, information exchange on energy transition, infrastructure, new technology, and assistance to small and medium-sized enterprises.
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The new reinsurance agreement is intended to strengthen the relationship between the two agencies and enhance their ability to support exporters.
Under the agreement, NEXI and KUKE will establish a One-Stop-Shop Reinsurance scheme for medium- and long-term projects. The scheme is designed to provide more efficient and comprehensive support for Japanese and Polish companies exporting to third countries, including Ukraine.
Poland is positioned as a hub for Japanese companies operating in Eastern Europe, and the agencies expect further collaboration between Japanese and Polish firms as a result of this partnership.
Meanwhile, the reinsurance landscape in Japan has seen other notable developments. Brookfield Wealth Solutions signed its first Japan-based reinsurance agreement with Dai-ichi Frontier Life earlier this month. The deal allows Dai-ichi Frontier Life to reinsure certain liabilities to Brookfield’s US subsidiary, American National Insurance Company, on a flow basis.
Brookfield’s entry into the Japanese market follows the establishment of its Tokyo office earlier in the year, reflecting a broader trend of international firms targeting Japan’s large life insurance sector, which has over US$6 trillion in individual life and annuity policies in force.
Kuvare Life Re also expanded its presence in Japan by opening a representative office in Tokyo. Kuvare Life Re has completed reinsurance transactions with three major Japanese life insurers, covering five different insurance products and generating more than ¥500 billion (about US$3.5 billion) in total written premium.
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