Ex-Im Bank Extends Reinsurance Backstop To Grow US Exports

Law360, New York (October 23, 2012, 7:30 PM EDT) -- The U.S. Export-Import Bank said Tuesday it will start reinsuring some trade financing policies issued by French insurer Coface Group, hoping to help U.S. companies tap foreign markets and projects on better financial terms and to meet President Barack Obama's goal of doubling U.S. exports by 2015.

The Ex-Im Bank will backstop policies written by Coface North America Insurance Co., freeing up the insurer’s balance sheet to write new policies. The bank did not put a monetary cap on the program or specify a geographic focus...
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