EKF set-up new
guarantee scheme of
DKK 30 billion
EKF set-up new Government-backed guarantee scheme of DKK 30 billion
Accura has assisted EKF Dansk Eksportkredit with the design and set-up of a Government-backed guarantee scheme of DKK 30 billion for reinsurance of private credit insurance companies operating on the Danish market.
Businesses selling on credit may take out an insurance against loss with a credit insurance company. In Denmark, trade credit insurance is provided in the amount of approx. DKK 450 billion every year, but due to the COVID-19 pandemic many businesses experience liquidity issues which may result in the B2B trade not being able to obtain such insurance.
EKF Dansk Eksportkredit and the credit insurance companies have, therefore, joined forces on an agreement ensuring that credit insurance continues to be available to Danish businesses. The guarantee scheme applies to both domestic B2B trade and export.
As a result of the agreement, the Danish Government assumes part of the credit insurance companies’ risk of loss on credit insurances taken out in 2020. In return, the credit insurance companies covered by the scheme undertake to maintain their insurance capacity on the Danish market. The scheme is administered by EKF Dansk Eksportkredit and has been approved by the European Commission.
For further information, please read the press release.