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International

Trade credit insurer mulls over Russian JV and $4.6 billion exposure

March 17, 2022 Reprints

Belgium-based trade credit insurer Credendo, which has a potential exposure of around €4 billion ($4.6 billion) to Russia, is mulling the future of its Russian joint venture Credendo-Ingosstrakh Credit Insurance LLC as the war in Ukraine continues, Global Trade Review reported. Credendo owns 67% of the Russian JV with major Russian partner IPJSC Ingosstrakh owning the rest. The JV underwrites trade risks in Russia and former Soviet nations.

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Trade credit insurer mulls over Russian JV and $4.6 billion exposure

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