§ Dr. Cable:To ask the Secretary of State for Trade and Industry pursuant to her Answer of 20 June 2003, Official Report, column 493W, on ECGD, if she will list the exposure under each reinsurance contract; what the split of business reinsured between defence and non-defence is; which claims have been (a) notified but not yet agreed and (b) agreed but not paid; and what projections have been made of expected claims payments. [130246]
§ Mr. Mike O'Brien:Since the start of 1997, ECGD has reinsured 22 deals with other Export Credit Agencies (EGAs) in respect of medium/long-term business. ECGD has received no claims and therefore paid no claims. ECGD does not currently anticipate receiving any claims in respect of any of these cases. Current Exposure refers to the amount that ECGD has reinsured which is still outstanding.
145W
Reinsured ECA Underlying insured party Risk status Hermes VAI Industries (UK) Ltd Corporate Sace Skanska Construction UK Limited Sovereign Sage Saipem UK Limited Corporate Oekb-Oesterreichische Kontrollbank VAI Industries (UK) Ltd Corporate Coface and Sage Demag Delaval Industrian Turbomachinery Limited Public and Corporate Sage Shell Research Limited Public Coface Alstom Power Plants Ltd Sovereign Export import bank of the United States Rolls-Royce plc Corporate Hermes Traffic Safety Systems Limited Sovereign Export import bank of the United States Rolls-Royce plc Corporate Coface MBDA UK Limited Sovereign Sace CRI Catalyst Company UK Ltd Sovereign
Reinsured ECA Market Original value Current exposure Issue date Sector Coface Singapore 10,022,063 0 1997 Civil Coface Taiwan 9,983,926 0 1997 Civil Hermes Croatia 1,799,326 472,347 1998 Civil Coface United Arab Emirates 9,584,759 0 1998 Civil Coface Kuwait 29,661,020 0 1999 Defence Hermes Mexico 2,625,958 204,887 1999 Civil Hermes Croatia 9,996,706 9,996,706 1999 Civil Coface Turkey 331,719 88,440 1999 Civil Hermes Dominican Republic 29,520,129 20,114,522 2000 Civil Office National du Ducroire (OND) India 47,386,230 27,074,794 2000 Civil Hermes Brazil 21,228,898 18,614,705 2001 Civil Sace Iran (Islamic Republic of) 40,140,469 31,308,243 2001 Civil Sage Russian Federation 108,855,581 97,244,455 2001 Civil Oekb-Oesterreichische Kontrollbank Brazil 2,439,928 1,957,556 2001 Civil Coface and Sage Algeria 119,365,812 53,669,781 2001 Civil Sage Iran (Islamic Republic of) 23,425,293 23,425,293 2002 Civil Coface Turkey 33,637,809 32,406,342 2002 Civil Export import bank of the United States Israel 5,595,278 5,015,491 2002 Civil Hermes Romania 1,046,965 1,046,965 2002 Civil Export import bank of the United States Luxembourg 16,453,233 14,599,275 2002 Civil Coface United Arab Emirates 39,505,804 39,505,804 2002 Defence Sace Iran (Islamic Republic of) 13,498,847 0 2003 Civil The is no current exposure for all four short-term reinsurance cases as these deals have been fully paid. ECGD has received no claims and paid no claims on
Reinsured short-term insurer Underlying insured party Risk status Market NCM Credit Insurance Ltd Marconi Corporation plc Corporate Germany NCM Credit Insurance Ltd Royal Ordnance plc Sovereign Singapore NCM Credit Insurance Ltd BAE Systems (Defence Systems Ltd) Public United Arab Emirates NCM Credit Insurance Ltd Rolls-Royce Industrial Power (India) Ltd Corporate Canada
Reinsured short-term insurer Original value £
Current Exposure £
Issue date
Sector NCM Credit Insurance Ltd 1,337,736 0 1998 Defence NCM Credit Insurance Ltd 18,600,000 0 1998 Defence NCM Credit Insurance Ltd 8,000.000 0 1997 Civil NCM Credit Insurance Ltd 765,600 0 1998 Civil
§ Dr. Cable:To ask the Secretary of State for Trade and Industry if she will list reinsurance contracts underwritten by the ECGD; and in each case (a) who the
146W
(a) Reinsured ECA (b) Underlying insured party Risk status Market (e) Claims paid £ Issue dale Sector Original value £ (d) Current exposure £ Coface (France) Matra Marconi Space UK Ltd Corporate Singapore 0 1997 Civil 10,022,063 0 Coface (France) Matra Marconi Space UK Ltd Public Taiwan 0 1997 Civil 9,983,926 0 these. The BAE Systems case in the following table refers to air traffic systems.
reinsured party is, (b) who the underlying insured party is, (c) what cover is provided, (d) what the amount of the total exposure under the contract is and (e) what amounts have been paid in respect of these contracts for each year up to and including 1997. [129932]
§ Mr. Mike O'Brien:Prior to the end of 1997, ECGD provided reinsurance to other Export Credit Agencies (EGAs) under Co-operation Agreements on only two occasions in respect of medium/long-term business. The cover provided was reinsurance of all risks covered by the lead EGA.
147WCurrent Exposure refers to the amount that ECGD has reinsured which is still outstanding.
These cases are also referred to in PQ No. 130246 answered today and were the first cases under the first Co-operation Agreement (with France) that was signed in 1995.
Reinsured short-term insurer Underlying insured party Risk status
Market Original value £
Current exposure £
Issue date
Sector NCM Credit Insurance Ltd BAE Systems (Defence Systems Ltd) Public United Arab Emirates 8,000,000 0 1997 Civil However, it would incur disproportionate cost to list and detail every occasion that ECGD has provided short-term reinsurance prior to 1997 due to the very large numbers involved. When its short-term business was privatised in 1991, ECGD provided reinsurance on all exposure transferred to the commercial insurer (NCM Credit Insurance Ltd.)