Export Insurance Company KazakhExport JSC is a subordinate organization of the Ministry of Trade and Integration of the Republic of Kazakhstan for non-primary goods and services export promotion. The mission of KazakhExport JSC is to support the rise in exports of non-primary goods, works, and services in priority sectors of the economy and to develop the practice of financial-insurance and non-financial support of Kazakhstan enterprises.
Since the beginning of 2020, as of November 1, 69 export-oriented enterprises in various industries and regions of Kazakhstan have already been supported in the amount of $ 141.9 mln. (26 enterprises received support from KazakhExport for the first time). Projects worth $ 118.6 mln. for 24 exporters have been approved and are at the stage of concluding insurance contracts. Since 2017, 133 export enterprises located in all regions of Kazakhstan were supported for a total amount of $ 666.8 mln.; in 2019 the volume of insurance support amounted to $ 215.6 mln. in engineering industry, metallurgy, chemistry, food and light industry, and agro-industrial complex.
Today, the partners of KazakhExport in all regions of Kazakhstan are both large companies and representatives of small and medium enterprises. Kazakhstan products are exported to Azerbaijan, Armenia, Belarus, Germany, Georgia, Italy, China, Kyrgyzstan, Mongolia, Russia, Tajikistan, Turkmenistan, Uzbekistan, and Japan.
KazakhExport has offices of foreign representatives in Tashkent (Uzbekistan), Dushanbe (Tajikistan), Yekaterinburg and Novosibirsk (Russian Federation), Bishkek (Kyrgyz Republic), Kazan (Tatarstan) and Xian (China).
KazakhExport is a full member of “Prague club of the Berne Union” and “Aman Union”.
On June 29, 2020 Moody’s Investors Service has published an updated credit opinion on the Export Insurance Company “KazakhExport”. The current rating of the Insurer’s Financial Stability on the international scale is “Baa3” with a positive outlook.
Analyzing the activities of KazakhExport, the experts noted a very high level of equity, growth in profitability, good financial flexibility, prevailing share in insurance loan market for several years, effective promotion of underwriting standards.
Analysts also stressed the role of the export insurance company during the pandemic, which caused an economic downturn in all sectors of the economy.
At the end of 2019 KazakhExport was provided the state guarantee of Kazakhstan for export support in the amount of $ 228 mln. with a validity period of 10 years as security for its obligations related to the payment of insurance arrears.
As of November 1, 2020 The authorized capital of the Company is $ 232.8 mln, and the company’s equity has increased to $ 251.2. This contributes to the development of export transactions through support tools for Kazakhstani suppliers.