Results of business activities in first half -year 2007

Export Guarantee and Insurance Corporation (EGAP) concluded more than 150 new insurance contracts in the total value CZK 20.4 billion during the first six months of 2007 representing almost 2/3 of the volume set out in the business plan for this year. Insurance of buyer credits participates by more than one half in this result. Exports to Russia belonged among largest business transactions, e.g. delivery of machine tools and paint works for Uralvagonzavod in Yekaterinburg for CZK 3 billion, steam-gas power plant for the City of Krasavino for CZK 2.4 billion and equipment for a rolling-mill in Staryi Oskol for CZK2.2 billion.

Simultaneously, insurance contracts for new types of insurance included in EGAP's portfolio at he end of last year were signed. It is insurance of credits for investment in foreign countries in an aggregate value of CZK 777 million and insurance of export supplier credits financed by a bank worth CZK 37 million.

The premium written from all newly concluded contracts reached CZK 481 million. Since the beginning of this year, EGAP has paid claims in the amount of CZK 198 million and recovered debts worth CZK 157 million.

Vlastimil Nesrsta
Spokesperson for EGAP

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