Business results for 1st half of 2009

For the 1st half of 2009 EGAP concluded 158 insurance contracts for export of Czech goods, services and investments in 38 countries of the world in the total value of 23.8 billion CZK which represents 61% of the planned annual performance. The insurance premium amounted 348 million CZK was effected in relation to the concluded contracts. Considering a multiplication effect of state support for the insurance, especially in case of bank guarantees issued in connection with export projects, EGAP supported Czech export in the volume of approximately 62 billion CZK for the first six months of this year. The achieved results positively show the anti-crisis measures that EGAP accepted at the end of last year, which means that also during the crisis Czech exporters manage to assert themselves on international markets, especially in Russian Federation and other CIS countries.

In terms of individual insurance products one third of the insured volume fell on the insurance of export buyer credits provided to foreign importers mainly for purchase of mine machinery and technologies, petrochemical industry equipment, metallurgical works and metallurgy and means of transport.

During the 1st half of 2009 EGAP paid indemnifications in the total amount of 403 million CZK, from which two thirds were indemnifications by virtue of the insured losses in Cuba. At the same time there were enforced receivables in the amount over 4 million CZK.

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