CA CIB and Sinosure enhance ties

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29 July 2010

Credit Agricole CIB and Sinosure have signed a comprehensive business cooperation agreement to further develop support for their clients.

Sinosure's executive vice president, Liang Zhidong, and Credit Agricole's global head of export finance, Henri d'Ambrieres, at the signing ceremony in Beijing.

Crédit Agricole CIB has signed a comprehensive business cooperation agreement with China’s state export credit insurance company, Sinosure. This agreement confirms the willingness of the parties to develop and enhance their cooperation over the coming years.

According to the cooperation agreement, the two parties will combine their strengths to...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%