OREANDA-NEWS. May 31, 2013. The Russian Agency for Export Credit and Investment Insurance (EXIAR) and VTB Group have held a seminar on practical interaction within the framework of cooperation in export financing and basic approaches to export credit risk assessment.

The seminar, held in VTB's head office in Moscow, was attended by over 100 representatives of VTB Bank.

The reports were delivered by Mikhail Karyakin, Member of the EXIAR Management Board and First Deputy Director General, and Artyom Azarchenkov, Member of the EXIAR Management Board and Head of the Department for Underwriting, Risk Assessment and Insurance Products.

Mikhail Karyakin said that EXIAR’s goal is to create and introduce a modern system of financial support for exports guaranteed by the agency’s insurance coverage in Russia. He also provided information about the main insurance products, the agency’s performance in 2012 and its plans for 2013-2014.

Artyom Azarchenkov spoke about the agency’s main approaches to underwriting and risk assessment when insuring export transactions and about cooperation between VTB Bank and EXIAR.

VTB employees asked their EXIAR colleagues about the distribution of insured risks, the use of funded participation mechanisms for transaction insurance, cooperation in forming covenant and security packages, the pricing of risks in the CIS and other high-risk countries, the development of risk assessment methodology, scoring and other issues.

In April 2013 EXIAR and VTB Bank signed a strategic cooperation agreement, under which Russian exporters will be offered at least RUB 100 billion of funding under EXIAR’s insurance coverage by the end of 2015.