AIG Global Trade & Political Risk Insurance Company has increased capacity to support political risk insurance policies with limits up to $120 million per risk, from $100 million per risk.
The company said that the increased capacity is also available in foreign currencies with maximum limits of E75 million, GBP60 million, or JPY12.5 billion for any one risk. It has also increased per buyer capacity in support of trade credit insurance policies to $95 million from $75 million, and its equivalent in sterling, euro, or yen.
The new limits are applicable for all classes of political risk insurance (PRI). AIG Global’s PRI covers a range of political perils that can affect foreign direct investments and assets, project finance, export or import transactions, or cross-border financings to private or sovereign borrowers-whether for working capital, trade related or capital market borrowings. On-shore and local currency risk exposures in emerging countries may also be covered.
John Salinger, president of AIG Global, said: Globalized trade and investment flows have resulted in a trend toward larger transactions and diversified risk exposures in a number of currencies. By responding to their needs, AIG Global is again demonstrating its commitment to remaining at the forefront of meeting customers’ ever more complex coverage requirements.