Export Insurance Agency of Armenia

What Export Insurance Agency of Armenia does

Export Insurance Agency of Armenia (EIA) is a state-owned closed joint-stock company established on October 23, 2013 by the Government of Armenia and wholly owned by the Republic of Armenia, with share management delegated to the Ministry of Economy. The agency operates as Armenia's sole authorized export credit agency, serving resident Armenian exporters across agriculture, food processing, beverages, and manufacturing verticals. Its mission is to stimulate non-commodity exports by insuring exporters against foreign buyer non-payment and by enabling collateral-free bank financing for export operations.

EIA's product portfolio comprises four core insurance lines: short-term commercial credit export insurance (0.55%-1.90% premiums, up to 2-year coverage), pre-export financing insurance (0.9%-2.7%, up to 2-year bank loans), capital expenditure financing insurance (1.5%-4.7%, up to 5-year terms), and international factoring insurance (0.65%-2.10%). A fifth cargo insurance product was added in July 2024 in partnership with Nairi Insurance for agricultural exporters. Underwriting risk is transferred to Swiss Re, which holds AA- (S&P), Aa3 (Moody's), and A+ (A.M. Best) ratings. The agency does not develop proprietary technology and has no disclosed AI or digital underwriting capabilities.

Revenue is generated through annual insurance premiums under a subscription-based model, with pricing tied to buyer creditworthiness, country risk class, and historical collaboration. EIA distributes its products through a network of approximately 16 Armenian partner banks (including Ameriabank, ACBA, Araratbank, Converse Bank, IDBank, VTB Armenia) and directly to exporters, complemented by international partnerships with the Bern Union, Prague Club, and Export Credit Greece. The agency employed 14 staff as of the latest disclosure and received a Ba3 stable credit rating from Moody's in 2025.

Name

Export Insurance Agency of Armenia

Legal name

Export Insurance Agency of Armenia CJSC

Website

https://eia.am

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Export Insurance Agency of Armenia is a state-owned export credit agency, wholly owned by the Republic of Armenia, that insures Armenian exporters against foreign buyer non-payment and enables collateral-free bank financing through a network of 16 partner banks.

Ownership category

akta.pro rank

Product category

Export Credit Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Export Credit Agencies (ECAs) & Trade Finance Institutions (BPADACAF)

akta.pro secondary industries

Trade Finance, Export Credit & Risk Mitigation (BPADAMAG), Structured Trade & Export Credit (ECA-backed, Structured Solutions) (FSABAHAJ)

Keywords

• Export credit insurance
• Trade credit insurance
• Export financing insurance
• International factoring insurance
• Export risk coverage

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Supply Chain, Technology or R&D

Revenue model

1. Export Credit Insurance Premiums: The agency generates revenue through insurance premiums charged to Armenian exporters for coverage against foreign buyer non-payment risks, including commercial and political risks.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Export Insurance Agency of Armenia (EIA) is a state-owned export credit agency that insures Armenian exporters against foreign buyer non-payment risks and supports their access to collateral-free bank financing. It offers four core insurance products — short-term commercial credit export insurance, pre-export financing insurance, capital expenditure financing insurance, and international factoring insurance — which protect exporters and partner banks against commercial risks (buyer insolvency) and political risks (war, sanctions, administrative decisions). The agency reinsures its accumulated risks with Swiss Re and distributes its products through a network of approximately 16 partner Armenian banks.

Product overview

Export Insurance Agency of Armenia (EIA) operates as a state-owned export credit agency offering a portfolio of four core insurance products: (1) Short-term Commercial Credit Export Insurance, (2) Pre-Export Financing Insurance, (3) Capital Expenditure Financing Insurance, and (4) International Factoring Insurance. These products are designed to protect Armenian exporters against buyer non-payment risks (commercial and political) and to facilitate access to collateral-free bank financing. A fifth product, Cargo Insurance, was launched to cover transit risks for agricultural exporters. The agency also acts as a reinsurer, transferring accumulated risks to Swiss Re. The portfolio works as an interconnected system where export insurance enables exporters to access favorable bank financing, and financing insurance products support working capital and capital investment needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Export Insurance (Short-term Commercial Credit Insurance)

Quantifiable outcome

• Insurance coverage for export transactions up to 2 years for short-term commercial credit
• +1 more outcomes

Named customers7 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• Nexia AcademyminorGTM or Marketing Partner · 23 April 2026Joint initiative to provide training courses on ESG reporting for exporters, aimed at raising awareness about environmental, social, and governance reporting importance.
• Nairi InsuranceminorStrategic or Co-development Partner · 25 July 2024Joint program for cargo insurance for agricultural exporters, covering potential damage to cargo during customs delays at border crossings.
• Export Credit Greece (ECA)minorStrategic or Co-development Partner · 23 May 2024Partnership agreement signed at Bern Union Prague Club national meeting in Athens for cooperation in information exchange and experience sharing between the two ECAs.
• Bern UnioncoreStrategic or Co-development Partner · 1 January 2013The Bern Union is the world's largest association of export credit and investment insurance organizations, founded in 1934 to promote cross-border trade and investment. EIA became a member in 2013.
• Prague ClubminorStrategic or Co-development Partner · 1 January 2013Forum for information exchange among export credit agencies, established in 1993 by MEHIB (Hungary), KUKE (Poland), EGAP (Czech Republic), EXIM Romania, and Export Corporation (Slovenia). EIA has been a member since 2013.
• Swiss Reinsurance Company LtdcoreTechnology or IntegrationSwiss Re is the reinsurance partner for the agency, providing reinsurance coverage for accepted risks. Swiss Re holds strong credit ratings: AA- (S&P), A+ (A.M. Best), Aa3 (Moody's). Based in Switzerland.
• Armenian Banks and Financial OrganizationscoreChannel Partner/ Reseller/ Distributor16 partner banks including Ameriabank, ACBA, Araratbank, Armswissbank, Artsakhbank, Byblos Bank Armenia, DICA, Evoca, IDBank, Inecobank, Unibank, Fastbank, AMIO Bank, VTB, Converse Bank, and others that provide financing backed by export insurance certificates.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Atradius: Major private trade credit insurer offering credit insurance and bonding products globally; competes with public ECAs for exporter buyer-credit coverage and provides benchmark for private-sector alternatives.
• Euler Hermes (Allianz Trade): World's largest private trade credit insurer, now part of Allianz. Competes with public ECAs like EIA for Armenian exporter business, particularly on buyer credit coverage.
• Coface: Global private trade credit insurer offering export credit insurance products that overlap with EIA's short-term commercial credit insurance offering to Armenian exporters.
• NEXI (Nippon Export and Investment Insurance): Japanese ECA offering comprehensive export credit insurance and trade finance support. A much larger peer within the same Bern Union ecosystem, providing scale benchmark.

Direct peers

• KUKE (Korporacja Ubezpieczeń Kredytów Eksportowych): Polish state-owned ECA offering export credit insurance, pre-export financing insurance, and factoring insurance — virtually identical product set to EIA Armenia, comparable as a small/mid-sized Central European ECA peer.
• EGAP (Export Guarantee and Insurance Corporation): Czech ECA providing export credit insurance and investment insurance for Czech exporters. A fellow Prague Club founder and Bern Union member, making it a closely comparable institutional peer to EIA.
• Export Credit Greece: Greek ECA offering export credit insurance to Greek exporters. Signed cooperation agreement with EIA in 2024, indicating direct peer status within the European ECA ecosystem.
• MEHIB (Hungarian Export Credit Insurance): Hungarian state-owned ECA founded 1994 and Prague Club co-founder. Offers export credit insurance and guarantees for Hungarian exporters, closely comparable in mandate and product mix.
• EXIM Romania: Romanian state-owned ECA and Prague Club co-founder, offering export credit insurance and guarantees. Comparable as a small emerging-market European ECA peer to EIA Armenia.
• ECGC Limited (Export Credit Guarantee Corporation of India): Indian state-owned ECA providing export credit insurance and guarantees. Comparable as a state-owned ECA serving a developing-economy exporter base, though operating at much larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/export-insurance-agency-of-armenia

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Export Insurance Agency of Armenia