New Zealand Export Credit (NZEC)

What New Zealand Export Credit (NZEC) does

New Zealand Export Credit (NZEC) is a Crown-owned export credit agency established in 2001 as a business unit of The Treasury, operating under section 65ZD of the Public Finance Act 1989. It is headquartered in Wellington with a small team of 7-9 employees and provides trade credit insurance, export credit guarantees, pre-credit insurance, contract and surety bond guarantees, loan guarantees, short-term financing guarantees, and (from August 2024) political risk insurance to New Zealand exporters. The agency's risk-bearing capacity is capped at a maximum aggregate liability of NZD 740 million, fully backed by the NZ Government, which differentiates it from private trade credit insurers on capital cost and risk appetite.

NZEC's business model is a premium- and fee-based underwriting model that derives revenue from policy premiums, guarantee fees, and reinsurance recoveries. It distributes products both directly and through partnerships with ANZ, ASB, BNZ, Kiwibank, Westpac, and HSBC, embedding export credit into bank-originated SME finance. The agency is a member of the Berne Union and holds reinsurance arrangements with EFA (UK), EKF (Denmark), and ICIEC (Islamic markets), which it uses to manage concentration risk and extend effective underwriting capacity. In the 2024/25 financial year, NZEC carried NZD 179 million of risk exposure across 150 policies and 90 businesses, supporting NZD 524 million of exports.

The agency has held the Berne Union Presidency (2015-2017) and participates in the Capital Markets Advisory Committee, positioning it within the broader NZ export policy and capital markets ecosystem. Named customers span food and agriculture (including Mr Apple), manufacturing, ICT, and healthcare sectors, indicating a diversified exporter base. Importantly, NZEC is not a technology company and does not disclose any AI/ML capabilities; its competitive position rests on sovereign credit backing, statutory authority, and distribution relationships rather than technology differentiation.

Name

New Zealand Export Credit (NZEC)

Legal name

New Zealand Export Credit

Website

https://exportcredit.treasury.govt.nz

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Short description

New Zealand Export Credit (NZEC) is a Crown-owned export credit agency providing trade credit insurance, financial guarantees, and political risk insurance to New Zealand exporters, backed by the NZ Government under the Public Finance Act 1989.

Ownership category

akta.pro rank

Product category

Export Credit Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Depository Credit Intermediation (5221), Credit Intermediation and Related Activities (522)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Insurance Carriers, Nec (6399)

akta.pro primary industry

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

akta.pro secondary industries

Export Credit Agencies (ECAs) & Official Export Finance (FSABAKAC), Political Risk & Trade Credit Reinsurance (FSAOABAN), Trade Finance, Export Credit & Risk Mitigation (BPADAMAG), Pre-Export & Export Finance (Working Capital, Packing Credit) (FSABAHAG)

Keywords

• Export credit insurance
• Trade credit insurance
• Financial guarantee solutions
• Export finance services
• Government-backed guarantees

Headquarters

HQ city

Wellington

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Trade Credit Insurance Premiums: Risk-weighted premiums charged for export credit insurance and guarantee products covering commercial and political risks.
2. Financial Guarantee Fees: Fees for financial guarantees including loan guarantees, contract bonds, and surety bonds. Premium pricing is risk-based.
3. Assessment Fees: Application assessment fees charged for formal evaluation of export credit transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

NZEC provides Crown-backed trade credit insurance and financial guarantee solutions to help New Zealand exporters and their banks manage commercial and political risks in international trade. Core products cover short-term and long-term non-payment risk, pre-credit production exposure, contract and surety bonds, loan guarantees for working capital access, short-term financing guarantees on letters of credit, and political risk insurance for overseas investments.

Product overview

NZEC provides a portfolio of government-backed financial guarantee and insurance products designed to help New Zealand exporters manage risks and access trade finance. The core offerings include Short-Term Trade Credit Insurance (covering buyer non-payment for short-term sales), Export Credit Guarantee (for credit terms over one year), Pre-Credit Insurance (covering pre-delivery production costs), and Loan Guarantee (enabling SME access to bank funding under 50/50 risk-sharing). Additional products include General Contract Bond Guarantee and Surety Bond Guarantee (for performance/payment bonds, including 100% capacity for US markets), Short-Term Financing Guarantee (for letters of credit), and the recently introduced Political Risk Insurance (PRI) for political risk coverage. These products are fully backed by the New Zealand Government with a maximum aggregate liability of NZD $740 million.

Differentiator

Problem solved

Functional benefit

Products and services

• Short-Term Trade Credit Insurance

Quantifiable outcome

• $4 billion+ of New Zealand exports supported since establishment in 2001
• +3 more outcomes

Named customers25 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

21 partnerships are on record, tiered core and minor.

• ANZcoreChannel Partner/ Reseller/ DistributorANZ is a key banking partner for NZEC. Gareth Coleman, Head of Trade & Supply Chain, serves as the main contact for trade finance partnerships.
• ASBcoreChannel Partner/ Reseller/ DistributorASB partners with NZEC to support exporters. Mike Atkins, Head of Trade Finance, is the main contact.
• BNZcoreChannel Partner/ Reseller/ DistributorBNZ works with NZEC on loan guarantees and trade finance solutions. Hayden Douglas, Head of Trade, is the main contact.
• KiwibankcoreChannel Partner/ Reseller/ DistributorKiwibank partners with NZEC for working capital and bonding facilities for exporters. Luke Qin, Trade Finance Lead, is the contact.
• WestpaccoreChannel Partner/ Reseller/ DistributorWestpac is a partner bank for international business support. Steve Thompson, Head of International Business New Zealand, is the contact.
• HSBCcoreChannel Partner/ Reseller/ DistributorHSBC New Zealand works with NZEC on trade finance. Vineet Arya is the main contact.
• New Zealand Trade and Enterprise (NZTE)coreGTM or Marketing PartnerNZTE introduces exporters to NZEC and supports Focus portfolio companies. Refer case study with Robomate.
• Callaghan InnovationcoreGTM or Marketing PartnerGovernment innovation agency that may refer innovative exporters to NZEC for support.
• Aon New ZealandminorChannel Partner/ Reseller/ DistributorInsurance broker for trade credit. Neil Bhikharidas, Aon Trade Credit, is the contact.
• Business.govt.nzcoreGTM or Marketing PartnerGovernment business development agency providing resources for exporters.
• Export Finance Australia (EFA)coreStrategic or Co-development PartnerReinsurance arrangement to facilitate exports from Australia and New Zealand for joint or lead contractor/sub-contractor arrangements.
• EKF (Denmark)coreStrategic or Co-development PartnerReciprocal reinsurance agreement signed in July 2017. Enables risk-sharing for New Zealand exports.
• Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)coreStrategic or Co-development PartnerReinsurance arrangement providing opportunity to reinsure NZ exports to Government and public buyers from ICIEC's Islamic country members.
• Sweden's EKNcoreStrategic or Co-development PartnerServices Arrangement under which EKN provides expertise including risk assessments from specialist country risk team.
• Berne UnioncoreStrategic or Co-development PartnerInternational association of export credit agencies. NZEC chaired the Prague Club Committee between 2015-2017 and served on Berne Union's Management Committee.
• Liberty Mutual Insurance CompanycoreStrategic or Co-development PartnerMaster indemnity arrangement to enable provision of surety bonds on behalf of NZ exporters in North America.
• MarshminorChannel Partner/ Reseller/ DistributorInsurance broker contact: Nick Chan, Trade Credit Executive.
• Lockton Companies NZ Limited PartnershipminorChannel Partner/ Reseller/ DistributorInsurance broker contact: Mike Kayes, Head of Credit Specialties.
• Crombie Lockwood (NZ) LimitedminorChannel Partner/ Reseller/ DistributorInsurance broker contact: Jac Heale, Head of Trade Credit and Surety.
• Willis Towers WatsonminorChannel Partner/ Reseller/ DistributorInsurance broker contact: Courtney Bliss, National Manager.
• National Credit Insurance (Brokers) NZ LtdminorChannel Partner/ Reseller/ DistributorCredit insurance broker contact: Zara Mends, General Manager Sales & Service NZ.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Export Finance Australia (EFA): Australia's official export credit agency, providing trade finance, loans, guarantees and insurance to Australian exporters. Direct peer to NZEC as a government-backed ECA in a neighbouring jurisdiction, and an active reinsurance partner to NZEC under a 2011 reciprocal arrangement.
• BPI France (Export): France's public investment bank and export credit agency, providing guarantees, insurance and financing for French exporters. Direct peer to NZEC as a government-backed export finance institution with a comparable guarantee/insurance portfolio.
• EKF (Denmark's Export Credit Agency): Denmark's official export credit agency offering guarantees and insurance for Danish exporters and their banks. Direct peer to NZEC as a government ECA; NZEC has a reciprocal reinsurance agreement with EKF signed in July 2017.
• SACE (Italy): Italy's export credit agency offering trade credit insurance, guarantees and investment protection. Direct peer to NZEC in product scope (trade credit insurance, political risk, surety), though operating at materially larger scale.
• Export-Import Bank of the United States (EXIM): The official US export credit agency providing loans, guarantees and insurance to support US exports. Direct peer to NZEC as a sovereign-backed ECA serving a comparable set of exporter needs (working capital, bonding, medium/long-term credit).
• Export Development Canada (EDC): Canada's export credit agency providing trade finance, insurance, bonding and capital solutions to Canadian exporters and investors. Direct peer to NZEC as a Crown-backed ECA serving a comparable SME-and-mid-market exporter base, with a similar guarantee/insurance product mix.
• UK Export Finance (UKEF): The United Kingdom's export credit agency, providing loans, guarantees and insurance to support UK exports. Comparable to NZEC in mandate (Crown-backed ECA), product set and Berne Union membership, though materially larger in capacity and headcount.

Broad incumbents

• Allianz Trade (formerly Euler Hermes): World's largest private trade credit insurer, part of Allianz Group, providing trade credit insurance, surety and collections services globally. Broad incumbent competitor to NZEC in the NZ trade credit insurance market; named contact for NZEC's broker/insurer ecosystem.
• Atradius: One of the world's largest private trade credit insurers, providing credit insurance, surety and debt collection worldwide. Direct competitor to NZEC in the NZ trade credit insurance market and a named partner/contact in NZEC's broker network.
• Coface: Global private trade credit insurer offering credit insurance, surety, factoring and information services. Direct competitor to NZEC in the NZ trade credit insurance market and a named partner/contact in NZEC's broker ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=H8TF2GWUsEU
• LinkedInlinkedin.com/company/new-zealand-export-credit

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 New Zealand Export Credit (NZEC)