Corporate History

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1966
  • 1966
    The Hong Kong Export Credit Insurance Corporation was established by statute on 23 December.
  • 1967-68
    The statutory maximum liability of the Corporation was raised from HK$300 million to HK$500 million.
  • 1968-69
    The statutory maximum liability of the Corporation was raised to HK$750 million.
  • 1969-70
    The Corporation was admitted as a member of International Union of Credit and Investment Insurers (Berne Union) in June 1969.
  • 1970-71
    On 1 April 1970, the Corporation entered into the first reinsurance agreement with the Swiss Reinsurance Company of Zurich.
  • 1971-72
    The statutory maximum liability of the Corporation was raised to HK$1 billion.
  • 1972-73
    The Commissioner attended Berne Union Annual General Meeting in Denmark in June 1972.
  • 1973-74
    Starting from 1 March 1974, the Chinese name of the Corporation was officially amended to express more appropriately the nature of its business.
  • 1974-75
    The statutory maximum liability of the Corporation was raised to HK$1.75 billion.
  • 1975-76
    The Corporation progressively converted the indemnity ratio of the policies from the original 85% to 90%.
  • 1976-77
    The Corporation was elected as a member of the Berne Union’s 12-member Management Committee, serving from 1 July 1976 to 30 June 1977.

    The Corporation hosted the Berne Union Spring Meeting of the Management Committee in Hong Kong from 27 to 30 March 1977.
  • 1977-78
    The statutory maximum liability of the Corporation was raised to HK$2 billion.
  • 1978-79

    The Corporation organised records of more than 35,000 overseas buyers to prepare for the implementation of data processing plans.

  • 1979-80
    The Commissioner, Mr Arie W. Wernas was elected as the Vice President of the Berne Union.
  • 1980-81
    The statutory maximum liability of the Corporation was raised to HK$2.5 billion.
  • 1981-82
    The Corporation hosted the Berne Union Winter Meeting in Hong Kong in February 1982.
  • 1982-83
    On 25 January 1983, the Hon. William Dorward, ex-Secretary for Trade and Industry officiated at the official opening of the Corporation’s new office premises.
  • 1983-84
    The Corporation was elected as a member of the Berne Union’s Management Committee.

    The enhanced “Comprehensive Shipments Policy” was introduced in February 1984 and the first new policy was issued on 1 March 1984.
  • 1984-85
    On 1 October 1984, the Corporation entered into a quota share treaty with a syndicate of reinsurers.
  • 1985-86
    In March 1986, the Corporation introduced the new “Comprehensive Contracts Policy”, which protected exporters against a range of pre-shipment risks in addition to post-shipment risks.
  • 1986-87
    The Governor, Sir David Wilson attended the Corporation’s 20th Anniversary dinner.

  • 1987-88

    In June 1987, the Corporation hosted a Berne Union workshop on “Short Term Underwriting and Credit Information” which was attended by 61 delegates from 31 countries.

  • 1988-89
    In June 1988, Mr T.H. Barma, the Commissioner was elected as the Vice President of the Berne Union for 1988-89 and the Corporation also served as a member of the Berne Union’s Management Committee during this period.

    The Corporation hosted a meeting of chief executives of regional export credit insurance agencies in November 1988. It also organised a workshop in January 1989 on computerisation of export credit insurance operation, which was attended by technical staff from export credit insurance agencies from Singapore, India, Malaysia and Indonesia.
  • 1989-90
    The Corporation hosted the Berne Union General Meeting in February 1990, which was attended by more than 90 delegates representing 36 member organisations from 30 countries.
  • 1990-91
    The Corporation played an active role in the informal Regional Cooperation Group which consisted of export credit agencies from India, Indonesia, Malaysia, Singapore, Sri Lanka, South Korea and Hong Kong, etc. The Commissioner Mr Paul Wong was elected as the Chairman of the Group for 1990-91 and attended a meeting of chief executives of the Group in Bali, Indonesia in October 1990.
  • 1991-92
    The Commissioner attended a meeting of chief executives of the Group in Bombay, India in January 1992.
  • 1992-93
    Representative from the Corporation spoke at a Regional Cooperation Group Workshop on claims and recoveries held in Jakarta, Indonesia in December 1992.
  • 1993-94
    In order to improve the standard of service to customers, the Corporation implemented the performance pledge starting 1 April 1993.
  • 1994-95
    In November 1994, the Corporation hosted a regional underwriting workshop attended by members of the informal Regional Cooperation Group.
  • 1995-96
    In September 1995, the Corporation published the first edition of the quarterly newsletter “COMPASS”. “COMPASS” provides the bridge of communication between exporters and the Corporation by keeping the exporters with up-to-date information on market and product developments, and even the latest economic developments of Hong Kong’s trading partners.
  • 1996-97
    On 19 December 1996, the Corporation awarded the ISO 9002:1994 and became the first credit insurer in the world to receive this certification.
  • 1997-98
    In May 1997, new insurance policies, namely the “Comprehensive Cover Policy” and the “Small and Medium Enterprises Policy” were launched to provide better services and to meet different customer needs.

    Starting from March 1998, the statutory maximum liability was raised to HK$10 billion.
  • 1998-99
    In June 1998, the Corporation had been assigned by the Government to administer a pilot “Credit Guarantee Scheme” to facilitate small and medium enterprises in obtaining loans from financial institutions for their pre-shipment activities.
  • 1999-2000
    The Corporation launched the Automatic Policy Underwriting Model for Renewal to speed up the policy renewal process.
  • 2000-01
    In May 2000, the “ECIC Supported Export Finance for SMEs” arrangement was introduced.

    In March 2001, the “EC-link”, an online export credit insurance platform, was introduced.
  • 2001-02
    The statutory maximum liability of the Corporation was raised to HK$12.5 billion.
  • 2002-03
    The Corporation successfully upgraded its quality systems to meet the ISO 9001:2000, with certification duly awarded.
  • 2003-04
    A CEPA Advisory Panel was formed to identify the needs of exporters entering the mainland market and to advise on relevant support measures.
  • 2004-05
    “EC-link” service was improved to allow exporters operating policy matters via the internet round the clock.
  • 2005-06
    In March 2006, the Corporation hosted the Berne Union Spring Committee Meeting.
  • 2006-07
    The Corporation launched an anniversary chronicle titled “40 Years of Development and Experience.
  • 2007-08
    On 1 April 2007, the Corporation adopted the new corporate logo.
  • 2008-09
    The statutory maximum liability of the Corporation was doubled to HK$30 billion.
  • 2009-10
    On 27 October 2009, the Corporation signed memorandum of understanding with the China Export & Credit Insurance Corporation (SINOSURE).

    The Corporation successfully upgraded its quality systems to meet the ISO 9001:2008 with certification duly awarded in November 2009.
  • 2010-11
    As an environmental initiative, the Corporation implemented the use of electronic invoices and statements to policyholders in replacement of printed versions.
  • 2011-12
    The Corporation hosted the first Capacity Building Program of the Berne Union Regional Cooperation Group in Hong Kong on 15 and 16 June 2011, which was attended by representatives from 11 Asian export credit agencies.

    On 6 February 2012, the Corporation signed a reinsurance agreement with the Nippon Export and Investment Insurance (NEXI) of Japan.
  • 2012-13
    The statutory maximum liability of the Corporation was raised to HK$40 billion.

    The Corporation launched the “Small Business Policy” on 1 March 2013.
  • 2013-14
    The Corporation signed memoranda of understanding with Korea Trade Insurance Corporation (K-sure) and Taipei Export-Import Bank of China (TEBC) separately during the Regional Cooperation Group Meeting of the Berne Union in Xi’an, China on 22 and 23 July 2013.
  • 2014-15
    The Corporation hosted the seventh Regional Cooperation Group CEO Meeting of the Berne Union on 21 and 22 July 2014 in Hong Kong, which was attended by representatives from 10 Asia Pacific export credit agencies.
  • 2015-16
    Further to the signing of memoranda of understanding with China Export & Credit Insurance Corporation (SINOSURE) in 2009 and Taipei Export-Import Bank of China (TEBC) in 2013, the Corporation first hosted the tri-party exchange meeting, the "Cross-strait Export Credit Insurance Seminar”, in Hong Kong on 23 to 25 November 2015. Over 50 delegates from SINOSURE, TEBC and the Corporation participated in the seminar and shared their knowledge and experience.
  • 2016-17
    The year 2016 marked the Corporation's 50th anniversary. In celebration of its Golden Jubilee, the Corporation organised a series of activities throughout the year to commemorate its contribution and support to Hong Kong’s export industry since its inception in 1966.

    The Corporation successfully upgraded its quality systems to meet the ISO 9001:2015 with certification duly awarded in November 2016.
  • 2017-18
    The statutory maximum liability of the Corporation was raised to HK$55 billion.
2017
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