The Export Credit Guarantee Corporation of India (ECGC) may diversify into insurance lines that complement its primary business of export credit insurance following increased competition from the private sector.
Mr P.M.A. Hakeem, chairman and managing director, emphasised that in the event the company chose to diversify it would be in areas that complemented export credit insurance. As an example, he identified marine insurance as an area that would sit well with ECGC's core business. At present, ECGC insures about 15 per cent of India's exports. ECGC officials expect private sector players to take away a few high-end clients, but are confident of dominating the segment of the market that comprises small consignments to third world countries.
