Meelis Tambla has graduated from the economics department of the Tallinn Technical University in 1993 (majoring in financial management) and took his Master’s degree in the United States in finance and investment. For over 13 years, he has been working in the area of finance, being a field manager in different U.S. banks, the director of private banking in SEB Bank and a Member of the Board in Hansa Investments. Since 2008, Mr Tambla has been working as the Chairman of the Board at OÜ Nordbiochem.

 

The other Member of the Board is Ms Mariko Rukholm, whose responsibilities will, above all, include product development and customer relations. Ms Mariko Rukholm has graduated from the economics department of the Tallinn Technical University (majoring in banking) and has a Master’s degree in business finance. For over 8 years, she has been working in the field of credit insurance, of which 4 years as an account manager at KredEx and, since 2005, as a broker and development manager at Marsh Real Estate Estonia.

 

The members of the PLC council are Ms Kertu Fedotov from the Insurance Policy Department of the Ministry of Finance, Mr Jarmo Tuisk from the Economic Development Department of the Ministry of Economic Affairs and Communications, and the KredEx CEO, Mr Andrus Treier.

 

At present, the enterprises can apply for state export guarantees at KredEx. Proceeding from the European Union current state aid rules, KredEx is currently able to guarantee export transactions mainly to third countries located outside the EU and OECD. The new insurance company will be able to offer export insurance for EU and OECD countries as well, enabling to manage credit risks connected with export and to enter new markets.

 

Two thirds of the shares of Kredex Credit Insurance Inc belong to the Estonian state and one-third to Kredex. The Ministry of Economic Affairs and Communications will pay 200 million kroons and Kredex will pay 100 million kroons for the share capital. Moreover, state guarantee reserves will be increased by 200 million kroons from the European Regional Development Fund.

 

KredEx Credit Insurance Inc will commence in ca six months, after the authorisation by the Financial Supervision Authority. Until the authorisation is obtained, KredEx will continue to issue the guarantees, afterwards all export activities will be transferred into the credit insurance company.