Four years after the Cabinet Committee on Economic Affairs approved the listing of the Export Credit Guarantee Corporation (ECGC), the government is now set to move ahead with its initial public offering (IPO) later in the current financial year, sources said.
The proposed listing aims to unlock the company’s market value and allow it to mobilise fresh capital for expansion. The additional funds will help strengthen export credit insurance schemes and raise ECGC’s Maximum Liability (ML) cover—the total amount it can be held liable for under all insurance policies—from Rs 1.5 lakh crore to over Rs 2 lakh crore.
“After recent discussions, it has been decided to undertake the listing of ECGC in the current financial year,” an official aware of the matter said, adding that it will promote corporate governance through transparency and greater accountability.
Backed by steady investment income, ECGC reported a net profit of Rs 2,077 crore in FY25, broadly unchanged from the previous year. The value of exports supported under its policies rose 16% to Rs 8.55 lakh crore, while gross premium collections touched a record Rs 1,367 crore. Claims settled during the year amounted to Rs 453.46 crore, up marginally from ₹450.31 crore in FY24.
The corporation continues to maintain a strong financial position, with a solvency ratio of 57.13—far above the Insurance Regulatory and Development Authority of India’s (IRDAI) mandated minimum of 1.50, indicating Rs 57.13 in available assets for every Re 1 of liabilities. As of March 31, 2025, ECGC’s net worth stood at Rs 13,484.76 crore, comprising ₹4,338 crore in paid-up capital and Rs 9,146.76 crore in reserves and surplus.
In response to recent U.S. tariff-related disruptions, ECGC has introduced strengthened measures to support exporters and mitigate emerging trade risks.
To support Indian exporters, the company has recently taken a slew of measures such as enhanced cover of 90% for Banks for their export credit loans to the small exporters in a cost-effective manner, digitalization of all its processes through the revamped ERP & client portal systems, setting up of common facilitation Centre at its central office to assist exporters and banks on Export credit and Insurance-related issues, simplified procedure for settlement of small value claims up to Rs 10 Crore and enhanced Insurance cover for collateral-free Export credit to Micro and Small Exporters.