Latest news with #EtihadCreditInsurance
Mid East Info
27-05-2025
- Business
- Mid East Info
Etihad Credit Insurance achieves AED 16.2 billion in insured turnover with a 15.7% growth in more than 100 countries across 17 strategic sectors
H.E. Abdulla Bin Touq Al Marri: Under the directives of its wise leadership, the UAE has adopted innovative strategies to enhance economic diversification, and Etihad Credit Insurance (ECI) plays a vital role in supporting this Etihad Credit Insurance's results reflect the success of our efforts to enhance the global competitiveness of local companies and consolidate the UAE's economic position regionally and globally We are keen to expand the scope of the company's credit guarantees to include a number of major deals in the infrastructure and energy sectors in African markets The company's gross exposure increased to AED 11 billion, exceeding its 2023 levels by 14.58% UAE, May, 2025: Etihad Credit Insurance (ECI), the UAE federal export credit company, has revealed a remarkable year of growth and strategic achievement in its 2024 Annual Report, with insured turnover reaching AED 16.2 billion – reflecting a 15.7% year-on-year increase and accounting for 2.85% of the UAE's total non-oil exports. This was announced during a media briefing led by H.E. Raja Al Mazrouei, Chief Executive Officer of ECI, and other senior officials from the company. These figures underscore ECI's deepened contribution to supporting and safeguarding UAE-based exporters and investors through strategic credit solutions in over 100 countries and 17 strategic sectors. In 2024, the UAE's non-oil foreign trade surged to AED 3 trillion, marking a 14.6 percent increase over the previous year. ECI's contribution plays a vital role in advancing the nation's goal of achieving AED 800 billion in the country's non-oil exports by the next decade, in line with 'We the UAE 2031' economic goals. Since its inception, the company has facilitated over AED 21 billion in cumulative export trade and investment, resulting in booked Gross Written Premium (GWP) of AED 447 million, reflecting strong portfolio growth and a high retention rate. H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, said: 'Guided by the unwavering support and directives of our wise leadership, the UAE has made remarkable strides in building a resilient, innovative, and knowledge-based economy. At the heart of this transformation is economic diversification, with non-oil industries, exports, re-exports, and non-oil foreign trade playing a central role in shaping our future aligned with the 'We the UAE 2031' vision. Today, non-oil sectors contribute 74.6% to the UAE's GDP—underscoring their growing role in shaping the country's economic future. Etihad Credit Insurance has significantly contributed to advancing this vision by fostering the expansion of UAE-based companies, enabling broader market access, and reinforcing key economic partnerships through targeted collaborations and tailored credit insurance solutions. By helping UAE businesses compete more effectively on the global stage, ECI plays a vital role in accelerating non-oil export growth and strengthening the country's standing as a leading, diversified economic powerhouse.' H.E. Bin Touq further noted that ECI has extended credit guarantees to cover several major infrastructure and energy deals in African markets, including Angola and Senegal, in line with the UAE's strategic efforts to foster sustainable global partnerships and drive inclusive economic development. 'In 2024, ECI provided targeted trade and investment insurance solutions to projects that advance clean energy, food security, critical infrastructure, and water sustainability. These efforts reflect our growing role in shaping a trade and export ecosystem that delivers long-term economic value while addressing urgent global challenges such as climate change and social equity,' H.E. elaborated. The report stated that the company has witnessed a gross exposure of AED 11 billion – a 14.58 percent increase over 2023. This growth was supported by a diverse portfolio, with over 60 percent of beneficiaries comprising small and medium-sized enterprises (SMEs). The report highlighted that ECI secured AA- international rating by Fitch for the sixth consecutive year, reflecting on the company's ability to mitigate potential risks and reiterate its strong presence in global markets. H.E. Raja Al Mazrouei, CEO of ECI, said: 'We are committed to supporting the UAE's accelerated drive toward economic resilience and long-term sustainability. By offering innovative credit solutions, streamlined access to financing, and forging high-impact strategic partnerships, we empower UAE exporters, particularly SMEs, to unlock new opportunities and scale globally with confidence in an increasingly competitive world. This is reflected in ECI's strong performance in 2024, which not only underscores its pivotal role in enabling the national export competitiveness but also its commitment to empowering businesses with the tools and confidence to expand into new global markets. A key milestone for us in 2024 was the launch of Xport Xponential, a comprehensive program designed to support UAE-based companies. This new strategic initiative aligns with our commitment to increasing ECI's contribution to the non-oil GDP by 7-fold by 2031.' H.E. Al Mazrouei also reaffirmed ECI's dedication to clean and green energy initiatives in line with the UAE's sustainability commitments and United Nations Sustainable Development Goals (SDGs). 'The Africa Green Investment Initiative (AGII) led by the UAE and announced at the Africa Climate Summit, held in Nairobi in September 2023, is a multistakeholder partnership that employs an innovative approach to climate finance, combining the resources, expertise, and local knowledge of the following partners: Abu Dhabi Fund for Development; Masdar; AMEA Power; Africa 50; and Etihad Credit Insurance. AGII aims to deploy $4.5 billion in African renewable energy capacity by the end of the decade. This initiative represents one of the most comprehensive efforts to drive climate action and decarbonization in emerging economies and least developed countries to date and builds on the UAE's long-standing commitment to international cooperation and sustainable socio-economic development'. Furthermore, the report revealed that ECI offers coverage of up to AED 500 million per risk, with 60 percent of that amount ceded under a quota-share arrangement. This structure is backed by nine reinsurers rated 'A' and above, reaffirming ECI's robust reinsurance treaty. The report also highlighted ECI's commitment to supporting clients beyond credit insurance. This commitment was demonstrated by the company's effective handling of overdue payments, which resulted in the collection of AED 158 million from overdue payments, achieving collection success rate of 77 percent. With this, the total debt collected by ECI since its inception has risen to AED 528 million, an 87 per cent recovery success rate. The report further detailed the composition of ECI's portfolio, noting that 70 percent of its exposure lies in Short-Term Credit Insurance (ST), which supports high-frequency trade cycles, particularly in manufacturing, ICT, and agri-exports. Medium and Long-Term (MLT) commitments account for 17 percent of the portfolio, highlighting ECI's growing involvement in infrastructure, energy, and other capital-intensive sectors. The remaining 13 percent is dedicated to Political Risk Insurance (PRI). In terms of geographic distribution, the report identified Saudi Arabia as ECI's largest export market within the Gulf and wider MENA region, accounting for 7 per cent of the company's total exposure. ECI also provided notable coverage for exports to Egypt, Oman, Qatar, and Bahrain, highlighting the strength of intra-regional trade. Beyond the Middle East, ECI supported significant trade flows to leading Asian economies such as India and Singapore, while also facilitating UAE exports to Europe – including the UK and EU – and America. Furthermore, ECI signed around 28 agreements with government export credit agencies worldwide, including US EXIM, Korea Eximbank, Sinosure, BPI France, solidifying ECI's position as a trusted partner for international trade. Finally, the report also outlined ECI's plans to leverage the UAE's Comprehensive Economic Partnership Agreements (CEPAs) to further enhance trade and strengthen commercial relations. These efforts will be supported by ECI's expanding information database, which grants access to over 400 million corporates globally, empowering UAE-based exporters with valuable insights and intelligence.
Zawya
27-05-2025
- Business
- Zawya
Etihad Credit Insurance achieves $4.41bln in insured turnover with 15.7% growth
Etihad Credit Insurance (ECI), the UAE federal export credit company, has revealed a remarkable year of growth and strategic achievement in its 2024 Annual Report, with insured turnover reaching AED16.2 billion - reflecting a 15.7 percent year-on-year increase and accounting for 2.85 percent of the UAE's total non-oil exports. This was announced during a media briefing led by Raja Al Mazrouei, Chief Executive Officer of ECI, and other senior officials from the company. These figures underscore ECI's deepened contribution to supporting and safeguarding UAE-based exporters and investors through strategic credit solutions in over 100 countries and 17 strategic sectors. In 2024, the UAE's non-oil foreign trade surged to AED 3 trillion, marking a 14.6 percent increase over the previous year. ECI's contribution plays a vital role in advancing the nation's goal of achieving AED800 billion in the country's non-oil exports by the next decade, in line with 'We the UAE 2031' economic goals. Since its inception, the company has facilitated over AED 21 billion in cumulative export trade and investment, resulting in booked Gross Written Premium (GWP) of AED447 million, reflecting strong portfolio growth and a high retention rate. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, said, 'Guided by the unwavering support and directives of our wise leadership, the UAE has made remarkable strides in building a resilient, innovative, and knowledge-based economy. At the heart of this transformation is economic diversification, with non-oil industries, exports, re-exports, and non-oil foreign trade playing a central role in shaping our future aligned with the 'We the UAE 2031' vision. Today, non-oil sectors contribute 74.6% to the UAE's GDP—underscoring their growing role in shaping the country's economic future. Etihad Credit Insurance has significantly contributed to advancing this vision by fostering the expansion of UAE-based companies, enabling broader market access, and reinforcing key economic partnerships through targeted collaborations and tailored credit insurance solutions. By helping UAE businesses compete more effectively on the global stage, ECI plays a vital role in accelerating non-oil export growth and strengthening the country's standing as a leading, diversified economic powerhouse.' Bin Touq further noted that ECI has extended credit guarantees to cover several major infrastructure and energy deals in African markets, including Angola and Senegal, in line with the UAE's strategic efforts to foster sustainable global partnerships and drive inclusive economic development. 'In 2024, ECI provided targeted trade and investment insurance solutions to projects that advance clean energy, food security, critical infrastructure, and water sustainability. These efforts reflect our growing role in shaping a trade and export ecosystem that delivers long-term economic value while addressing urgent global challenges such as climate change and social equity,' he elaborated. The report stated that the company has witnessed a gross exposure of AED 11 billion - a 14.58 percent increase over 2023. This growth was supported by a diverse portfolio, with over 60 percent of beneficiaries comprising small and medium-sized enterprises (SMEs). The report highlighted that ECI secured AA- international rating by Fitch for the sixth consecutive year, reflecting on the company's ability to mitigate potential risks and reiterate its strong presence in global markets. Raja Al Mazrouei said, 'We are committed to supporting the UAE's accelerated drive toward economic resilience and long-term sustainability. By offering innovative credit solutions, streamlined access to financing, and forging high-impact strategic partnerships, we empower UAE exporters, particularly SMEs, to unlock new opportunities and scale globally with confidence in an increasingly competitive world. This is reflected in ECI's strong performance in 2024, which not only underscores its pivotal role in enabling the national export competitiveness but also its commitment to empowering businesses with the tools and confidence to expand into new global markets. A key milestone for us in 2024 was the launch of Xport Xponential, a comprehensive program designed to support UAE-based companies. This new strategic initiative aligns with our commitment to increasing ECI's contribution to the non-oil GDP by 7-fold by 2031.' Al Mazrouei also reaffirmed ECI's dedication to clean and green energy initiatives in line with the UAE's sustainability commitments and United Nations Sustainable Development Goals (SDGs). 'The Africa Green Investment Initiative (AGII) led by the UAE and announced at the Africa Climate Summit, held in Nairobi in September 2023, is a multistakeholder partnership that employs an innovative approach to climate finance, combining the resources, expertise, and local knowledge of the following partners: Abu Dhabi Fund for Development; Masdar; AMEA Power; Africa 50; and Etihad Credit Insurance. AGII aims to deploy $4.5 billion in African renewable energy capacity by the end of the decade. "This initiative represents one of the most comprehensive efforts to drive climate action and decarbonization in emerging economies and least developed countries to date and builds on the UAE's long-standing commitment to international cooperation and sustainable socio-economic development." Furthermore, the report revealed that ECI offers coverage of up to AED500 million per risk, with 60 percent of that amount ceded under a quota-share arrangement. This structure is backed by nine reinsurers rated 'A' and above, reaffirming ECI's robust reinsurance treaty. The report also highlighted ECI's commitment to supporting clients beyond credit insurance. This commitment was demonstrated by the company's effective handling of overdue payments, which resulted in the collection of AED 158 million from overdue payments, achieving collection success rate of 77 percent. With this, the total debt collected by ECI since its inception has risen to AED528 million, an 87 percent recovery success rate. The report further detailed the composition of ECI's portfolio, noting that 70 percent of its exposure lies in Short-Term Credit Insurance (ST), which supports high-frequency trade cycles, particularly in manufacturing, ICT, and agri-exports. Medium and Long-Term (MLT) commitments account for 17 percent of the portfolio, highlighting ECI's growing involvement in infrastructure, energy, and other capital-intensive sectors. The remaining 13 percent is dedicated to Political Risk Insurance (PRI). In terms of geographic distribution, the report identified Saudi Arabia as ECI's largest export market within the Gulf and wider MENA region, accounting for 7 percent of the company's total exposure. ECI also provided notable coverage for exports to Egypt, Oman, Qatar, and Bahrain, highlighting the strength of intra-regional trade. Beyond the Middle East, ECI supported significant trade flows to leading Asian economies such as India and Singapore, while also facilitating UAE exports to Europe - including the UK and EU - and America. Furthermore, ECI signed around 28 agreements with government export credit agencies worldwide, including US EXIM, Korea Eximbank, Sinosure, BPI France, solidifying ECI's position as a trusted partner for international trade. Finally, the report also outlined ECI's plans to leverage the UAE's Comprehensive Economic Partnership Agreements (CEPAs) to further enhance trade and strengthen commercial relations. These efforts will be supported by ECI's expanding information database, which grants access to over 400 million corporates globally, empowering UAE-based exporters with valuable insights and intelligence.
Zawya
27-05-2025
- Business
- Zawya
Etihad Credit Insurance achieves AED 16.2bln in insured turnover
During a recent media briefing organised by the company H.E. Abdulla Bin Touq Al Marri: Under the directives of its wise leadership, the UAE has adopted innovative strategies to enhance economic diversification, and Etihad Credit Insurance (ECI) plays a vital role in supporting this Etihad Credit Insurance's results reflect the success of our efforts to enhance the global competitiveness of local companies and consolidate the UAE's economic position regionally and globally We are keen to expand the scope of the company's credit guarantees to include a number of major deals in the infrastructure and energy sectors in African markets The company's gross exposure increased to AED 11 billion, exceeding its 2023 levels by 14.58% UAE: Etihad Credit Insurance (ECI), the UAE federal export credit company, has revealed a remarkable year of growth and strategic achievement in its 2024 Annual Report, with insured turnover reaching AED 16.2 billion - reflecting a 15.7% year-on-year increase and accounting for 2.85% of the UAE's total non-oil exports. This was announced during a media briefing led by H.E. Raja Al Mazrouei, Chief Executive Officer of ECI, and other senior officials from the company. These figures underscore ECI's deepened contribution to supporting and safeguarding UAE-based exporters and investors through strategic credit solutions in over 100 countries and 17 strategic sectors. In 2024, the UAE's non-oil foreign trade surged to AED 3 trillion, marking a 14.6 percent increase over the previous year. ECI's contribution plays a vital role in advancing the nation's goal of achieving AED 800 billion in the country's non-oil exports by the next decade, in line with 'We the UAE 2031' economic goals. Since its inception, the company has facilitated over AED 21 billion in cumulative export trade and investment, resulting in booked Gross Written Premium (GWP) of AED 447 million, reflecting strong portfolio growth and a high retention rate. H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, said: 'Guided by the unwavering support and directives of our wise leadership, the UAE has made remarkable strides in building a resilient, innovative, and knowledge-based economy. At the heart of this transformation is economic diversification, with non-oil industries, exports, re-exports, and non-oil foreign trade playing a central role in shaping our future aligned with the 'We the UAE 2031' vision. Today, non-oil sectors contribute 74.6% to the UAE's GDP—underscoring their growing role in shaping the country's economic future. Etihad Credit Insurance has significantly contributed to advancing this vision by fostering the expansion of UAE-based companies, enabling broader market access, and reinforcing key economic partnerships through targeted collaborations and tailored credit insurance solutions. By helping UAE businesses compete more effectively on the global stage, ECI plays a vital role in accelerating non-oil export growth and strengthening the country's standing as a leading, diversified economic powerhouse.' H.E. Bin Touq further noted that ECI has extended credit guarantees to cover several major infrastructure and energy deals in African markets, including Angola and Senegal, in line with the UAE's strategic efforts to foster sustainable global partnerships and drive inclusive economic development. 'In 2024, ECI provided targeted trade and investment insurance solutions to projects that advance clean energy, food security, critical infrastructure, and water sustainability. These efforts reflect our growing role in shaping a trade and export ecosystem that delivers long-term economic value while addressing urgent global challenges such as climate change and social equity,' H.E. elaborated. The report stated that the company has witnessed a gross exposure of AED 11 billion - a 14.58 percent increase over 2023. This growth was supported by a diverse portfolio, with over 60 percent of beneficiaries comprising small and medium-sized enterprises (SMEs). The report highlighted that ECI secured AA- international rating by Fitch for the sixth consecutive year, reflecting on the company's ability to mitigate potential risks and reiterate its strong presence in global markets. H.E. Raja Al Mazrouei, CEO of ECI, said: 'We are committed to supporting the UAE's accelerated drive toward economic resilience and long-term sustainability. By offering innovative credit solutions, streamlined access to financing, and forging high-impact strategic partnerships, we empower UAE exporters, particularly SMEs, to unlock new opportunities and scale globally with confidence in an increasingly competitive world. This is reflected in ECI's strong performance in 2024, which not only underscores its pivotal role in enabling the national export competitiveness but also its commitment to empowering businesses with the tools and confidence to expand into new global markets. A key milestone for us in 2024 was the launch of Xport Xponential, a comprehensive program designed to support UAE-based companies. This new strategic initiative aligns with our commitment to increasing ECI's contribution to the non-oil GDP by 7-fold by 2031.' H.E. Al Mazrouei also reaffirmed ECI's dedication to clean and green energy initiatives in line with the UAE's sustainability commitments and United Nations Sustainable Development Goals (SDGs). 'The Africa Green Investment Initiative (AGII) led by the UAE and announced at the Africa Climate Summit, held in Nairobi in September 2023, is a multistakeholder partnership that employs an innovative approach to climate finance, combining the resources, expertise, and local knowledge of the following partners: Abu Dhabi Fund for Development; Masdar; AMEA Power; Africa 50; and Etihad Credit Insurance. AGII aims to deploy $4.5 billion in African renewable energy capacity by the end of the decade. This initiative represents one of the most comprehensive efforts to drive climate action and decarbonization in emerging economies and least developed countries to date and builds on the UAE's long-standing commitment to international cooperation and sustainable socio-economic development'. Furthermore, the report revealed that ECI offers coverage of up to AED 500 million per risk, with 60 percent of that amount ceded under a quota-share arrangement. This structure is backed by nine reinsurers rated 'A' and above, reaffirming ECI's robust reinsurance treaty. The report also highlighted ECI's commitment to supporting clients beyond credit insurance. This commitment was demonstrated by the company's effective handling of overdue payments, which resulted in the collection of AED 158 million from overdue payments, achieving collection success rate of 77 percent. With this, the total debt collected by ECI since its inception has risen to AED 528 million, an 87 per cent recovery success rate. The report further detailed the composition of ECI's portfolio, noting that 70 percent of its exposure lies in Short-Term Credit Insurance (ST), which supports high-frequency trade cycles, particularly in manufacturing, ICT, and agri-exports. Medium and Long-Term (MLT) commitments account for 17 percent of the portfolio, highlighting ECI's growing involvement in infrastructure, energy, and other capital-intensive sectors. The remaining 13 percent is dedicated to Political Risk Insurance (PRI). In terms of geographic distribution, the report identified Saudi Arabia as ECI's largest export market within the Gulf and wider MENA region, accounting for 7 per cent of the company's total exposure. ECI also provided notable coverage for exports to Egypt, Oman, Qatar, and Bahrain, highlighting the strength of intra-regional trade. Beyond the Middle East, ECI supported significant trade flows to leading Asian economies such as India and Singapore, while also facilitating UAE exports to Europe - including the UK and EU - and America. Furthermore, ECI signed around 28 agreements with government export credit agencies worldwide, including US EXIM, Korea Eximbank, Sinosure, BPI France, solidifying ECI's position as a trusted partner for international trade. Finally, the report also outlined ECI's plans to leverage the UAE's Comprehensive Economic Partnership Agreements (CEPAs) to further enhance trade and strengthen commercial relations. These efforts will be supported by ECI's expanding information database, which grants access to over 400 million corporates globally, empowering UAE-based exporters with valuable insights and intelligence. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
Sharjah 24
19-05-2025
- Business
- Sharjah 24
"Make it in the Emirates" kicks off with notable momentum
Dr Al Zarouni stated that the "Make it in the Emirates" label currently adorns over 4,500 national products, reflecting the rapid improvement in the quality and competitiveness of UAE industries. She emphasised that the ministry has established a comprehensive strategy to support the national economy through various programmes targeting all aspects of the industrial value chain. National content Programme She confirmed that the "National Content Programme," one of the ministry's key initiatives, has successfully directed around AED 110 billion to the local economy by stimulating government and private spending on Emirati products and services. The forum showcases the success stories of this programme to investors and entrepreneurs. Export credit solutions Dr Al Zarouni also highlighted that industrial companies benefit from export credit solutions through strategic partners like "Etihad Credit Insurance," which has provided support amounting to AED 2.3 billion for industrial exports, helping to expand foreign markets for national products. Annual investment opportunity She added that the "Make it in the Emirates" forum has become an annual event for showcasing the latest investment opportunities, exchanging experiences, and forming partnerships between government entities and the private sector. She encouraged the public and business owners to visit the exhibition in the remaining days to explore the vast potential offered by the UAE's industrial sector.
17-04-2025
- Business
ECI Showcases Strategic Export Solutions at TXF MEA 2025 to Bolster UAE's Global Trade Presence
Etihad Credit Insurance (ECI) spotlighted its strategic innovations in export support during the TXF MEA 2025 conference in Dubai, reaffirming the UAE's commitment to becoming a leading global trade hub. Raja Al Mazrouei, CEO of ECI, highlighted the organisation's pivotal role in facilitating national exports into key regional and international markets. She emphasised how ECI's solutions align with the UAE's We the UAE 2031 vision, which aims to boost non-oil exports to AED 800 billion within the next decade. 'Our efforts focus on enabling businesses, especially SMEs, to navigate global markets with confidence. We provide risk-mitigation tools and credit solutions to reinforce the competitiveness of UAE-made products abroad,' Al Mazrouei said. She also credited the UAE leadership's guidance in shaping a resilient and future-ready economy, stressing the importance of enhancing participation in platforms that foster trade partnerships and manufacturing growth. At the event, ECI presented mechanisms designed to help exporters manage challenges tied to global economic uncertainties. The company also underscored its ongoing initiatives to uncover new market opportunities for UAE businesses. Yasmin Bahgat, ECI's Head of Export Finance, joined a key panel discussion titled 'Going Local – The Rise of Regional ECAs in Africa and the Middle East.' The session explored regional growth trends and the evolving role of ECAs in expanding market access. TXF MEA 2025 gathered global experts in export finance, government officials, and multinational stakeholders to strengthen collaboration, drive innovation, and promote economic diversification across the MENA region. News Source: Emirates News Agency
