Page 36 - ECI PR REPORT JANUARY 2025

1/31/25, 5:04 PM Etihad Credit Insurance receives AA- rating with stable outlook from Fitch Ratings - Middle East News 247

Praising ECI’s high credit rating, H.E. Bin Touq said: “ECI’s favourable rating from Fitch ratings demonstrates the confidence of business communities in the
national economy, and promotes its reputation regionally and globally, thereby consolidating the country’s position as a leading hub for business and trade. In
keeping with the ‘We the UAE 2031’ initiative, which aims to increase the country’s GDP to AED 3 trillion by the next decade and increase non-oil exports to
AED 800 billion, the latest milestone highlights our national efforts to strengthen the company’s crucial role in creating a competitive environment for
exporters and importers, while helping increase the momentum of export and re-export activities of UAE-based companies.”

Many factors have contributed to ECI’s latest milestone, including government support, especially as the UAE’s federal export credit agency, coupled with its
capital strength and the absence of any financial constraints. Other key determinants also included the company’s robust reinsurance program, its
unparalleled expertise in the field, and the capacity to insure the risks associated with UAE foreign trade.

H.E. Raja Al Mazrouei, CEO of ECI, underlined that this rating is one of the highest rates offered by specialised agencies, making it a new gauge of the
company’s financial performance and risk tolerance strength. This success, Her Excellency said, is the outcome of ECI’s strategic roadmap, which aims to
increase the volume of credit assistance provided to manufacturers and exporters. “The AA-rating further helps ECI provide its services and solutions more
effectively worldwide, boosts national export competitiveness, and makes it easier for Emirati products to reach targeted global markets,” H.E. Al Mazrouei
added.

Since its inception, Etihad Credit Insurance has played a crucial role in supporting the national economy and non-oil foreign trade. By enabling local trade
and manufacturing activities, empowering entities with tools to protect against trade and political risks, reducing the cost of trade financing, facilitating project
financing, and allowing access to trade financing solutions and international markets, ECI continues to advance national economic goals with its broad
portfolio of comprehensive services.

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