Page 88 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

6/4/24, 4:02 PM Etihad Credit Insurance records 21-fold growth in gross exposure - Middle East News 247

H.E. Raja Al Mazrouei, Chief Executive Officer of ECI, said: “We are committed to providing innovative
credit solutions, facilitating easy access to finance, offering expert market insights, and nurturing strategic

collaborations in line with our vision and mission to foster sustainable and secure non-oil trade for the UAE’s
economy. We empower UAE businesses to confidently participate in global trade, driving towards a robust

and well diversified economy. Leveraging our innovative approach and meticulously crafted 2023 business
plans, ECI has emerged as a beacon of stability for UAE enterprises. We have seen a significant increase in
the demand for our services, with a remarkable surge in insured trade and investment transactions. Our
dedication to protecting the interests of UAE exporters is evident in the numbers, with a 25 per cent increase

in policies issued compared to 2022.”

Al Mazrouei added; “As we continue to adapt and grow, expanding ECI’s services to strengthen national
exports stands as our primary objective, marking a significant leap forward in our capabilities and outreach.
This new strategic phase aims to double the growth rate of UAE exports through ECI and increase our

contribution to the non-oil GDP by 7-fold by 2031.”

The report stated that ECI’s global outreach efforts resulted in the support of UAE exporters across 17

sectors in 110 countries, amounting to a non-oil trade and investment of AED 14 billion in 2023. This success
was facilitated by approximately 21 agreements signed with government export credit agencies worldwide,
solidifying ECI’s position as a trusted partner for international trade.

Additionally, the report highlighted ECI’s commitment to supporting clients beyond credit insurance. This
commitment was demonstrated by the company’s effective handling of overdue payments, leading to the

collection of AED82 million. It showcases ECI’s significant contributions to facilitating access to financing for
UAE exporters, with over AED 1.8 billion worth of credit cover provided to financial institutions over the past

five years. It also stated that ECI secured AA- international rating by Fitch for the fifth consecutive year,
reflecting on the company’s ability to mitigate potential risks and reiterating its strong presence in global
markets.

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