Page 75 - ETIHAD CREDIT INSURANCE PR REPORT - OCTOBER 2024

10/31/24, 11:49 AM Latest News
guarantees and commercial credit, the agreement establishes a framework that promotes joint efforts to
boost FDIs through co-insurance and reinsurance. This agreement has the potential to improve quality of

solutions presented to partners and clients of both parties. The prospect of this bilateral cooperation includes
co-insurance and reinsurance solutions for projects, investment agreements, equity insurance, loans,

shareholders’ and non-shareholders’ assurances and various other forms of investment.

H.E. Raja Al Mazrouei, CEO of Etihad Credit Insurance, reiterated the company’s commitment to strengthen
its strategic ties, develop cooperations and exchange experiences with key international institutions and

agencies in the fields of insurance, credit and guarantees. This comes in line with the company’s belief in the
significance of efforts in boosting the resilience and sustainability of the national economy and consolidating
the UAE’s reputation in the export, investment and foreign trade sectors, in line with the national goals of

vision ‘We the UAE 2031.’ Furthermore, H.E. Al Mazrouei emphasised that the ECI’s partnership with MIGA
signifies both parties’ common interest in fostering bilateral cooperation to support FDIs and the expansion of

insurance and reinsurance activities. It fosters new opportunities for investment projects and activities and
helps in the promotion of trade flows, investment and export and re-export activities in both the regional and
global markets.

H.E. Al Mazrouei said: “This collaboration agreement with MIGA marks a significant stride in the company’s

growth trajectory, providing new opportunities for initiating joint investment projects based on the expertise
and potential of both parties. With this mutual cooperation, we aim to provide a broader spectrum of clients

with cutting-edge insurance and investment solutions, enabling them to move ahead confidently with the
development and expansion of their projects and activities and to fortify their market position. Furthermore,

the agreement stands out considering the UAE’s strong reputation as an ideal hub for global investment, with
the country being ranked second globally for FDI inflows in 2023.”

Hiroshi Matano, Executive Vice President of MIGA, stated: “The agreement with ECI showcases our
commitment to expand partnerships to offer a wide range of services to attract foreign direct investment in

emerging markets and developing countries. We hope to co-create innovative financial solutions to address
private sector needs in our member countries.”

The UAE has a unique presence in the global investment landscape, with a total of the UAE’s investments

aboard being estimated at USD 2.5 trillion as of early 2024 and the country’s FDI balance at the end of 2023
rising to nearly USD 225 billion, a 15.8 per cent increase over 2022. The company insured AED 14 billion
worth of trade and non-oil investments in total in 2023, covering 3.1 per cent of the nation's non-oil exports.

As a member of the World Bank Group, MIGA guarantees investment against non-commercial risks for

nationals of its member states, who support and invest in developing countries and emerging economies. It

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