Page 35 - ECI PR REPORT - MAY 2025

5/28/25, 9:21 AM Etihad Credit Insurance achieves AED 16.2bln in insured turnover

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

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