Page 40 - ECI PR REPORT - MAY 2025

5/28/25, 9:21 AM Etihad Credit Insurance achieves AED 16.2 billion in insured turnover with a 15.7% growth in more than 100 countries across 17 str…
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

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