Page 43 - ECI PR REPORT - MAY 2025

5/28/25, 9:22 AM Latest News
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 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).

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