Page 48 - ECI PR REPORT - MAY 2025

5/28/25, 9:22 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…

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HomeBusiness and EconomicsEtihad Credit Insurance achieves AED 16.2 billion in insured turnover with a 15.7% growth in more than 100 countries across 17 strategic sectors

Etihad Credit Insurance
BUSINESS AND ECONO…
Etihad Credit Insurance Achieves AED 16.2 Billion In Insured Turnover With
A 15.7% Growth In More Than 100 Countries Across 17 Strategic Sectors
By Editor_wr Last updated May 27, 2025
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Etihad Credit Insurance (ECI), the UAE federal export credit company, has revealed a remarkable year of growth and strategic
achievement in its 2024 Annual Report, with insured turnover reaching AED 16.2 billion – reflecting a 15.7% year-on-year increase
and accounting for 2.85% of the UAE’s total non-oil exports. This was announced during a media briefing led by H.E. Raja Al
Mazrouei, Chief Executive Officer of ECI, and other senior officials from the company.
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.”

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