Page 89 - ETIHAD CREDIT INSURANCE PR REPORT - SEPTEMBER 2024

9/17/24, 10:28 AM Etihad Credit Insurance sees $381.2 million in credit coverage in Abu Dhabi in first eight months of 2024
Etihad Credit Insurance sees $381.2 million in credit coverage in Abu Dhabi in first eight months of 2024
ECI achieves 8 per cent increase in credit coverage and 24 per cent growth in insurance
document issuance

Financial services industry leads the list of sectors availing ECI's credit support
Etihad Credit Insurance (ECI), the UAE’s federal export credit company, recorded an 8 per cent
annual increase in its credit coverage within the emirate of Abu Dhabi, reaching a total of AED1.4
billion ($381.2 million) in the first eight months of 2024.
The financial services industry continues to lead in securing ECI’s credit support in Abu Dhabi,
accounting for 50.6 per cent of the total coverage. This was followed by the F&B sector, metals,
paper manufacturing, packaging, and electronics and cables industries, accounting for 14 per cent,
10.5 per cent, 10.4 per cent, 6.6 per cent, and 2.6 per cent, respectively. During this period, ECI also
witnessed a 24 per cent rise in the issuance of insurance documents within the emirate.
Total coverage surges
In this year alone, the company has attained total credit coverage worth AED10.6 billion in the
UAE, expanding at a growth rate of 10 per cent annually, with a 16 per cent increase in insurance
document issuance. Additionally, the financial services sector topped the list of industries benefiting
from ECI’s nationwide coverage, accounting for 21.36 per cent, followed by logistics, reinsurance,
information and communications technology (ICT), chemicals, and food and beverages industries,
constituting 14.63 per cent, 10.65 per cent, 10.01 per cent, 7.78 per cent, and 7.45 per cent,
respectively.
“Despite the challenges in some global markets, the foreign trade of the emirate of Abu Dhabi has
succeeded in continuing the growth, leveraging the momentum in the country’s non-oil foreign trade
of both goods and services. As a result, in 2023, the Abu Dhabi foreign trade sector achieved an
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