Export credit agencies of UAE, India join hands to enhance trade, economic cooperation 

الإمارات والهند تعززان العلاقات التجارية وفرص ائتمان الصادرات المشتركة

Alliance to create prospects for mutual strategic projects between the UAE and India Agreement to give a boost to companies and exporters between the two countries, enhancing their economic ties The partnership provides a platform to identify new business opportunities and develop new partnerships in the UAE Etihad Credit Insurance (ECI), the UAE Federal export credit company, has partnered with ECGC Limited (ECGC), the premier export credit agency of India, to explore and bolster the trade and economic cooperation between the UAE and India. In a Memorandum of Understanding (MoU)…

SMEs in UAE receive more than AED 420 million trade credit

الاتحاد لائتمان الصادرات تؤمّن معاملات تجارية لشركات صغيرة ومتوسطة

 support in first 11 months of 2020 from Etihad Credit Insurance, translating into AED 1 billion secured turnover  Guarantees issued by ECI helped protect liquidity of SMEs and reduce their cost of funds amidst this challenging economic cycle These facilities allow SMEs to request their preferred bank to discount invoices at preferential rate ECI is the first government export credit company in Middle East and Africa to offer UAE SMEs an online trade credit solution to secure trade and export to more than 50 countries Etihad Credit Insurance (ECI), the…

UAE, UK join hands to boost trade ties, export credit opportunities

المشرخ: تعديلات قانون الشركات تواكب مستجدات سوق الاستثمار العالمي

Etihad Credit Insurance (ECI), the UAE Federal export credit company and the UK Export Finance (UKEF), the UK’s export credit agency, have signed a reinsurance agreement to enhance the competitiveness, scale and scope of both countries’ export industry through strategic partnership and cooperation. The agreement, which was signed by Massimo Falcioni, CEO of ECI, and Louis Taylor, CEO of UKEF, aims to provide a robust turnkey platform, which the two parties can utilise to draw new business opportunities and identify areas for future collaboration to foster a greater trade alliance…

JAFZA-BASED COMPANIES CAN TRADE  WITH CONFIDENCE LEVERAGING ETIHAD CREDIT INSURANCE SOLUTIONS

جافزا توفر لشركاتها أفضل حلول الحماية والتأمين التجاري

The leading free zone, Jafza and the UAE’s federal export credit company, Etihad Credit Insurance organised a joint webinar to showcase innovative trade credit and export financing solutions Dubai, United Arab Emirates, 22 November 2020: Jebel Ali Free Zone (Jafza), DP World, UAE Region’s premier business and logistics hub showcased to its customers the trade payments protection solutions it has rolled out in partnership with Etihad Credit Insurance (ECI), the UAE Federal export credit company on 19th of November 2020. During a well-attended webinar titled, “Etihad Credit Insurance Collaboration: Trade…

His Excellency Dr. Thani bin Ahmed Al Zeyoudi praises ECI’s high score of AA  rating with stable outlook from Fitch Ratings as vital to boosting the global competitive edge of UAE businesses

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade and Deputy Chairman of the Board of Directors of ECI, praised the efforts of Etihad Credit Insurance (ECI), the UAE Federal export credit company after it has been assigned with Insurance Financial Strength (IFS) Rating and an Issuer Default Rating (IDR) of AA- (Very Strong) with Stable Outlook from Fitch Ratings, for the second year. His Excellency said that the high rating received by ECI reflects the Federal export credit company’s unyielding commitment to help…

UAE’s new life insurance regulations to increase policyholder number and help grow the Dh9.5 billion sector

UAE’s new life insurance regulations

Although the new life and family insurance regulations that came into effect on October 15, 2020, are more transparent and holds insurance brokers accountable, a drastic reduction in brokerage commission might force many life insurance agents out of work Gross total written life, group life, individual life and group credit life insurance premium in the UAE reached Dh9.51 billion in 2018; Gross written premium in the individual life insurance in the UAE crossed Dh7.52 billion in 2018; New regulations cut life insurance commission drastically, that will make selling life insurance…

UAE and Uzbekistan to enhance economic cooperation

UAE and Uzbekistan to enhance economic cooperation,

 boost joint export credit opportunities The export credit agencies (ECAs) of the UAE and Uzbekistan have agreed to bolster and reinforce the trade and economic alliance between the two countries by exploring and boosting opportunities in the export of goods and services. This follows UAE and Uzbekistan’s last month announcement of their expanded partnership to include economy, manufacturing, and business incubators through implementing 147 initiatives developed by the UAE Government in Uzbekistan. The Memorandum of Understanding (MoU) between Etihad Credit Insurance (ECI), the UAE Federal export credit company, and Uzbekistan…

Al Zeyoudi visits Etihad Credit Insurance office

Dubai, UAE, October 25, 2020: His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade – following his appointment as new Deputy Chairman of the Board of Directors of Etihad Credit Insurance (ECI) – visited ECI’s branch in Dubai. During the visit, H.E. congratulated the ECI management for the achievements recorded by the multi-awarded locally and internationally fast-growing Federal government company, and discussed its strategic role in boosting the competitiveness of the country’s businesses, in line with UAE’s goal to accelerate and sustain national diversification.…

Best’s Special Report: COVID-19 Adds to Challenges for Bahrain’s Fragmented Insurance Market

Best’s Special Report: COVID-19 Adds to Challenges for Bahrain’s Fragmented Insurance Market

LONDON–(BUSINESS WIRE/AETOSWire)– COVID-19-driven financial market volatility is expected to negatively impact solvency levels of Bahraini insurers this year, according to a new AM Best special report, adding to the challenges faced by the kingdom’s (re)insurance sector — the smallest among the Gulf Cooperation Council (GCC) countries. The Best’s Special Report, “COVID-19 Adds to Challenges for Bahrain’s Fragmented Insurance Market,” notes the Bahraini (re)insurance market is very competitive, with a large number of companies vying for a limited amount of premium. The report explains Bahraini insurers typically take more asset risk than their peers…

ECI secures AED4 billion of non-oil trade in H1 2020  to accelerate UAE exporters’ recovery, ensure business continuity and competitiveness  

ECI secures AED4 billion of non-oil trade in H1 2020

ECI provides over 1,400 revolving credit guarantees for a total exposure amount of AED1.2 billion, which is equivalent to approximately AED 4 billion guaranteed payments for non-oil trade to more than 70 countries from January to June 2020 The top beneficiaries, sectors-wise, are cable, steel, petrochemicals, healthcare, automotive, building materials and food 55% of the total revolving credit limits were issued to large private exporters and 17% to SMEs, while the remaining 38% were issued in favor of UAE Government companies To further support exports, ECI increases payment protections, relaxes…