Etihad Credit Insurance (ECI), the UAE’s federal export credit agency, announced a 15.7% rise in its insured turnover, reaching AED 16.2 billion in 2024. Additionally, the company recorded a gross exposure of AED 11 billion, marking a 14.58% increase compared to the previous year.
The growth was largely attributed to a diverse portfolio, with over 60% of beneficiaries being small and medium-sized enterprises (SMEs). ECI also secured an AA- international rating from Fitch for the sixth consecutive year, underscoring its robust risk management and strong global market presence.
These figures highlight ECI’s enhanced role in supporting and protecting UAE-based exporters and investors through strategic credit solutions across more than 100 countries and 17 key sectors.
In 2024, the UAE’s non-oil foreign trade reached AED 3 trillion, a 14.6% increase over the previous year, marking a significant milestone in the nation’s economic diversification efforts.
Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI’s Board of Directors, stated that ECI has been instrumental in advancing the UAE’s vision of a resilient, innovative, and knowledge-based economy. By facilitating the expansion of UAE companies, enhancing market access, and strengthening economic partnerships through tailored credit insurance solutions, ECI contributes significantly to the nation’s non-oil export growth and global economic standing.
Furthermore, ECI extended credit guarantees to support major infrastructure and energy projects in African markets, including Angola and Senegal, aligning with the UAE’s strategic initiatives to promote sustainable global partnerships and inclusive economic development.
Raja Al Mazrouei, CEO of ECI, highlighted the launch of ‘Xport Xponential’ in 2024 as a key milestone. This initiative aims to further empower UAE exporters by providing innovative solutions and expanding their global reach.
