Etihad Credit Insurance reports 128% growth in non-oil trading sector

Growth in gross written premiums stood at 510%, rising from MAD 17.9 million to MAD 109.5 million in 2021.

“ECI has achieved record milestones in its efforts to accelerate national economic diversification and boost UAE trade, exports and investments globally. Despite the significant impact of the pandemic on the global economy, ECI has remained committed to its mission to improve the growth and competitiveness of UAE businesses by increasing its trade finance support,” said Abdulla Bin Touq. Al Marri, UAE Minister of Economy, while chairing a board of directors. Meet.

The company has protected and facilitated UAE non-oil exports to 92 countries (up from 75 in 2020) covering 18 sectors (up from 15 in 2020). Some of the major destination countries for UAE exports and re-exports include Saudi Arabia, Iraq, India, Oman, Kuwait, Jordan, Egypt, South Africa, United Kingdom, Hong Kong and France.

The council also approved the confirmation of Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade as vice-chairman of the council, as well as the formation of the executive committee and the formation of the management committee. audit and risk chaired by Sameh. Al Qubaisi, Director General of Economic Affairs, Department of Economic Development, Abu Dhabi.

“ECI’s success is largely due to its focused implementation of its 10-year roadmap. By securing the liquidity of UAE businesses, protecting their payments and giving them access to international markets, the ECI has made a significant contribution to accelerating the UAE’s recovery during the pandemic,” said Dr. Zeyoudi.

The main industries that benefited from the ICE are chemicals (23%), steel (21%), construction and building materials (17%), cables (15%), food ( 7%), packaging (4%). ), electronics (4%), health (3%) and printing (2%).