Takaful News - Global: ICIEC signs reinsurance pact with Russian agency
Source: Middle East Insurance Review | Dec 2015
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Russian Agency for Export Credit and Investment Insurance (EXIAR) have signed a reinsurance agreement aimed at expanding business opportunities.
Under the agreement, both parties will share expertise and capabilities to improve and support various transactions in a wide range of sectors. The agreement foresees the promotion of Russian capital goods and services and investments into ICIEC member countries, as well as joint potential projects between and among ICIEC member countries, with Russian participation, in third markets.
The agreement is expected to eventually become a platform for mutually beneficial cooperation in export credit and investment insurance between Russia and ICIEC member countries. It was signed by Mr Oussama Kaissi, CEO of ICIEC and Mr Alexey Tyupanov, CEO of EXIAR, on the sidelines of the Berne Union/ Prague Club Annual General Meetings in Shanghai in November.