The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has shown strong business growth in 2025.
In a statement issued in conjunction with the release of the company’s 2025 Annual Report, the Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, said that business insured reached $17.8bn in 2025, a 37.8% increase compared with 2024.
This brought cumulative business insured since inception in 1994 to $138.9bn, comprising $107.8bn in trade and $31.1bn in investment. ICIEC also recorded $7.3bn in new insurance commitments and closed 2025 with gross exposure of $7.6bn.
Headquartered in Jeddah, the Corporation also continued to support intra-OIC (Organisation of Islamic Cooperation) trade and investment, insuring $7.72bn in intra-OIC trade and $1.57 bn in intra-OIC investments during 2025.
Net results
ICIEC posted strong corporate net results reaching $40.4m, a 62.5% improvement over 2024. The Policyholders’ Fund also recorded a major turnaround, converting its accumulated deficit into an accumulated surplus of $5.9m by the end of 2025.
ICIEC maintained its strong credit standing, with Moody’s maintaining its ‘Aa3’ Insurance Financial Strength Rating and S&P reaffirming its ‘AA-’ long-term issuer credit and financial strength rating with a ‘Stable’ outlook.
In 2025, ICIEC further strengthened its membership with the accession of Sierra Leone as its 51st Member State.
The year 2025 also marked a key strategic transition for ICIEC, with the conclusion of its 2016–2025 Strategic Framework and the preparation of its new 2026–2030 Corporate Strategy, aligned with the IsDB Group’s 10-Year Strategic Framework 2026–2035.
Commenting on the company’s financial performance, ICIEC CEO Dr Khalid Khalafalla said, “2025 was a year of strong operational and financial performance for ICIEC, delivered against a challenging global backdrop. Insuring $17.8bn in business and achieving a significant improvement in financial results reflects the strength of our mandate and the continued relevance of Shariah-compliant risk mitigation solutions. As we move forward, ICIEC remains committed to de-risking trade and investment, mobilising capital, and supporting sustainable development across our Member States.”