The Ministry of Trade, Industry and Energy has announced that the government would inject a record amount of KRW255tn ($189.4bn) in trade insurance this year to support exports.
China Export & Credit Insurance Corporation's (SINOSURE) underwriting earnings are likely to remain marginal in the long term, says Fitch Ratings.
UAE state-backed export credit agency Etihad Credit Insurance (ECI) is expected to turn profitable in the next two to three years as its revenue grows faster than its expense base following its initial start-up phase, according to Fitch Ratings.
China Export & Credit Insurance Corporation (Sinosure), the country's only policy-oriented export credit insurer, saw steady business growth in 2023, the company has announced.
The profitability of Jeddah-headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) remained resilient in 2022, with a combined ratio of 37.3% and net income of 8.2m in Islamic dinars ($12.7m), benefitting from enhanced business coverage, reduced risk and business/client concentrations, efficiency gains and substantial investment income, notes Moody's Investor Services (Moody's).
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a multilateral credit and political risk insurer headquartered in Jeddah, has unveiled its Climate Change Policy and Environmental, Social, and Governance (ESG) Framework.
Italian export credit agency SACE is preparing to open an office in Riyadh to be closer to companies promoting "Made in Italy" in the region.
China Export & Credit Insurance Corporation (Sinosure), a state-owned policy-oriented insurance company, scaled up backing for Chinese foreign trade in 2022, said a report published by the Development Research Centre of the State Council.
A considerable number of small and medium enterprises overlook the importance of insurance coverage. As many as 50% SMEs operating in the UAE are inadequately insured, according to Mr Mustafa O Vazayil, managing director of the insurance broking company, Gargash Insurance.
The National Financial Regulatory Administration (NFRA) has issued a directive, aiming to improve governance at China Export and Credit Insurance Corporation (Sinosure) at the local level.