Abu Dhabi National Insurance Company (ADNIC), a leading regional multi-line insurance provider, and Allianz Trade, the global leader in trade credit insurance, announced yesterday that they have established a long-term strategic partnership.
This collaboration marks a major milestone in expanding access to trade credit insurance solutions for businesses across the UAE.
Through this partnership, ADNIC will expand its portfolio by offering tailored trade credit insurance solutions that protect UAE-based companies against the risk of customer payment defaults. These solutions empower businesses to trade securely, optimise working capital, and pursue growth in both local and international markets.
By leveraging Allianz Trade in Middle East’s deep expertise in risk assessment and underwriting, as well as its regional database monitoring over 40,000 businesses across key GCC industries, ADNIC will provide its clients with unparalleled market insights and real-time credit intelligence.
Trade credit insurance will be available to eligible businesses across various sectors in the UAE. it will play an important role in supporting sustainable growth and encouraging responsible credit management practices that contribute to the country's economic development.
Mr Charalampos Mylonas, CEO of ADNIC, said, “At ADNIC, we are constantly evolving our product offering to meet the changing needs of the business community. Our new trade credit insurance product will serve as a powerful tool for businesses across the UAE to mitigate risk, support growth, and enhance financial stability.”
Mr Dario Locatelli, CEO of Allianz Trade in the Middle East, added, “Our collaboration will help companies grow faster and more securely. As the world leader in trade credit insurance, we remain committed to delivering solutions that enable safe and confident trade.”
ADNIC is a composite insurance partner with long-standing expertise in providing insurance products to individuals and corporates across the Middle East and North Africa (MENA) region. Founded in the UAE in 1972, ADNIC has a wide network of branches as well as sales and service centres across the country. ADNIC also has a representative office in London, under the name ADNIC International Ltd. ADNIC is a publicly listed company on the Abu Dhabi Securities Exchange (ADX).
Allianz Trade is the global leader in trade credit insurance and a recognised specialist in the areas of surety, collections, structured trade credit and political risk. Its proprietary intelligence network is based on instant access to data of 289m corporates. Headquartered in Paris, Allianz Trade is present in over 40 countries with 5,800 employees.