Etihad Credit Insurance (ECI), a UAE-based federal export credit company, has been elected a permanent member of the Burn Union, an international organization of export credit and political risk insurers.
The company’s membership was confirmed at the annual general meeting of the Burn Union in Budapest on Thursday. This comes just three years after the establishment of ECI in 2018. The Burn Union has export0 export credit agencies as full members, one observer and three guest organizations.
The ECI was voted as a full member for cooperation and collaboration with other export credit institutions. It has participated in knowledge-sharing on reinsurance, short-term credit insurance and partnership strategy development, innovation capabilities. The Burn Union has recognized the ECI’s growth in assisting UAE trade and export companies by providing trade credit insurance and trade finance services.
ECI chief executive Massimo Falcioni said: “I am deeply moved by the expression of confidence we have received from our colleagues at the Burn Union, and thank all the export credit companies that voted for the ECI.” I am extremely grateful to the staff who have contributed so sincerely to their professionalism and efforts for the achievement and success of ECI since its inception in 2018. We are proud to be a full member of the Burn Union, a great platform for the ECI to participate in the global dialogue and to work more closely with other partners to develop insights into energy transit, trade credit insurance and financing initiatives that help us grow and develop our UAE business. Will help to increase. “
From January to September, ECI issued ED..4 billion (SG. 1.25 billion) revolving credit guarantee, which is three times more than the same period last year. This is equivalent to AED10 billion in UAE non-oil trade, of which 50% is exports.