Etihad Acclaim Allowance (ECI), the UAE Federal consign acclaim company, has active a Memorandum of Compassionate (MoU) with Markel International, a specialist insurer that handles the bartering allowance and reinsurance needs of above businesses, SMEs, professionals and sole traders through its offices beyond the UK, Europe, Canada, Latin America and Asia Pacific.
The affiliation will acquiesce ECI, a federal government endemic entity, to accomplish its authorization of acceptable UAE businesses to drive in added advance and barter action while additionally reinforcing its charge to abutment the country’s non-oil about-face strategy. Under the MoU, ECI and Markel will mutually abet to architecture and bear bespoke absolute accepted barter acclaim allowance solutions and casework to the UAE businesses, growing the non-oil consign trade.
The MoU was active by Massimo Falcioni, Chief Executive Officer of ECI, and Ewa Rose, Managing Director – Barter Credit, Political Accident and Surety, Markel All-embracing – in the attendance of chief admiral and assembly from both parties.
H.E. Engr. Saed Al Awadi, Chief Executive Officer of Dubai Consign and Development Corporation, and Board Member and Chairman of the Executive Committee at ECI, said: “ECI is architecture a absolute belvedere of partnerships in adjustment to abutment UAE businesses. These collaborations will acquiesce ECI to analyze opportunities geared appear compassionate the needs of the UAE consign community. The cardinal affiliation with Markel All-embracing will additionally actualize a able belvedere for ECI to accession UAE businesses in band with the UAE Vision 2021 agenda. The acceding reinforces our charge to account the UAE consign affiliation in adjustment to advance their all-around competitiveness.”
Massimo Falcioni, CEO, ECI, said: “We are appreciative to advertise the signing of a affiliation amid ECI and Markel International, which is accepted about the apple as a arch specialist insurer. This new accord is accepted to strengthen our continuing efforts in acknowledging the advance and development of bounded businesses actuality in the UAE, abnormally those in the fields of export, accouterment them with the all-important business accoutrement and solutions bare in authoritative them globally competitive. In addition, alive carefully with Markel All-embracing will reinforce our efforts in accomplishing the goals and objectives of the country’s non-oil about-face strategy.”
Markel All-embracing Limited is a accessory of Markel Corporation, a US-based captivation aggregation trading on the New York Stock Exchange. With a able all-around presence, the aggregation underwrites allowance and reinsurance risks through Syndicate 3000 at Lloyd’s, Markel All-embracing Allowance Aggregation Limited, Markel Allowance SE., Markel Seguradora do Brasil S.A. and Markel Resseguradora do Brasil S.A. The aggregation operates through bristles capacity and maintains offices beyond 17 countries.
Ewa Rose, said: “The UAE is currently the better bazaar for barter acclaim allowance in the MENA region. This has additionally been the cardinal area area a majority of the acclaim insurers accept their abject and use it as a hub to abutment businesses in the region. The UAE offers abiding bread-and-er and political environment, affluence of accomplishing business, relatively
healthy authoritative and acknowledged ambiance and bounded positioning, authoritative it a trading hub for the arena with admission to affection talent.”
“We are attractive advanced to alive in aing affiliation with ECI. The newly-signed MoU reflects our alacrity to attribute our attendance in the Middle East region, decidedly in the UAE – complementing our continuing efforts to aggrandize our geographic reach,“ Rose added.
The all-around acclaim allowance bazaar is admired at $7.75 billion in 2017 and is accepted to ability $8.56 billion by the end of 2023, growing at a CAGR of 2 per cent amid 2017 and 2023. It is accepted to attestant amplification in the a approaching brought by an added acquaintance of and focus on barter risks on credit.
About Etihad Acclaim Insurance
Etihad Acclaim Allowance (PJSC) was accustomed by UAE Federal Government and its founders, the governments of Abu Dhabi, Dubai, Ras Al Khaimah, Fujairah and Ajman. The aggregation started its operations in February 2018. ECI plays a agitator role in acknowledging the UAE’s non-oil exports, trade, investments and cardinal sectors development, in band with UAE Vision 2021 agenda.
It is tasked to advance and sustain civic bread-and-er about-face as able-bodied as abutment the consign and re-export of UAE goods, works, services, and the adopted investments of the UAE businesses through a ambit of consign credit, costs and advance allowance products.
To accommodate UAE businesses with solutions that accommodated their advance objectives locally and internationally, ECI builds a absolute belvedere of cardinal partnerships beyond government, insurers, re-insurers, brokers, banks and lenders, bounded and all-embracing Consign Acclaim Agencies, governments and barter advance agencies in accession to apple organisations for bread-and-er development.
For media inquiries, amuse contact:
Abeer Al MutawaDirector Marketing & CommunicationsEtihad Acclaim Allowance 971 4 [email protected]
Angeline RiveraBusiness Unit HeadNew Perspective Media 971 4 [email protected]
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