ECI forms partnership with Markel

Etihad Credit Insurance (ECI), the UAE Federal export credit company, yesterday signed a Memorandum of Understanding (MoU) with Markel International, a specialist insurer.

Markel handles reinsurance needs of major businesses, small and medium enterprises (SMEs), professionals and sole traders through its offices across the UK, Europe, Canada, Latin America and Asia Pacific.

The partnership will allow ECI — a federal government owned entity — to fulfil its mandate of assisting UAE businesses to drive in more growth and trade activity, while also reinforcing its commitment to support the country’s nonoil diversification strategy. Under the MoU, ECI and Markel will cooperate to design and deliver comprehensive conventional trade credit insurance solutions and services to the UAE businesses.

The MoU was signed by Massimo Falcioni, chief executive of ECI, and Ewa Rose, managing director, Trade Credit, Political Risk and Surety, Markel International.