ICIEC and CAGEX Renew Reinsurance Treaty to Accelerate Trade and Investment Flows

Strategic Insights -

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has renewed a reinsurance treaty arrangement with the Compagnie Algérienne d'Assurance et de Garantie des Exportations (CAGEX) for the 2025 underwriting year. This agreement aims to deepen cooperation in credit and investment insurance, accelerating trade and investment flows across ICIEC member countries. The partnership between ICIEC and CAGEX dates back to 2008, with the two organizations supporting insured business valued at approximately USD 2.967 billion through quota-share participation in both export and domestic credit insurance programs.

Key Takeaways:

  • ICIEC and CAGEX have renewed their reinsurance treaty arrangement for the 2025 underwriting year, aiming to deepen cooperation in credit and investment insurance.
  • The partnership between ICIEC and CAGEX dates back to 2008, with the two organizations supporting insured business valued at approximately USD 2.967 billion through quota-share participation in both export and domestic credit insurance programs.
  • The agreement was signed during the IsDB Group Annual Meetings 2025 in Algiers, with the aim of strengthening economic relations between OIC Member States and promoting intra-OIC trade and investment.
  • ICIEC has maintained an "Aa3" insurance financial strength credit rating (IFSR) from Moody's for 17 consecutive years, positioning the Corporation among the leaders in the Credit and Political Risk Insurance (CPRI) Industry.
  • ICIEC's cumulative insured trade and investment value has reached over USD 121 billion since inception, supporting key sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture.

Statistics:

  • USD 2.967 billion: Total value of insured business supported by ICIEC and CAGEX through quota-share participation in both export and domestic credit insurance programs since 2008.
  • 17 years: ICIEC's consecutive years maintaining an "Aa3" insurance financial strength credit rating (IFSR) from Moody's.
  • 2025: Underwriting year for which ICIEC and CAGEX have renewed their reinsurance treaty arrangement.
  • USD 121 billion: ICIEC's cumulative insured trade and investment value since inception.

Sources:

  • [Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Press Release dated May 23]