The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) & Compagnie Algérienne d’Assurance et de Garantie des Exportations (CAGEX) Renew Reinsurance Alliance to Fuel Organisation of Islamic Cooperation (OIC) Trade Growth
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, today announced the renewal of a reinsurance treaty arrangement with the Compagnie Algérienne d’Assurance et de Garantie des Exportations (CAGEX) for the 2025 underwriting year. The signing ceremony was held on the sidelines of the IsDB Group Annual Meetings 2025 in Algiers. The agreement was signed by Dr. Khalid Khalafalla, CEO of ICIEC, and Mr. Zouhair Laiche, CEO of CAGEX, with the aim of deepening cooperation in credit and investment insurance to accelerate trade and investment flows across ICIEC member countries.
“We are proud to renew our longstanding partnership with CAGEX here at the IsDB Group Annual Meetings. This agreement further highlights our commitment to serving as a strategic reinsurance partner for national ECAs. It also supports product development and technical cooperation and reaffirms our dedication to empowering ECAs as key drivers of sustainable trade and investment across OIC member states.” said Dr. Khalid Khalafalla, CEO of ICIEC.
Quotation from Mr. Zouhair Laiche, CEO of CAGEX
ICIEC has partnered with CAGEX since 2008, cumulatively supporting insured business valued at approximately USD 2.967 billion through quota-share participation in both export and domestic credit insurance programs.
This agreement seeks to further extend reinsurance capacity to CAGEX, support product development and capacity building, facilitate technical exchanges, and promote best practices in risk management. With this renewal, ICIEC reaffirms its commitment to empowering national ECAs and fostering sustainable trade and investment flows among OIC member states.
Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
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Email: ICIEC-Communication@isdb.org
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About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
ICIEC commenced operations in 1994 with a mission to strengthen economic relations between OIC Member States and promote intra-OIC trade and investment through credit and investment insurance. The Corporation is the World’s only Islamic multilateral insurer in the world and has been at the forefront of delivering a comprehensive suite of risk mitigation tools to support cross-border trade and investments for its 50 Member States. For the 17th consecutive year, ICIEC maintained an “Aa3” insurance financial strength credit rating (IFSR) from Moody’s, positioning the Corporation among the leaders in the Credit and Political Risk Insurance (CPRI) Industry. In addition, ICIEC was assigned a first-time “AA-” long-term Issuer Credit Rating with a Stable Outlook by S&P. ICIEC’s resilience is anchored in its prudent underwriting practices, robust reinsurance arrangements, and sound risk management framework. Since inception, ICIEC has cumulatively insured over USD 121 billion in trade and investment, supporting key sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture.
For more information, visit: http://ICIEC.IsDB.org
