Saudi EXIM Signs Three Reinsurance Agreements with Leading Global Insurers to Strengthen Export Confidence, Mitigate Risks

Riyadh, February 26, 2025, SPA -- The Saudi Export-Import Bank (Saudi EXIM) has signed three reinsurance agreements with Allianz Trade, Bpifrance, and American International Group (AIG).
Saudi EXIM CEO Eng. Saad Al-Khalb signed the agreements during an official visit to the United Kingdom and France, where he led the bank’s delegation. This is part of its strategic efforts to expand global partnerships, enhance trade confidence, mitigate export risks, and reinforce the resilience and sustainability of Saudi supply chains.
According to a Saudi EXIM news release, these agreements mark a significant milestone in Saudi EXIM’s Bridges Initiative, which aims to bolster trade finance and credit insurance solutions. Through this initiative, the bank is establishing a series of reinsurance agreements with leading export credit agencies and private insurers to ensure a secure and sustainable flow of essential raw materials and capital goods. The initiative also enhances global supply chain resilience and facilitates access to advanced industrial and technological materials from over 70 countries, supporting the Saudi industrial sector under competitive credit terms.
Al-Khalb stated: “These agreements reflect Saudi EXIM’s commitment to creating a sustainable export ecosystem that enhances confidence and security for Saudi exporters. By providing and developing tailored credit insurance solutions, we empower local exporters and strengthen supply chain financing for the Kingdom’s industrial sector.”
He further emphasized the bank’s dedication to forging strategic alliances with global insurers, reinforcing the competitiveness of Saudi exports and maximizing their economic impact on the national GDP. These efforts align with Vision 2030’s ambitions to build a thriving and sustainable economy by enabling Saudi exporters to expand confidently into international markets.
As an institution under the National Development Fund, Saudi EXIM plays a pivotal role in diversifying Saudi Arabia’s economic base by strengthening export financing and risk mitigation mechanisms. By bridging financing gaps and reducing export risks, the bank continues to drive the growth and global reach of Saudi non-oil exports in alignment with Vision 2030.
-- SPA