Saudi EXIM pens reinsurance agreements with AIG, Allianz Trade and Bpifrance

By Ryan Hewlett

Feb 27 - (The Insurer) - The Saudi Export-Import Bank has signed reinsurance agreements with AIG, Allianz Trade and Bpifrance to strengthen export confidence and mitigate risk.

These agreements form part of Saudi EXIM's so-called 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 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 industrial and technological materials from more than 70 countries, supporting the Saudi industrial sector under competitive credit terms.

Saad bin Abdulaziz Al-Khalb, CEO of Saudi EXIM, signed the agreements during an official visit to the UK and France, where he led the bank's delegation as part of its strategic efforts to expand global partnerships, enhance trade confidence and mitigate export risks.

The Saudi EXIM CEO emphasised the bank's dedication to building strategic alliances with global insurers, reinforcing the competitiveness of Saudi exports and maximizing their economic impact on the national GDP.