ICIEC & CAGEX renew reinsurance alliance to further OIC trade growth

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has renewed its reinsurance treaty arrangement with the Compagnie Algérienne d’Assurance et de Garantie des Exportations (CAGEX) for the 2025 underwriting year.

ICIEC is a Shariah-based multilateral insurer and Islamic Development Bank (IsDB) Group member.

The signing of this agreement aims at deepening cooperation in credit and investment insurance to accelerate trade and investment flows across ICIEC member countries.

The agreement, which was signed by Dr. Khalid Khalafalla, Chief Executive Officer (CEO) of ICIEC, and Zouhair Laiche, CEO of CAGEX, took place on the sidelines of the IsDB Group Annual Meetings 2025 in Algiers.

Laiche stated, “With this renewal, ICIEC reaffirms its commitment to empowering national ECAs and fostering sustainable trade and investment flows among OIC member states.”

Dr. Khalafalla commented, “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.”

Laiche added, “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.”

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