ICIEC & CAGEX Renew Reinsurance Alliance to Fuel Organisation of Islamic Cooperation (OIC) Trade Growth

ALGIERS, Algeria, May 23, 2025/ — 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.