Atradius Dutch State Business Vows Sustained Cooperation with ICIEC

(Thomson Reuters ZAWYA, Jeddah, 15 April 2015) The Managing Director of Atradius Dutch State Business paid a business visit to the Islamic Corporation for the Insurance of Investment and Export Credit ( ICIEC ) in Jeddah, Saudi Arabia on April 13, 2015. During the visit, the two institutions exchanged ideas on enhancing the cooperation between them in order to support business between the Netherlands and ICIEC 's member countries. Atradius and ICIEC have covered joint projects in the last two years for over US$2 billion, where ICIEC has reinsured Atradius for over US$500 million. [Atradius DSB apparently needs the said reinsurance on Egypt, and therefore is using this contract with ICIEC. This has become even more important as last February Atradius DSB also insured two Dutch dredging companies for their activities in expansion of the Suez canal with an additional maximum insured amount of about € 512 million.]