ICIEC reports $17.8bn in insured business for 2025 as financial results improve

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) reported US$17.8 billion in business insured during 2025, an increase of 37.8% from the preceding year. The institution disclosed the figures on 19 June 2026 following approval of its annual report and audited financial statements by its Board of Governors during the Islamic Development Bank Group’s annual meetings in Baku.

ICIEC said its cumulative insured business since inception reached US$138.9 billion, comprising US$107.8 billion in trade transactions and US$31.1 billion in investments. The insurer also reported US$7.3 billion in new insurance commitments and a year-end gross exposure of US$7.6 billion.

The financial results showed corporate net results of US$40.4 million, a 62.5% improvement on 2024, according to the report. ICIEC’s Policyholders’ Fund moved from an accumulated deficit to a US$5.9 million accumulated surplus at the end of 2025. These are the institution’s reported financial results, distinct from the face value of the trade and investment transactions it insures.

ICIEC said it insured US$7.72 billion in intra-Organisation of Islamic Cooperation trade and US$1.57 billion in intra-OIC investments during the year. Sierra Leone’s accession brought its membership to 51 states.

The institution also reported that Moody’s maintained its Aa3 insurance financial strength rating and that S&P reaffirmed an AA- long-term issuer credit and financial strength rating with a stable outlook. Ratings reflect agencies’ assessments under their stated methodologies and are not guarantees against losses.

Chief executive Khalid Khalafalla described the year as one of operational growth amid a difficult global environment. ICIEC was preparing a 2026–2030 corporate strategy after completing its previous ten-year framework.

Credit and political-risk insurance can support cross-border trade by covering defined risks faced by lenders, exporters and investors. The total volume of business insured should not be mistaken for funds disbursed directly by the insurer or for new equity invested in African businesses.

Source: Islamic Corporation for the Insurance of Investment and Export Credit, 2025 annual report announcement circulated 19 June 2026.