Amid ongoing global economic, political, and trade fluctuations, export credit insurance has become a strategic necessity, enabling Saudi exporters to expand confidently into international markets. In response, the Saudi Export-Import Bank (Saudi EXIM) offers a comprehensive suite of insurance products tailored to protect exporters and financial institutions against non-payment risks - whether due to buyer default or sovereign-related events.

In 2024, the Bank witnessed a significant expansion in its insurance portfolio, with insured exports reaching a total value of USD 5.57 billion. This surge reflects the growing reliance on insurance as an enabling tool that stabilizes cash flow and promotes greater trade activity.

Saudi EXIM’s insurance products focus on mitigating the risk of non-payment stemming from commercial or political circumstances that may hinder payment from importers. This protection provides Saudi exporters with greater financial security and more predictable cash flow, empowering them to enter new and challenging markets - particularly those facing regulatory hurdles or geopolitical instability.

As part of its commitment to expanding financial inclusion, the Bank places special emphasis on supporting SMEs. Tailored insurance products have been developed specifically for this segment to help them scale globally. In 2024, SMEs accounted for nearly 40% of the Bank’s total facilities, exceeding the target of 30%.

During the year, the Bank also introduced a range of new insurance products as part of its portfolio development plan, aimed at addressing the evolving needs of exporters - especially in higher-risk markets. This was supported by the development of an advanced risk analysis platform, which leverages political and economic indicators to deliver precise market and

country assessments. These insights guide both the Bank and exporters in making informed decisions regarding export opportunities and appropriate guarantees.

The expansion in coverage was matched by geographic reach, with insured exports extending to 150 countries. The Bank further strengthened its risk management capabilities through a strategic reinsurance agreement with global leader Allianz Trade, covering supply chains in more than 50 countries. This partnership has enhanced the Bank’s ability to manage cross-border risks more effectively.

The Bank launched the Bridges Initiative (Jusoor) to empower Saudi manufacturers by streamlining the import of raw materials and equipment with greater speed and efficiency. This is achieved through tailored financing and insurance solutions. Covering imports from over 70 countries to support strategic industries such as mining, automotive, aviation, and renewable energy, in full alignment with the objectives of the National Industrial Strategy.

Through these efforts, Saudi EXIM’s insurance solutions serve as a fundamental pillar in enabling non-oil Saudi exports, boosting their global presence, and closing risk-related gaps that may limit competitiveness. These initiatives align closely with Saudi Vision 2030 objectives to increase the share of non-oil exports and diversify the national economy.