ICIC – The Israeli Credit Insurance Company Is the leading credit insurer in Israel.
ICIC has been leading the field since 1957 and today insures sales totaling over $17 billion annually, in both domestic and foreign trade transactions.
ICIC is an equal partnership company, jointly owned by EULER HERMES SA – the largest credit insurer in the world – a company of Allianz, and HAREL INSURANCE INVESTMENTS AND FINANCES LTD – the largest insurance and finance company in Israel. ICIC insures short and medium term credit, across 140 countries and the company’s 500 policyholders include many of the leading companies in Israel and their subsidiaries around the world. ICIC operates with Shareholders commitment & support and using Euler Hermes systems and connections, is able to provide quick and customized solutions to transactions all over the world.
ICIC offers varied and advanced credit insurance services and programs, short and midterm customized solutions, which enable obtaining finance from banks and financial institutions, in addition to guarantees for both domestic and export purposes. Our lines of bonds and guarantees written contain Bid bonds, Advance Payment bonds, Performance bonds and Custom bonds. ICIC works with leading reinsurers around the world and has an international A2 rating by Moody’s with a stable forecast (This is the highest international rating assigned to an Israeli company except Banks) and local rating Aa2 with a stable forecast.
ICIC was established as a government owned company in 1957, privatized in 2002, and today is owned jointly by EULER HERMES SA (50%, Aa3 stable) and Harel Insurance Investments and Financial Services Ltd .(50%)
Highlights for 2019 / 2020
ICIC maintains its leading market position and exhibits strong performance, while continuing to look ahead, and integrating new lines of business products customized for its policyholders: mid-term credit insurance, surety bonds, etc. ICIC benefits from a very well diversified credit insurance portfolio, this alongside a strong distribution network, underwriting flexibility and significant strength from its integration with Euler Hermes, contributes to the company’s long term stability across challenging conditions and changing environments. ICIC is a technological leader, with an advanced user-friendly APP for mobile application.
Board of Directors
Mr. David Blumberg – Chairman
Mrs. Hagit Chitayat-Levin – CEO
Ramat Gan, 5252276
Phone +972-3-796 2401
Mrs. Hagit Chitayat Levin