Supporting trade and investment since 1934
30 April 2013
FOR IMMEDIATE RELEASE
Record amount of trade credit insured by Berne Union members
Members of the Berne Union – International Union of Credit & Investment Insurers – saw the value of
credit and investment insured in 2012 grow by 2.4 per cent, reaching in excess of US$ 1.8 trillion. This
matches the 2.4 per cent growth in exports for 2012 according to the United Nations Statistics
Division. Collectively, Berne Union members insured more than 10 per cent of international trade in
2012.
Of the total business volume, about US$ 1.5 trillion represented short-term (ST) export credit
insurance with credit terms up to one year, while medium and long-term (MLT) export credit insurance
for periods in excess of one-year amounted to more than US$ 180 billion. New transactions covered in
investment insurance (INV) reached a record US$ 94 billion. Claims paid in ST export credit insurance
rose again in 2012, following a drop in 2011, largely due to higher insolvency rates in Europe. Claims
paid in MLT export credit insurance stayed at the same, relatively high, but sustainable level
experienced in 2011. The combined claims paid to exporters and investors in 2012 in all lines of
business totalled US$ 4.7 billion.
Since the beginning of the global financial crisis in 2008, credit and investment insurers have paid in
excess of US$ 20 billion to their clients to compensate them for losses suffered due to defaults by
buyers or other obligors.
“The high level of trade and investment covered demonstrates the commitment of our members to
support trade, and trade is key to sustained economic recovery and growth” said Johan Schrijver,
President of the Berne Union. Peter Jones, Secretary General of the Berne Union also commented:
“The risk environment is expected to remain volatile, but despite these challenges Berne Union
members will continue to support their customers with ample insurance capacity.”
The 2012 results were announced at the Berne Union Spring meeting in New York from 22-24 April
2013 which were hosted by the Union’s North American private market members AIG, FCIA, HISCOX,
SOVEREIGN and ZURICH.
30-APR-2013
Note to editors:
About the Berne Union
The Berne Union (International Union of Credit & Investment Insurers) is the leading international association for the export credit and
investment insurance industry. It works for cooperation and stability in cross-border trade by supporting the international acceptance of
sound principles in export credits and foreign investments and by providing a forum for professional exchange among its members.
Members
The 76 members of the Berne Union, including the Berne Union Prague Club, covered over US$1.8 trillion worth of business in 2012, which
was10.40% of the world's total cross-border trade. Members are both private companies, offering worldwide risk management solutions, and
state backed export credit agencies, focusing on the support of national exports and outward investments.
Interaction
Members benefit from quality information exchange through several yearly meetings, seminars and workshops, and interactivity online.
Exchanges focus on technical aspects of international trade, as well as developing and promoting best practices.
Links
The Berne Union has well established links with other organisations that play important roles in world trade including the ICC, IMF, OECD,
World Bank, WTO and regional development banks.
See www.berneunion.org for more information.
Contact:
Mr Peter Jones
Secretary-General
Berne Union
27-29 Cursitor Street
London EC4A 1LT
United Kingdom
t +44 20 7841 1110
e pjones@berneunion.org
30-APR-2013