We are pleased to bring you the Berne Union Yearbook 2016. The report is available to download hereas an iPhone/iPad app  and as a printed hard copy.

Introduction

  • The Berne Union: Who’s Who 2016
    Jonathan Bell

    The Berne Union: Who’s Who 2016...

  • 2016: a leap-year, year of change and year of growth for the Berne Union
    Topi Vesteri

    Topi Vesteri, Berne Union president, and deputy CEO, and group chief credit officer of Finnvera, reveals how the Berne Union continues to support a growing amount of global trade, and reports on the importance of the formal merger wi...

  • A new Berne Union
    Kai Preugschat

    As of May 2016, members of the Berne Union and Prague Club voted to fully and formally integrate, creating a new global association for export credit and investment insurance, under the single Berne Union banner....

  • A strengthened Prague Club
    Chris Chapman

    Did you hear the story about the Bulgarian, Botswanan and Belarussian who entered a restaurant in Muscat, Oman? No this isn’t the beginning of a joke, or a James Bond movie plot. Instead it is a scenario typical of a Prague Club meeting....

Data and statistics

Expert analysis

  • The OECD Regulatory Framework and the benefits of international cooperation between the ECAs
    Paola Valerio

    The OECD Regulatory Framework on Export Credits has ensured fair competition for several decades and it is often quoted as an example of successful international cooperation. The current challenge is the attempt to replicate the model...

  • Compliance: A priority for ECAs
    Lucy Wylde

    Compliance risk management should be a priority for any export credit agency. Lucy Wylde outlines how the UK’s export credit agency is taking steps to further strengthen the assurance provided around compliance risk....

  • The cost of emerging from the perfect storm
    Daniel Schmand

    If you were writing a drama about the financial system, then you could not have asked for more material over the past few years. A major and potentially catastrophic financial crisis, the after-shocks of which are still with us, the r...

  • Reinsurance: An ECA point of view
    Adi Gross

    For many years the linkage between export credit agencies (ECAs) to the reinsurance market was related only to their reinsurance treaties or special arrangements under their short-term credit insurance business (STC)....

  • Competition, the ECAs and the private market
    Charles Berry

    Most ECAs in the developed world do not compete with the private sector for ‘marketable’ risks; but when it comes to ‘non marketable’ risks, life is a lot more complicated....

  • CIRR: Analysing its contemporary importance
    Henri d'Ambrieres

    Minimum fixed interest rates are as old as the OECD Arrangement on officially supported export credits. Then the system was finetuned in 1983 and these fixed rates were called CIRR (commercial interest rate of reference). Some ECAs of...

  • The era of regulation – part two
    Ralph Lerch

    There is little doubt about the stabilising function of Export Credit Agency-backed export finance for exports during crisis times as the post-2008 renaissance illustrates. Since then we have been living in uncertain times with politi...

  • Funding products and guarantees: The Credendo experience
    Paul Becue

    In the last few years, Delcredere | Ducroire, the parent company of Credendo Group, has launched various initiatives to support the financing of Belgian export operations....

  • The ICC & export finance: An update on key developments
    Eric De Jonge

    A year after the first meeting of the ICC Export Finance Committee in Barcelona it is a good time to look back at what we had in mind starting this initiative and where we stand now....

  • The economist’s view: A world caught in tradelock
    Mahamoud Islam

    Global trade was high on the agenda of the G20 meeting in Hangzhou, China – and for a good reason, too....

  • The oil price hardly matters for Russian country risk
    John  Lorié

    The Russian economy is in a recession. Russia’s GDP contracted by 3.7% in 2015 and is forecast to contract again this year. With oil and gas accounting for 70% of Russian exports, the recent oil price decline is one reason behind the ...

  • Political risk and trade credit policy wordings, and harmonisation in the context of the Insurance Act 2015
    Joe Blenkinsopp

    Political risk and trade credit insurance policies have become one of the key elements that can facilitate the occurrence of foreign direct investment and/or international and/or domestic trade....

  • UK Insurance Act 2015: disclosure requirements and implications
    Carol Searle

    12 August 2016 has come and gone and so the long anticipated changes to English insurance law are now in force and suddenly very relevant to our industry. The Insurance Act 2015 (the act), unless contracted out of by the parties, appl...

  • OPIC: Political risk insurance claims and coverage for political violence – A necessary instrument for investors and NGOs to mitigate investment risk
    Tracey Webb

    The Overseas Private Investment Corporation, (OPIC) is a long-time Berne Union member that mobilizes private capital to help address critical development challenges, and in doing so, advances US foreign policy objectives....

  • Political risk and political violence in South-East Asia
    Mark Wong

    Political volatility and political violence have increasingly provided cause for concern in South-East Asia over the course of 2016. Concerns include an uptick in domestic protests in response to the prolonged scandal involving the Ma...

  • Central Asia: Transition-in-process
    Norm Kimber

    Twenty-five years ago the five nations of Central Asia (CA) – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan – emerged from the shadows of Soviet central control to embark on a transitional process expected to result ...

  • Latin America: The (incomplete) turn to the right
    Keith Martin

    The past year has seen a remarkable reversal of fortunes for the leftist regimes throughout South America. With the exception of Rafael Correa in Ecuador, all the others have experienced defeats....

  • Key political risks in the Middle East and North Africa
    IHS Economics and Country Risk

    President Abdel-Fattah al-Sisi faces a range of challenges including reducing Egypt's dependency on Gulf aid, cutting government spending through subsidy reform, restoring investor confidence despite a growing insurgency, quelling rec...

  • The changing dynamics of risk in sub-Saharan Africa
    Michael Creighton

    Recent years have seen an enormous amount of optimism towards Africa, both internationally and within Africa. Ex-President of the African Development Bank, Donald Kaberuka, has made reference to Africa’s Lions joining Asia’s Tigers...

  • Demand for export credit and political risk insurance
    Prof. Dr. Andreas  Klasen

    Doing business with and in other countries is vital for the growth of companies of all sizes and sectors. But in addition to business opportunities for internationally active companies through trade and foreign direct investment, expo...

  • 2016: The tipping point
    William Clark

    The 2015 Berne Union statistics for the trade credit insurance market shows an interesting trend over 2014 and perhaps one worthy of note to us all. The numbers suggest that our industry has reached an inflection point during 2015 whe...

  • Digitalisation: One aspect of the future of short term credit insurance
    Olaf Lipinski

    The impact of digitalisation is widely discussed in all lines of insurance. What is the impact for credit insurance?...

  • The challenge of the trade finance funding gap
    Marc Auboin

    The availability of trade finance is essential for a healthy and well-functioning trading system. Up to 80% of global trade is supported by some sort of financing or credit insurance....

  • Small business is big business for US Exim Bank
    James  Burrows

    In today’s economy, access to global markets is essential for small- and medium-size enterprises. Businesses are increasingly spreading their risks across regions and unlocking flexibility to capture demand as economic conditions shift....

  • Small business support: AOFI’s support to the development of SMEs, entrepreneurship and competitiveness in the Republic of Serbia
    Dejan Vukotić

    AOFI is the official export credit agency of the Republic of Serbia established for the purpose of export promotion and development of foreign economic relations. Our aim is to strategically improve business conditions for the Serbian...

  • The opportunities and challenges of Iran's post-sanctions era
    Michael Sobl

    Iran suffered massively from the economic sanctions imposed by the United States and the European Union. The Iranian oil and gas industry was especially badly impacted, with oil revenues collapsing from approximately $118 billion doll...

  • The outlook for the Iranian market
    Arash Shahraini

    Eight months after the implementation of the Joint Comprehensive Plan of Action (JCPOA) on 16 January 2016, Iran’s oil sector has been able to regain access to some of its markets in Asia and Europe. According to the official reports,...

  • Trade and export finance in Brazil: Outlook and challenges
    Marcelo Franco

    The last two years have been a time of important shifts for Brazilian exporters. After a decade of almost uninterrupted rising commodity export earnings, Brazilian basic materials suppliers saw their sales overseas diminishing conside...

  • BECI: Business opportunities, challenges and change
    Cowell Habana

    BECI has over 19 years as an export credit agency providing credit insurance (both export and domestic) to the Botswana business community. Although BECI has been in business for this long, it is still struggling with low penetration ...

  • PICC: Our three measures to survive and compete against a dominant player
    Zhongzhu Chen

    As one of the world’s largest and fastest developing countries, China still heavily relies on the engine of exports in driving its economic growth....

  • Changing region, changing business
    Karim Nasrallah

    Business is changing as rapidly as the MENA region is transforming. The evolution of risk in the MENA region, to a more risk-averse, diligent approach, is due to the various events that have unfolded regionally and globally....

  • Transfer of the state guarantees from Coface to Bpifrance
    Maëlia Dufour

    In July 2015, the French government decided to transfer Coface State guarantees’ activities to Bpifrance; the decision was approved in December 2015 by the French parliament....

  • NEXI’s transformation to a stock company and its future
    Kazuhiko Bando

    During the 2015 ordinary session of the National Diet of Japan, the Act for Partial Revision of the Trade and Investment Insurance Act has been enacted....

  • Exploring new opportunities in the energy sector: Key considerations to underwriting successful projects
    Benjamin Mugisha

    The energy sector represents a bold new frontier for export credit agencies (ECAs). Increased involvement in this sector makes good business sense....

  • Walking a tight rope
    Geetha Muralidhar

    Export credit agencies offering only ‘pure covers’ i.e. only credit insurance, have been instrumental in promoting international trade since the dawn of the century....

  • Financing gaps, mobilisation and the importance of enhanced cooperation between development financiers and Berne Union members
    Paul Mudde

    The needs for infrastructure in developing countries are enormous. There is a huge gap between these needs and the financing that is available from government’s own resources and funds from Development Finance Institutions (DFIs)....

  • Digital trade: Wish, vision or reality? The blockchain euphoria!
    Urs Kern

    The latest studies and publications are now talking about the digital revolution in foreign trade. In an age where payment transactions, cash management and treasury are largely processed digitally, foreign trade processing is still p...

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