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12.09.2023

The current industry report from the Berner Union (BU) provides data on the export credit business of all BU members. These show that all business areas recovered in 2022. The volume of new business in medium and long-term export credit insurance has almost returned to pre-pandemic levels.

Export credit and investment insurance industry data and trends

 

Once a year, Berne Union (BU) publishes a report on the export credit and investment insurance business of its members. After turbulent years during the COVID-19 pandemic, the export credit insurance industry largely recovered last year:

  • The total new business of BU members amounted to 2.9 trillion USD.
  • A particularly strong increase in new business was observed in Europe and North America as well as in the manufacturing and transportation sectors.
  • Medium- and long-term business returned to strength, particularly in the second half of 2022, reaching over USD 130bn in new business for the year just 5.9% below 2019 levels.
  • Demand for political risk coverage increased by 21% as the geopolitical situation remains tense.
  • The business volume in the renewable energy sector continues to rise steadily and was almost twice as high in 2022 as in 2019. This growth is accompanied by a variety of initiatives to promote investments in renewable energy. These include, for example, the Export Finance for Future (E3F) initiative and financial incentives for sustainable projects.
  • Demand for investments increased by 21% compared to 2021.
  • Overall claims paid fell in the previous year while recoveries increased by 46% to USD 3.2bn.

The export credit and investment insurers demonstrated once again in 2022 how adaptable and resilient the industry is. They responded to the new circumstances with adapted and expanded products as well as increased cooperation.

All aggregated business data for 2022 as well as an overview of the development of new commitments and claims can be found in the current industry report:

About Berne Union

The Berne Union (BU) is the association of export credit and investment insurers and currently has 85 members from more than 70 countries. The members of the BU, including OeKB, promote cross-border trade. They support exports and foreign investments by covering political and economic risks, often on behalf of their governments. In 2022, Berne Unions's member cover 12% of world cross border trade for goods and services.