This year's annual general meeting of the Berne Union (BU) focused on the theme of “adaptability.” In mid-October, more than 200 participants from 87 institutions met in Ottawa to discuss business performance and current challenges.
At the BU Annual Meeting, representatives of the export credit and investment insurance industry, including Helmut Bernkopf and Gerhard Kinzelberger from OeKB, discussed the ongoing uncertainty and dynamic change in global markets. Among other things, the focus was on addressing roadblocks to private investment in high risk markets and securing resilient supply of critical minerals.
Highlights from BU industry data for the first half of 2025
- Record level of new business
In the first half of 2025, members' new business reached a new record level of US$2.7 trillion. Increased risk perception and global uncertainty are leading to a significant rise in demand for export credit insurance. - Renewable energies continue to be of great importance
Large transactions in the transport and renewable energy sectors are driving growth in medium/long-term business. Renewable energies now represent the second-largest area of new business in the medium/long term. - Decline in claims payments
Claims paid decline significantly as losses connected to sovereign defaults stem. Nevertheless, both political risk and global insolvencies remain elevated.
In the medium/long-term business, two factors are currently having a particularly strong impact: firstly, the debt situation in Ghana, Zambia, and Ethiopia, albeit less pronounced than in the second half of 2024, and secondly, claims resulting from the sanctions against Russia.
The Berne Union continues to expand
New membership applications have been submitted by the African Development Bank, among others. In addition, MSIG North America is the latest player to join the growing private market for credit and political risk insurance (CPRI).
About Berne Union (BU)
The Berne Union is the international association of export credit and investment insurers. The members collectively provide payment risk protection equivalent to approximately 12% of annual world trade. OeKB has been a member of the BU since 1954 and represents the interests of the Austrian export industry there.