The members of the Berne Union (BU) looked back on a challenging year at the Spring Meeting. In the face of an increasingly uncertain and volatile global economy with mounting barriers to trade, export credit and investment insurers are focussing on strengthening supply chains.
This year's Spring Meeting of the Berne Union (BU) focused on the topic of resilience and the question of how the industry can meet current challenges such as fraud, conflict recovery, sovereign debt and climate risks, and what role innovation and technology can play in this.
The industry data for the previous year, which was published in parallel to the meeting, shows a new record volume of insured new business and a simultaneous sharp rise in claims.
Industry trends and figures at a glance
- Focus on trade barriers: A recent BU survey shows that many members are closely monitoring the impact of tariffs and other trade barriers on supply chains. The need for targeted support in this area is growing - only a few have responded with specific products so far.
OeKB has been offering a new financing solution for investments in the supply chain since spring 2024. Austrian export companies can use Vorratsinvest to finance the expansion of their warehouse and investments in securing the supply chain at attractive conditions. The aim is to ensure production and delivery capability and minimise the consequences of failures and delays in the supply chain.
- Record year 2024: Insured new business reached a new record of 3,3 bn USD. 161 bn USD of this was attributable to medium- to long-term projects, particularly in the areas of defence, cruise ships, infrastructure, manufacturing and renewable energies.
- Growth in new sectors: non-traditional industries, including green steel, 5G telecoms, battery gigafactories and small modular reactors, are becoming increasingly important.
- Significant increase in claims: Reported claims increased by 31% in 2024 compared to the previous year. The main causes were political events in countries such as Ghana, Zambia, Ethiopia, Sri Lanka and, increasingly, Russia.
BU PRESS RELEASE
STATE OF THE INDUSTRY REPORT
BU Spring Meeting in Dubrovnik
A global delegation of over 270 participants representing 91 export credit agencies, multilateral institutions, credit insurers, banks and corporates gathered in mid-May in Dubrovnik for the Spring Meeting of the Berne Union (BU). The attendees discussed about prevailing trends in a new environment for global trade and key topics around fraud, conflict recovery, sovereign debt, climate risk, innovation and technology.
About Berne Union (BU)
The Berne Union is the international association of export credit and investment insurers. The more than 85 members collectively provide payment risk protection equivalent to approximately 14% of annual world trade. OeKB has been a member of the BU since 1954. In the BU, OeKB represents the interests of the Austrian export industry.
