Berne Union
The Berne Union, also known as The International Union of Credit & Investment Insurers, is the international organisation and community for the global export credit and investment insurance industry.
The mission of the Berne Union is to actively facilitate cross-border trade by supporting international acceptance of sound principles in export credits and foreign investments and by providing a forum for professional exchanges among its members.
The Berne Union was formed in 1934 by four public and private export credit institutions in an attempt to reduce commercial risk by exchanging reliable information on foreign buyers. The Union is legally domiciled in Bern, Switzerland, though it has not met there since 1939.
As of April 2013, the Berne Union has 49 member companies.[1] Berne Union members covered US$1.8 trillion worth of new business in 2011, more than 10% of global international trade, and paid out US$3.9 billion in claims.[2]
The Berne Union Prague Club is an information exchange network for "new and maturing" providers of export credit and investment insurance. The Club was launched in 1993 by the Berne Union with funding from the European Bank for Reconstruction and Development. Initially starting out with members from Central and Eastern Europe only, the Prague Club now includes members from Asia and Africa, for a total of 37 member agencies. Its members insured USD 26.7 billion of exports in 2011. Claims paid amounted to US$104 million.[3]