INCREASE IN BUSINESS COVERED
The Members of the Berne Union, who had their Annual General Meeting in Amsterdam on 18 October, saw their total insured business increase from US$385 billion in 1998 to US$426 billion in 1999.
Medium and Long Term export credit business went up to US$67 billion, Short Term business to US$345 billion.
Insurance of foreign direct investment continued the upward trend started in the early nineties. During 1999, their new insured investments amounted to US$14 billion.
Total exposure of Berne Union Members amounted to US$577 billion at the end of 1999, of which US$516 billion related to export credits and US$61 to investment.
PRESIDENT AND VICE PRESIDENT
In Amsterdam, Mr. Doron Klausner, Managing Director of the Israel Foreign Trade Risks Insurance Corporation (IFTRIC) was re-elected as President of the Union.
Mr. Ahmet Kiliçoglu, General Manager of the Export Credit Bank of Turkey (TURK EXIMBANK) was elected as Vice President.