Press release: September 2001

The Members of the Berne Union, who had their Annual General Meeting in Biarritz/France on 19 September 2001, saw their total insured business increase from US$ 479 billion in 1999 to US$ 504 billion in 2000.

Medium and Long Term export credit business went up to US$71 billion (1999: US$ 62), Short Term business to US$ 420 billion (1999: US$ 403).

Insurance of foreign direct investments that increased substantially in the early nineties, stabilised at US$ 13 billion.

Total exposure of Berne Union Members amounted to US$ 510 billion at the end of 2000, of which US$ 453 billion related to export credits and US$ 57 to investment.

In Biarritz, Mr. Vivian Brown, Chief Executive of the UK’s Export Credits Guarantee Department (ECGD) was elected as President of the Union, replacing Mr. Ahmet Kiliçoglu, General Manager of the Export Credit Bank of Turkey (TURK EXIMBANK).

Mr. Peter Silberschmidt, Managing Director of Geschäftsstelle für die Exportrisikogarantie (ERG, Switzerland) was elected as Vice President.

The Annual General Meeting approved the membership (initially as Observers) of Zurich North America (Washington, USA) and Sovereign Risk Insurance Ltd. (Bermuda).

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