2020 H1 Data: No increase in claims paid but contraction in new commitments

15/09/2020
Press Release

No increase in export credit insurance claims paid in the first half of 2020, but new commitments have contracted in both short term and medium / long-term business

London, 14 September 2020A preliminary report on the business activity of Berne Union Members in the first half of 2020 indicates that the expected spike in claims due to the COVID-19 pandemic has not yet been realised.

In contrast, export credit claims paid in 2020 H1 were 16% lower overall than for the first half of 2019. This can be partially attributed to a decline in new commitments during the same time, largely attributed to a general decline in exports, with a 23% drop in new medium and long-term (MLT) commitments reported and a 4% drop in aggregate credit limits issued under short term (ST) export credit insurance policies.

In MLT business, both public and private insurers’ new commitments declined, while for short term, private insurers’ commitments fell by 8%, whereas those of public insurers rose by the same percentage. Private insurers’ ST claims / commitments ratio came down marginally, while this increased for public insurers, as well as for both providers, in their MLT business.

Berne Union President Beatriz Reguero comments of the claims data that “the fact that we have not yet seen a significant increase in claims payments is in large part due to protection afforded by various forms of fiscal support from governments as well as by the quick reaction of lenders and insurers in restructuring deals when necessary. The consensus amongst the industry is that we can expect to see a more obvious change in claims trends towards the end of the year.”

Read the full press release here: September 2020 Press Release
Latest industry data here: 2019 FY Industry Data Report
Research on COVID response here: Export Credit Insurance response to COVID-19

Latest News

Berne Union 2020 Yearbook Published

27/11/2020
Publications
We mark the year of ‘COVID’ and coalescence of mega trends in trade, risk, sustainability, public po...

What does the post-COVID landscape for finance of trade and economic development look like?

12/11/2020
Outreach
The Berne Union's Capacity Sharing Marketplace brings together ECAs, DFIs, MDBs and private sector f...

Jonathan Skovbro Steenberg joins the Secretariat as Economic Research Analyst

09/11/2020
Secretariat Update
Jonathan joined the Secretariat in November 2020 with the primary responsibility to produce research...

Credit insurers prepare for increases in COVID-related claims in early 2021 during AGM Stocktake

23/10/2020
Press Release
Oct 2020 Press Release: AGM Industry Stocktake / SACE's Michal Ron Elected President / New Structure...

Appointment of New Elected Officials including Michal Ron (SACE) as President

23/10/2020
Member News
Members of the Berne Union voted to appoint new elected officials, including Michal Ron (SACE) as th...

New Commitee Structure better aligns the Berne Union with market reality

23/10/2020
Secretariat Update
Members of the Berne Union have voted to adjust the structure of its Committees to better facilitate...

Job Vacancy: Commitee Manager / Associate Director (investment and mlt credit insurance focus)

18/09/2020
Job Vacancy
A position has opened to join the Secretariat Team as Committee Manager / Associate Director with a ...

Aman Union Industry Awards - call for nominations

17/09/2020
Secretariat Update
the AU is accepting submissions from all industry professionals for an award recognising an exceptio...

2020 H1 Data: No increase in claims paid but contraction in new commitments

15/09/2020
Press Release
September 2020 Press Release presents a preliminary report on the business activity of Berne Union M...

Just Published 2019 Industry Data Review provides a valuable pre-COVID benchmark

11/09/2020
Publications
Berne Union Members provided USD 2.4 tn of cover in direct support of export credit and foreign inve...

Upcoming meetings

07-10 Dec 2020

Capacity Sharing Marketplace: How is the Marketplace Adjusting Amid the Crisis?

Online Webinar
Practical workshop exploring how COVID, Climate and Globalisation are disrupting traditional fi...
09 Dec 2020

BU-ICISA Regulatory Webinar

Online Webinar
2020 BU-ICISA Regulatory Meeting will be held as a series of three online webinars - 25 Novembe...
2021

POSTPONED: 2020 Digitalisation Specialists Meeting, Como, Italy

Como, Italy
Specialist meeting to discuss developments in the field of digitalisation and customer experien...
POSTPONED
Read more
25-26 Mar 2021

Project Finance Specialist Meeting

Zurich, Switzerland
The 2021 Project Finance Specialist Meeting will take place on 25-26 March, in Zurich, Switzerl...