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

Member News
05/02/2021

James C. Cruse Authorized as Acting EXIM First Vice President and Vice Chairman

EXIM Senior Vice President of Policy Analysis and International Relations James C. Cruse Authorized ...
Publications
02/02/2021

How credit insurance supports the real economy

The Berne Union has published an informational report illustrating the purpose, function and effecti...
Publications
27/11/2020

Berne Union 2020 Yearbook Published

We mark the year of ‘COVID’ and coalescence of mega trends in trade, risk, sustainability, public po...
Outreach
12/11/2020

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

The Berne Union's Capacity Sharing Marketplace brings together ECAs, DFIs, MDBs and private sector f...
Secretariat Update
09/11/2020

Jonathan Skovbro Steenberg joins the Secretariat as Economic Research Analyst

Jonathan joined the Secretariat in November 2020 with the primary responsibility to produce research...
Press Release
23/10/2020

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

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

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

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

New Commitee Structure better aligns the Berne Union with market reality

Members of the Berne Union have voted to adjust the structure of its Committees to better facilitate...
Job Vacancy
18/09/2020

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

A position has opened to join the Secretariat Team as Committee Manager / Associate Director with a ...
Secretariat Update
17/09/2020

Aman Union Industry Awards - call for nominations

the AU is accepting submissions from all industry professionals for an award recognising an exceptio...

Upcoming meetings

Digitalisation Webinar

Mar 2021
Online
A digitalisation webinar will be held in March (exact date tbc)

Claims and Recoveries Webinar

Mar 2021
Online
A short series of webinars will be held between March and May - details of individuals events tbc

Spring Meeting 2021

10-14 May 2021
Online
The Berne Union will hold its 2021 Spring Meetings online during the week of 10th May

Capacity Sharing Marketplace Online Workshop June 2021

07-10 Jun 2021
Online
Practical workshop exploring how public and private sources of international finance can cooperate to tackle g...

MLT Technical Panel Webinar

Aug 2021
Online
The MLT TP will take place around August 2021, most likely online, with details still tbc