New Member Announcement
The Berne Union welcomes African Development Bank and MSIG USA as Observers, expanding total membership to 90 members from 68 countries globally
Both organisations have been formally voted in as Observer Members following a presentation of their business at the Berne Union Annual General Meeting in Ottawa this October.
Both organisations will participate in the BU MLT Committee, which focuses on guarantees and insurance for medium- and long-term credit and foreign investment.
African Development Bank (AfDB)
joins on the basis of its growing guarantee business and becomes the fifth multilateral member of the association, also bringing the number of African institutions to 10.
MSIG USA
is a subsidiary of the Mitsui Sumitomo Insurance Group and joins sister organisation MS AMLIN to boost the breadth of representation of the private CPRI Market.
“AfDB plays an essential catalytic role mobilising long-term stable flows of finance and is an important partner for underwriters of export credit and investment operating across the region. MSIG USA has quickly grown a substantial book of business which reflects the growing importance of private risk capacity to support trade and investment globally.
These organisations bring unique perspectives and deep expertise which will further enhance the BU MLT Committee as a forum for promoting cooperation, innovation and risk sharing between public and private institutions.”
BU Secretary General, Paul Heaney
