Berne Union 90th Anniversary
In 2024, the Berne Union proudly commemorates its 90th anniversary, celebrating nearly a century of fostering international trade and economic resilience. Throughout the year, the Berne Union has highlighted its significant impact on cross-border trade and its contributions to addressing global challenges through various initiatives. This page provides a summary of some of the most notable milestones of the year.
Since its inception in 1934, the Berne Union has been a cornerstone of global trade, uniting export credit and investment insurers to support businesses worldwide. 90 years is a testament to the enduring strength and adaptability of the Berne Union community. Over the decades, our members have navigated economic upheavals, geopolitical shifts, and unprecedented difficulties, always emerging stronger and more united. Together, this community, has facilitated trillions of dollars in trade, mitigated risks, and enabled countless businesses to thrive on the global stage.
"The Berne Union is, first of all, made of men and women who, despite their different nationalities, understand each other, unite, collaborate, exchange, innovate and commit themselves to reach the same goal : develop the export credit industry worldwide"
Maëlia Dufour, Berne Union President's (2022-2024) address prior to AGM 2024 in Hamburg, Germany
Berne Union is about mitigating risk...
"As a countercyclical risk mitigator, our industry thrives in challenging circumstances. Through a series of economic crises, not least in the past decade and a half, we have learned, adapted, and emerged arguably more essential, impactful, and visible than ever."
Paul Heaney, Berne Union Secretary General
Berne Union is about 90 years of experience...
Historic timeline
1934: Berne Union founded by three private credit insurers from France, Italy, Spain, and the UK’s public sector representative.
UK Export Finance, ECGD at the time, is the only founding member that is still in existence under its original form
1934: First meeting held in Berne, Switzerland
(which is where the name Berne Union comes from)
1947: Berne Union welcomes its first non-European member, Export Development Canada (EDC)
Berne Union Secretariat established in Paris, France
1954 Berne Union statutes
Excerpt: “the present statutes approved by the General Assembly of 7th May 1954 will come into force as from that date. Each member will receive a copy”
1957: EPIC (now EFIC) Australia joins the Berne Union
1957: Berne Union welcomes first Asian member
"The Export Risks Insurance Corporation (Pvt.) Ltd.(ERIC)", later known as "Export Credit & Guarantee Corporation of India Ltd.", and now "ECGC Ltd."
1957: The Berne Union hires its first Secretary General, Mr. Wladyslaw Houwalt
1958: Berne Union welcomes its first African member CGIC South Africa
Membership continues to expand
1970: The Berne Union’s mandate expands to include members who insure foreign investments; creation of the investment insurance committee (IIC)
1973: First Latin American member joins
(CASC, Argentina)
1974: The Berne Union has 32 members from 24 countries
1984: Berne Union celebrates its 50th anniversary;
Annual General Meeting (AGM) in Montreux, Switzerland
Berne Union members start to report business data
1989: Collapse of the Berlin wall which led to the creation of Eastern European export credit agencies
1992: Berne Union elects first Asian President, Mr. K. S. Foo (ECICS, Singapore)
1993: Foundation of the Prague Club with support from EBRD
The Prague Club aims to support new and maturing export credit agencies and insurers setting up and developing export credit and investment insurance schemes
1994: Berne Union elects first female President
(Soledad Abad, CESCE)
1994: First multi-lateral agency joins, Multilateral Investment Guarantee Agency (MIGA)
1999: The export credit members formed two committees focusing on short term (ST) and medium-long term (MLT), ECA only, export credit business
1999: First Prague Club member joins the Berne Union, Export Credit Insurance Corporation Joint Stock Company (KUKE), Poland
2001: American International Group (AIG) joins Berne Union
2004: Berne Union Value Statement created
2006: Berne Union Guiding Principles created
2008 – 2009: global financial crisis
2009: Berne Union celebrates its 75th anniversary;
Annual General Meeting (AGM) in Seoul, Korea
2013: Prague Club celebrates 20th anniversary in Prague
2014: Berne Union celebrates its 80th anniversary
2016: Berne Union and Prague Club formally integrate
The integration was confirmed at the 2016 Warsaw Spring Meeting, with the amended statutes adopted soon after
2017: New Berne Union now represents 84 members from 73 countries worldwide
2017: Launch of the 'BUlletin' Newsletter
A new bi-monthly publication with thought-pieces and data from across the industry
2018: Capacity Sharing Marketplace connects BU members with DFIs
Part of the BU's outreach initiative to better connect members with external stakeholders in connected spheres of international finance
2019: Young professionals initiative launched
The YP initiative provides a platform which both promotes engagement and increases the value of our output for young, junior and rising professionals across the BU community.
2019: BU data collection expands to include sectors and additional products
BU data remains the most comprehensive source of information on the industry. 2019 also marked the publication of the first 'state of the industry' report, making aggregate level data and analysis available publicly
2020: BU Members respond to COVID-19 Pandemic
Members respond quickly to the crisis, with increased flexibility and new programmes to support the liquidity of exporters. The BU continues to connect members and collect information across the industry to support this.
2021: BU Committees restructure to reflect changes in the market
A new MLT committee brings together ECAs, multilateral and private insurers to discuss credit and investment. The ECA committee focuses on wider issues relating to official export credit support
2021: BU launches the first 'Business Confidence Index'
Based on quarterly member surveys the BCI provides a continuous indicator of the overall perception of demand, risk appetite and claims in the export credit insurance industry.
2022: BU launches a Climate Working Group
The CWG is unique in bringing together BU members and partners to focus on practical issues around climate finance and low carbon transition
2023: Private representation continues to grow
As of 2023 the number of private members has increased to 17
2024: BU celebrates it's 90th anniversary
BU Members continue to provide flexible risk capacity with over USD 3 trillion in total annual new commitments in support of trade and investment
Berne Union is about impact...
The Berne Union plays a crucial role in facilitating international trade by providing payment risk protection to exporters, banks, and investors. The impact of the Berne Union is significant in promoting global trade stability and growth.
Berne Union is about partnerships...
On 27 February 2024, the Berne Union together with UK Export Finance organised a Stakeholder event to mark the anniversary. During the event, key themes were explored that have an impact on international trade today and the role of export credit.
Berne Union is about trade resilience...
The Berne Union stands as a beacon of resilience in global trade, fostering a community where collaboration and shared knowledge empower businesses to navigate challenges with confidence. Similarly as the World Trade Organisation and other international organisations that foster trade, the Berne Union champions best practices, driving economic growth and stability. Efforts of these organisations ensure that international trade remains robust and inclusive, inspiring a future where businesses thrive and global connections flourish.
- Ngozi Okonjo-Iweala, Director General, World Trade Organisation
- Remy Rioux, CEO, AFD
Berne Union is about collaborations...
The Berne Union and Finance in Common are united in their mission to build a more sustainable and resilient global economy. By fostering collaboration between export credit agencies and public development banks, they are bridging financing gaps and driving innovative solutions for sustainable development. Together, they champion the Sustainable Development Goals and the Paris Agreement, inspiring a future where economic growth is both inclusive and environmentally responsible. Through shared knowledge and joint efforts, they are paving the way for a brighter, more connected world.
Berne Union is about community and friendships...
The Berne Union is more than just an industry association; it’s a vibrant community where lasting friendships are forged. Members come together to share knowledge, support one another, and collaborate on common goals. This sense of camaraderie and mutual respect creates a strong network that extends beyond professional boundaries, fostering a spirit of unity and collective growth.
Berne Union is about opportunities and growth...
The Berne Union Young Professionals Initiative plays a crucial role in ensuring the sustainability and growth of the trade finance sector by investing in its future leaders. By equipping young professionals with the necessary tools and knowledge, the initiative helps to foster innovation and drive the industry forward
Berne Union is about people and ideas...
Over the years community has enjoyed expertise from global thought leaders, industry experts, policy and governance key figures whose views have shaped how we understand the economy, trade, risk and beyond all - people.
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