The credit and investment insurance industry important in sustaining economic growth
Export credit and investment insurers are optimistic about growth, despite increasing trade risks and political uncertainty. Berne Union members’ business closely tracks developments in the world economy, but at the same time shows considerably less volatility, says Berne Union President and Deputy CEO of Finnish ECA, Finnvera, Topi Vesteri. The Berne Union is an association for the global export credit and investment insurance industry.
According to Vesteri this shows how important the credit and investment insurance industry is to sustaining economic growth.
–Last year Berne Union members insured 11 % of total world trade and have paid over USD 40 billion in claims since the beginning of the global financial crisis in 2008. Although we have seen some high claims, these are well within tolerable limits for our business, Vesteri says.
The Berne Union held its Spring Meeting in Copenhagen in May.
Danish Minister of Finance, Kristian Jensen, addressed attendees to the meeting in a speech highlighting the importance of global free trade in promoting growth, prosperity and peace. The former Danish Minister of Foreign Affairs, Uffe Elleman-Jensen, stressed that “international cooperation and cohesion are more needed than ever before” to restore public trust in international institutions.
Topi Vesteri, Deputy CEO, Finnvera, + 358 29 460 2679