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Berne Union and Prague Club

Berne Union and Prague Club. Kimberly Wiehl SECRETARY-GENERAL. EGAP Conference 13 September 2007. Long term business trends. Berne Union Members‘ New Business 1982 - 2006. New Business & Premium 2006. New business covered (USD billion) Short Term 969 Medium/Long Term 130

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Berne Union and Prague Club

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  1. Berne Union and Prague Club Kimberly Wiehl SECRETARY-GENERAL EGAP Conference 13 September 2007

  2. Long term business trends Berne Union Members‘ New Business 1982 - 2006

  3. New Business & Premium 2006 • New business covered (USD billion) • Short Term 969 • Medium/Long Term 130 • Investment 42 • Total 1,141 • Premium income (USD billion) • Short Term 2.3 • Medium/Long Term 3.6 • Investment 0.6 • Total 6.5

  4. Claims and recoveries in 2006 • Claims paid (USD billion) • Short Term 0.8 • Medium/Long Term 1.9 • Investment 0.1 • Total 2.8 • Recoveries received (USD billion) • Short Term 1.1 • Medium/Long Term 31.6 • Investment 0.1 • Total 32.8

  5. Claims & recoveries vs. premium

  6. The BU and Prague Club 1934: First meeting of the Berne Union with 4 members (public and private) 1993: First meeting of the Prague Club. Supported by funding from the EBRD. 2001: Pavol Parizek of EGAP elected as the first Chair of the Prague Club. Followed by Malgorzata Rutkowska (KUKE), Vida Zabukovec (SID) and Csaba Simon (MEHIB). 2007: Prague Club has 14 CEE members, 11 from Africa/Middle East/Asia including 3 multilaterals. 2007:Berne Union and Prague Club together are 70 members insuring 10% of total world export trade

  7. Prague Club: Business volumes Prague Club New Export Credit Business 1993-2006 (USD millions)

  8. New Business & Premium 2006 • New business covered (USD million) • Short Term 16,859 • Medium/Long Term 3,042 • Total 19,901 • Change +35.5% • Premium income (USD million) • Short Term 51.3 • Medium/Long Term 97.6 • Total 148.9 • Change +39.6%

  9. Claims and recoveries 2006 • Claims (USD million) • Short Term 30.2 • Medium/Long Term 40.7 • Total 70.9 • Change +22.7% • Recoveries (USD million) • Short Term 6.0 • Medium/Long Term 49.6 • Total 55.6

  10. PC Developments • Original aim to provide technical expertise to support institution building of ECAs to promote national exports. • Rapid expansion of membership as new ECAs could join even before having written any policies. • Strong growth in ST insurance – followed by developing business in MLT and INV areas. • Foreign competition enters the home markets – both domestic and export business. • Cooperation agreements activated to risk share in transactions. • Operating on a commercial basis from an early stage – reinsurance, capital management and now, privatisation.

  11. Issues and Trends • Competition – more market players – more pressure on pricing. How to maintain market share? • Adapting to EU regulations on marketable risks. • SME clients – how to meet their needs on a cost effective basis? • New products – expansion into new types of business. • Working with banks – maximise opportunities for financing capacity. Impact of Basel II. • Risk assessment and pricing models. Portfolio and capital management. • Using technology effectively to streamline administration, underwriting, client communication.

  12. What do the BU and PC stand for? Value Statement “We are committed to operate in a professional manner that is financially responsible, respectful of the environment and which demonstrates high ethical values - all in the best interest of the long-term success of our industry.” Sound Principles “… to work for the international acceptance of sound principles of export credit … (and) foreign investment insurance …” Interaction ”… to provide for the exchange of information, assistance, expertise and advice …” (i.e. providing members with a forum for co-operation & professional interaction)

  13. BU and PC Guiding Principles • We conduct our business in a manner that contributes to the stability and expansion of global trade and investment on a sound basis, that is, in accordance with applicable laws and relevant international agreements • We carefully review and manage the risks we undertake • We promote export credit and investment insurance terms that reflect sound business practices • We aim to generate adequate revenues to sustain long-term operations reflective of the risks we undertake • 5. We manage claims and recoveries in a professional manner, whilst at all times, recognising the insureds’ and obligors’ rights • We are sensitive about environmental issues and take such issues into account in the conduct of our business.

  14. BU and PC Guiding Principles 7. We support international efforts to combat corruption and money laundering 8. We promote best practices through exchange of information on our activities, policies and procedures and through the development of relevant agreements and standards, where these are deemed necessary to govern the provision of export credit and investment insurance 9. We are committed to furthering transparency amongst members and in the reporting of our overall business activities, reflective of international practices and respectful of the confidentiality of third party information. 10. We encourage co-operation and partnering with commercial, bilateral, multilateral and other organisations involved in export trade and investment business.

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