Daily Management Review

Iran joins international union of insurers Berne Union


The International Union of Credit and Investment Insurers (Berne Union) accepted Iran as a member after its candidacy the majority of the union members' votes, according to the IRIB news agency.

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The Export Guarantee Fund of Iran has become a permanent member with a majority votes of the union's members, the Berne Union Secretariat stated.

A worldwide non-profit group known as Berne Union (The worldwide Union of Credit and Investment Insurers) brings together insurance industry experts who work in export credit and investment insurance. The Union's administrative center is located in London.

The Union provides services in export credit and international investment insurance. Its members provide banks, exporters, and investors with insurance coverage totaling approximately $2.5 trillion, which exceeds 13% of international trade, according to data as of early 2022. Berne Union members finance projects in the field of search and development of alternative energy sources, urban and rural development, electricity in various countries.

source: iribnews.ir