Berne Union 2015 CONTACTS

Contacts

Published by TXF Ltd on behalf of the Berne Union. TXF ©TXF Ltd 2015 & the Berne Union. All rights reserved. Editor-in-chief The contents of this publication are protected by copyright. Jonathan Bell No part of this publication may be reproduced, stored, or News and features editor transmitted in any form or by any medium without the Oliver Gordon permission of the publisher and the Berne Union. Production editor The content herein, including advertisements, does not John Smith represent the view or opinions of TXF Ltd or the Berne Union and must neither be regarded as constituting advice Managing director Dan Sheriff on any matter whatsoever, nor be interpreted as such. Commercial director About TXF Dominik Kloiber TXF: Trade and Export Finance is a media and technology Product development director group set up to service the corporates, traders, financiers Max Carter and deal-makers that encompass the trade, commodity, Chief technology officer export and project finance communities. TXF has a James Petras contemporary and innovative approach to delivering Head of communications these markets with specialist news, high profile Katy Rose networking events, online and offline training and data Business development executive intelligence services. TXF News is subscription-free, Abby Smith reliable and interactive: www.txfnews.com Data analyst Ana Jovanovic About tagmydeals TXF has pioneered an online platform that connects individuals, teams and companies to financial deals. tagmydeals collates accurate, up-to-date public deal information. It’s credible, transparent, unbiased, and totally free of charge: www.tagmydeals.com

Published by International Union of Credit & TXF: Trade & Export Finance Investment Insurers Canterbury Court Including Berne Union Prague Club Kennington Park 1st Floor 1-3 Brixton Road 27-29 Cursitor Street London SW9 6DE London United Kingdom EC4A 1LT United Kingdom Tel: +44 (0) 20 3735 5180 Email: [email protected] Tel: +44 (0)20 7841 1110 Fax: +44 (0)20 7430 0375 www.txfnews.com 1 www.tagmydeals.com www.berneunion.org Berne Union 2015

Contents

1 Introduction

Berne Union committees and personnel 6 Foreword 8 Berne Union president Dan Riordan

2 Data and Statistics

Berne Union totals 14 Short-term export credit Medium- and long-term export credit insurance Investment insurance Analysing Berne Union data trends 20 Kai Preugschat, secretary-general, Berne Union, & Laszlo Varnai, assistant director, Berne Union

3 Expert Analysis

OVERVIEW The stabilising role of ECAs 28 Edna Schöne, board member, Aktiengesellschaft AG Cooperation in export finance 30 Michal Ron, managing director, head of international business, SACE The era of trade regulation 35 Ralph Lerch, chair of the EBF’s export credit working group, and global head of export finance at Commerzbank Borrowers and ECA financing 42 Helen Castell, senior reporter, TXF Media The future role and scale of ECAs 46 Laszlo Varnai, assistant director, Berne Union

SME FOCUS SMEs and Denmark’s EKF 50 Maria Steffensen, senior communications consultant, EKF SMEs and the Berne Union 52 Abbey Sturrock, director, Berne Union Supporting SME transactions 55 Matthias Wietbrock, managing director, Northstar Europe

REGIONAL FOCUS ECA innovations – the Finnvera example 58 Topi Vesteri, deputy CEO, group chief credit officer, Finnvera, & Satu Savelainen, senior advisor, Finnvera Sinosure’s rapid growth 61 Wang Yi, chairman, Sinosure Renminbi support 64 Paul Walsh, aerospace underwriting manager, UK Export Finance, & Hannah Steadman, aerospace underwriter, UK Export Finance Asian trade flows 66 Geetha Muralidhar, chairman and managing director, ECGC MENA perspective 69 Karim Nasrallah, general manager, Lebanese Credit Insurer ECAs and African banks 72 2 Rebecka Lundgren, country analyst, Africa, EKN, & Karl-Oskar Olming, Africa representati