Mr Ante Alić, HBOR's representative, has been elected, with a two-third majority, to the Management Committee of the Berne Union for a two-year term of office. The Berne Union is the leading association for the global export credit and investment insurance industry. The election of the representative of HBOR to the top management body of the Berne Union is the recognition of the long-lasting HBOR's contribution to the development and implementation of export credit insurance activities, which have been carried out by HBOR for and on behalf of the Republic of Croatia since 1998. Mr. Alić's joining the Management Committee will additionally strengthen the international recognition of HBOR.
HBOR as an Insurer HBOR has insured the overall volume of export transactions in the amount of almost HRK 22.5 billion so far. A considerable demand for this type of financial support for Croatian exporters was noted also in 2016, the year when HBOR provided cover for the volume of HRK 1.4 billion of Croatian exports to buyers in 35 countries of the world. The most significant export transactions insured were to the markets of Algeria, the Netherlands and Armenia. During 2016, altogether 6 indemnities were paid in the total amount of HRK 8.8 million. When performing export credit insurance transactions, HBOR pays particular attention to small exporters and start-up exporters and has also enabled, on its own or in cooperation with domestic and foreign banks, large exporters to finance capital export projects in the shipbuilding, telecommunications and construction industries.
About the Berne Union The Berne Union was established in 1934 for the purpose of enhancing trade and investment flows globally through export credit and investment finance. Members of the Berne Union are 84 private, government or multilateral insurers from 73 countries that provide cover, on an annual level, for more than 10% of total world cross border trade. Since 1999, HBOR has been a member of the Prague Club, which was established in 1993 at the initiative of the Berne Union and the European Bank for Reconstruction and Development in order to foster cooperation among export credit agencies from Eastern and Central Europe. At the meeting of the Berne Union and the Prague Club in Warsaw in May 2016, the Prague Club was integrated into the Berne Union as its fourth Committee.