Zurich Emerging Markets Solutions (ZEMS), the political risk and credit insurance arm of Zurich North America, was elected a permanent member of the Berne Union at its recent annual general meeting. Daniel Riordan, executive vice-president and managing director of ZEMS, was also named chairman of the technical panel of the Investment Insurance Committee.
Based in London, the Berne Union was established in 1934 and has 52 members from 43 countries. The organisation promotes international acceptance of sound principles of export credit insurance and foreign investment insurance. It also provides a vital forum for exchange of information, experience and expertise among members. Between 1982 and 2002, the members of the Berne Union provided support for exports worldwide amounting to US$7,334bn and supported foreign direct investments of US$139bn.