Bermudian reinsurer Vantage Risk has joined as the latest Observer Member and participant in the Medium and Long Term (MLT) Committee of the Berne Union.
The reinsurer was admitted as a member following a presentation of their business to the Berne Union Annual General Meeting in Kigali and a vote among Members.
This now increases the number of private underwriters holding Berne Union membership to 17, and the number represented in the MLT committee to 14.
This heavily reflects the continuing growth in capacity and appetite in the private insurance market for longer tenor credit and political risks.
“Breadth of representation and depth of experience are the two greatest strengths of the Berne Union. The Vantage team have a huge combined experience in our industry, and the additional perspectives they bring will be a valuable addition to the crucial dialogue between ECAs, multilateral institutions and private credit insurers within our MLT committee,” said Berne Union President, Maëlia Dufour.
“Vantage is very excited to be accepted as a new member of the Berne Union (BU). As a tech-enabled, data-driven underwriting company, we look forward to contributing our expertise to further the goals of the BU, the leading global organization that supports the advancement of export credit and investment insurance,” added Vantage Global Head of Political Risk and Credit, Dan Riordan.
