Zurich North America, the U.S. subsidiary of the Anglo-Swiss group Zurich Financial Services, announced that its Zurich Emerging Markets Solutions (ZEMS) unit has been accepted for membership in the International Union of Credit and Investment Insurers (the “Berne Union”).
The London-based Berne Union, founded in 1934, promotes international acceptance of sound principles of export credit insurance and foreign investment insurance. 48 countries are represented as well as the Overseas Private Investment Corporation, the U.S. EXIM Bank, and the private investment corporations of the U.K., France and Canada, as well as a number of private companies.
ZEMS, a leading underwriter of political risks, has written policies in some 70 countries, frequently in cooperation with Berne Union members. Dan Riordan, who heads the Zurich unit, said its acceptance for membership recognized ZEMS “significant contribution to the international political risk marketplace,” and would enhance its ability to work with others to “foster international trade and investment.”|”zurich, unit, join, ‘berne, union’