In December 2013, the Berne Union Prague Club held its semi-annual meeting in Queenstown, New Zealand, hosted by the Export Credit Agency of New Zealand, NZECO. During the meeting, Mr. Karim Nasrallah, General Manager of LCI, was elected as Chairman of the Club to serve for the next two years.

In his new capacity as the Chairman of this membership union, Mr. Nasrallah is committed to focus on strengthening the Prague Club’s position, improving communication and transparency amongst its members and raising the profile of the trade credit insurance industry.

The Prague Club brings together 36 insurers from around the globe, to further the development of the export credit and investment insurance industry. Credit and investment insurers provide risk mitigation products to exporters and investors, allowing them to trade safely in a volatile international context. In 2012, Prague Club members provided an important support to global trade by insuring USD 26.5 billion worth of exports and paid claims to their insured the amount of USD 150.9 million. LCI, who joined the Prague Club in 2009, is the only private member of the group. The commitment of LCI to the Prague Club confirms its pledge to offer its clients the most innovative approaches in the industry by granting them access to an international and diversified network.

About the Prague Club

The Berne Union Prague Club is an information exchange network for new and maturing insurers of export credit and investment. It supports its members in developing their export credit and investment insurance schemes and facilities, through hosting technical discussions at bi-annual meetings, as well as by facilitating ad-hoc information exchanges.

For more information about the Prague Club, kindly visit: www.berneunion.org