Lebanese insurer to head Prague Club
Beirut, March 11, 2014
The Berne Union Prague Club, an information exchange network for new and maturing insurers of export credit and investment, has elected Karim Nasrallah, who is the general manager of the Lebanese Credit Insurer (LCI), as its chairman to serve for the coming two years.
In his new capacity as the chairman of this membership union, Nasrallah will be focus on enhancing the status of the club on a global scale, as well as raising its profile and improving communication and transparency among its members, said a statement.
The Prague Club brings together 36 global members, to further develop the export credit and investment insurance industry.
The credit and investment insurers provide risk mitigation products to exporters and investors, allowing them to trade safely in a volatile international context.
In 2012, the club members provided a support to global trade by insuring $26.5 billion worth of exports and paid claims to their insurers to the amount of $150.9 million.
LCI, who joined the Prague Club in 2009, is the only private member to take part. It is an independent specialised credit insurance company in Lebanon and the Middle East. - TradeArabia News Service