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Trade Credit Insurance Market Trends

Report ID: GMI6126
Published Date: Jun 2023
Report Format: PDF

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Trade Credit Insurance Market Trends

Trade credit insurance protects businesses from economic and political risks that can jeopardize their financial situation. The benefits of trade credit insurance policies, such as protection of accounts receivable from the loss caused by bankruptcy or credit risks including extended default, are driving product adoption globally. Furthermore, rising strategic initiatives among market players, such as partnerships, collaborations, and acquisitions, are expected to fuel market growth. Advancements in digital technology will enable insurers to provide more efficient & cost-effective services, making trade credit insurance more accessible & affordable to businesses.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for trade credit insurance reached 9.2 billion in 2022 and will record 10.2% CAGR from 2023-2032 driven by the surging need to limit the risk of non-payment from foreign buyers.

Trade credit insurance industry share from the automotive industry is estimated to exceed USD 2.2 billion by 2032 due to the changing consumer tastes, government regulations, and relative pricing.

Europe held more than 35% of the trade credit insurance industry share in 2022 owing to the presence of economic stability and well-established legal frameworks in the region.

American International Group, Inc, Aon Plc, Atradius, Chubb, Coface, Credendo, Export Development Canada (EDC), Euler Hermes, and Great American Insurance Company are some of the key trade credit insurance providers