Trade Credit Insurance Market Updates

Global Trade Credit Insurance Market size was valued at USD 10.58 Billion in 2023 and is poised to grow from USD 11.76 Billion in 2024 to USD 27.51 Billion by 2032, growing at a CAGR of 11.2% in the forecast period (2025-2032).

The global trade credit insurance market is competitive with industry leaders such as Atradius N.V., Chubb, Euler Hermes (Allianz Trade), Coface, and QBE Insurance Group being at the top. Businesses tend to compete on the basis of offerings, geographic reach, funds, and technological innovation. Increased digitalization, risk management based on artificial intelligence, and bespoke solutions are defining competition. Insurers tend to compete for market share and customers in general, but other competitive drivers like acquisitions, strategic alliances, and penetration to new and emerging economies tend to dominate competitors at times. 'Atradius N.V.', 'Chubb', 'Euler Hermes (Allianz Trade)', 'Coface', 'QBE Insurance Group', 'American International Group (AIG)', 'Zurich Insurance Group', 'Tokio Marine HCC', 'Great American Insurance Group', 'Trade Credit Re Insurance Company', 'Credendo Group', 'AXA XL', 'Markel Corporation', 'BNP Paribas Cardif', 'Sompo Holdings Inc.'

The volume of demand for trade credit insurance is greatly shaped by the growth of world economies and global volumes of trade. Trade credit insurance is imperative with the threat of payment defaults as more firms operate across borders. Developing countries in Asia Pacific and Latin America are industrializing very fast, contributing to growing demand for protection through credit to be financially secure and achieve lasting prosperity.

Digitization and Risk Assessment Powered by AI: Big data analytics and artificial intelligence are increasingly used to predict risk in the trade credit insurance sector, which is rapidly becoming digital. AI-based solutions would allow for real-time monitoring of buyer creditworthiness; improve underwriting accuracy; and lower the risks of claims. For example, others are experimenting with blockchain technology to minimize fraud, enhance transparency, accelerate transactions, enhance efficiency and access to trade credit insurance for all businesses.

With the highest market share, the European trade credit insurance industry topped the list in 2024 and is expected to remain on top during the forecast period. The presence of influential market players, extensive application of advanced risk evaluation technology, and strong trade-supporting regulatory systems all contribute to the success of the region. Market growth is also supported by favorable government incentives, including fiscal support and protection programs. Globally, trade credit insurance has become increasingly a tool with which firms financially protect and expand their operations as they tap into the offering to lower credit risk, secure payment, and react to the uncertain economics.