Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.
The growing market for trade credit insurance can be attributed to the robust international trade channels allowing businesses from several countries to expand their business universally. A trade credit insurance provides a business protection against the risk of non-payment. As a result, a trade credit insurance significantly reduces payments’ risk associated with doing business on credit. This is providing impetus to the market. A trade credit insurance covers commercial risks such as insolvency of the buyer and bankruptcy, political risks such as war, terrorism, or riots, and also covers currency inconvertibility, expropriation, and changes in import or export regulations in case of international trade. Thus, the wide applicability of trade insurance is propelling the market growth. Further, advancements in the BFSI sector and the inclusion of matured computing technology such as AI and Big Data to analyse trends and run predictions are additional factors furthering the market growth.
The Insurance Regulatory and Development Authority of India (IRDAI) recently revised guidelines for trade credit insurance in September 2021 to deal with the evolving insurance risk needs of various sectors and respond to changing market conditions. The revised changes were announced to be implemented on 1st November 2021. The revision in the guidelines were aimed at promoting sustainable and healthy development of trade credit insurance business and improve the economic stability by labelling trade losses because of credit risks. Such developments are augmenting the market growth. The growth of the market can further be associated with the expansion strategies employed by leading market players such as American International Group, Inc (NYSE: AIG).
Market Analysis by Component, Enterprise Size, Coverage, Industry Vertical, Application, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global trade credit insurance market are American International Group, Inc., Aon plc, Atradius N.V., Credendo – Export Credit Agency, Euler Hermes SA, and QBE Insurance (Australia) Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.