Bharat Book

Trade Credit Insurance in Europe

Press Release   •   Jun 15, 2013 11:26 IST

Valued at just under EUR 4 billion in gross written premiums in 2012, this market began growing again in most countries following the macro-economic shocks of 2009 and 2010 which caused cover to be withdrawn from areas perceived to carry excessive risk.
 In addition to documenting the development of the market value from 2008 to 2012, the report also divides it for the most recent year between four key segments: between small companies with an annual turnover of less than EUR 5 million and larger companies with a turnover above this threshold; between single-risk and annual policies; between export and domestic trade credit insurance; and between protection acquired for political risks and cover bought for business risks.
 These unique market splits are based in part on a survey of 240 leading brokers of trade credit insurance across the ten countries. In each country, this same survey also identifies the underwriters of this type of cover used by brokers on a regular basis, gives an input into Finaccord's estimates for the market shares of underwriters and brokers of trade credit insurance, provides a basis for commentary surrounding distribution channels used for this type of policy, and informs Finaccord's forecasts for the market value through to 2016.
 Key features of this report include:
 - quantification of the market size for trade credit insurance in each of the ten countries: how much is each market worth, where is the fastest growth occurring and how do they break down into key segments?
 - presentation of the actual or estimated market shares of both brokers and underwriters of trade credit insurance in 2012 based on both the survey of 240 brokers and other available data sources;
 - audit of the frequency of usage of underwriters by major brokers of trade credit insurance in each country: to what extent are competitors effectively challenging the dominant trio of Atradius, Coface and Euler Hermes?
 - availability of an accompanying PartnerBASE™ dataset that logs partnerships for trade credit insurance identified by Finaccord across a combined total of 230 leading banks and 220 major trade associations;
 - forecasts for the market for trade credit insurance in each country and how it will split between domestic and export trade credit cover: what is this sector likely to look like in 2016?
 The markets of most countries experienced significant nominal growth in 2011 and 2012...
 ... although that of Spain has continued to contract
 Germany and France host the largest markets for trade credit insurance in Europe...
 ...although relative to GDP the Austrian and Spanish markets are the most developed
 Three international groups dominate the market for trade credit insurance...
 ... but there are plenty of challengers seeking to erode their position
 The market for export trade credit insurance is forecast to outpace that for domestic trade credit cover
 The total market is predicted to expand at a compound annual rate of 1.8% in nominal terms up to 2016
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