According to the new research report published by The Insight Partners, titled “Surety - Global Analysis and Forecast to 2027”, the global surety market is expected to reach US$ 28.77 billion in 2027, registering a CAGR of 7.5% during the forecast period 2019-2027.
In APAC region, the surety market is expected to flourish during the forecast period. This growth is highly attributed to the increasing commercial and residential construction in the emerging economies of the region. In the recent few years, surety market has noticed noteworthy M&A and partnership activity. Some of the significant deals include AmTrust Financial Services, Inc. entered into an amendment to the merger agreement with Evergreen Parent, L.P., under this agreement Evergreen parent will acquire approximately 45% of the Company's shares of common stock. Also, American Financial Group announced entering into an agreement to acquire ABA Insurance Services Inc. for approximately US$ 28 Mn. This acquisition is aimed to strengthen the position of the company in the market.
Some of the key players operating in the surety market are AmTrust Financial Services, Inc.; Crum & Forster; CNA Financial Corporation; American Financial Group, Inc.; The Travelers Indemnity Company; Liberty Mutual Insurance Company; Hartford Financial Services Group, Inc.; HCC Insurance Holdings; IFIC Surety Group; and Chubb Limited among others.
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- ØThe study provides an in-depth analysis of the global Surety Market to elucidate the prominent investment pockets.
- ØCurrent trends and future estimations are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market.
- ØThe report provides information related to key drivers, restraints, and opportunities and their impact analysis.
- ØThe market is analyzed based on various regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
This market research report provides a big picture on “Surety Market”, on a Global basis, offering a forecast and statistic in terms of revenue during the forecast period. The report covers a descriptive analysis with detailed segmentation, complete research and development history, latest news and press releases. Furthermore, the study explains the future opportunities and a sketch of key players involved in the “Surety Market hike in terms of revenue.
The market cycles for surety and construction have been stable, resulting in increased competition. With the falling oil & gas prices, the current market scenario requires diligence as well as constant high underwriting standards. Terms and conditions related to underwriting are loosening as surety players are fiercely endeavoring to grow market share. Some of the key developments noticed in the surety market are listed below:
2018: AmTrust Financial Services, Inc. entered into an amendment to the merger agreement with Evergreen Parent, L.P., under this agreement Evergreen parent will acquire approximately 45% of the Company's shares of common stock.
2018: American Financial Group announced entering into an agreement to acquire ABA Insurance Services Inc. for approximately US$ 28 Mn. This acquisition is aimed to strengthen the position of the company in the market.
2018: Chubb Limited entered into an agreement with Citibanamex which is a subsidiary of Citi Bank to market Chubb’s products through its branches and other marketing channels. Citibanamex also agreed to market surety products to Citibanamex commercial customers.
The report analyzes factors affecting Surety Market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors affecting the Surety Market in these regions.
GLOBAL SURETY MARKET SEGMENTATION
By Bond Type
- Contract Surety Bond
- Commercial Surety Bond
- Fidelity Surety Bond
- Court Surety Bond
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
- South America (SAM)
- Rest of SAM
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