Trade credit insurance is a financial risk management product that protects businesses against losses arising from the non-payment of commercial debts. It covers situations where customers fail to pay for goods or services due to insolvency, protracted default, or political risks (in the case of export trade).
The trade credit insurance market consists of sales, by entities (organizations, sole traders or partnerships) that primary purpose of trade credit insurance is to safeguard cash flow and reduce financial risk for companies that sell goods or services on credit.
The global trade credit insurance market reached a value of nearly $17,322.64 million in 2024, having grown at a compound annual growth rate (CAGR) of 2.65% since 2019. The market is expected to grow from $17,322.64 million in 2024 to $21,945.42 million in 2029 at a rate of 4.84%. The market is then expected to grow at a CAGR of 4.40% from 2029 and reach $27,218.66 million in 2034.
Expanding Cross-Border Trade
During the historic period, the trade credit insurance market was mainly driven by expanding cross-border trade. As global trade activities accelerated, businesses increasingly engaged with international buyers, exposing them to greater payment uncertainties, diverse credit risks and longer settlement periods. This surge in cross-border transactions heightened the need for reliable risk-mitigation tools that could protect suppliers from potential defaults and stabilize cash flows. Moreover, the expansion of global supply chains and the rapid recovery of international trade following the pandemic encouraged companies of all sizes to seek credit insurance as a safeguard for export-led growth. For example, according to the World Trade Organization (WTO), an international organization that regulates and facilitates global trade, world merchandise trade volume grew by 6.4% in 2021 and by 3.3% in 2022, reflecting a strong rebound in global trading activities after the pandemic-driven contraction. These increases demonstrate renewed momentum in international commerce, which significantly elevated demand for credit-risk protection. Therefore, the trade credit insurance market was mainly driven by expanding cross-border trade.
Development of a Lloyd's-Based Platform for Enhanced Credit Insurance Capacity
Companies in the trade credit insurance market are focusing on the creation of Lloyd's-based insurance platforms designed to expand underwriting capacity, strengthen financial security and deliver higher-rated credit insurance solutions to businesses. These innovations focus on improving capital access, enhancing global reach and addressing rising demand for stronger protection against non-payment risks. For instance, in July 2025, Coface, a France-based global leader in trade credit insurance, launched a new Lloyd's syndicate (Syndicate 2546) designed to offer AA-rated trade credit insurance solutions and to respond to common challenges related to capacity constraints, elevated risk exposures and the growing need for specialized coverage across international markets. The syndicate, established in partnership with Apollo Syndicate Management, provides clients with access to stronger financial backing, broader coverage capabilities and enhanced underwriting expertise within Lloyd's -marketplace. By combining advanced credit-risk knowledge with the financial strength and global infrastructure of Lloyd's, the company aims to deliver more resilient, secure and adaptable insurance solutions that support the evolving needs of businesses engaged in domestic and cross-border trade.
The global trade credit insurance market is highly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 37.55% of the total market in 2024.
Trade Credit Insurance Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global trade credit insurance market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for trade credit insurance? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The trade credit insurance market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider trade credit insurance market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics: - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by component, by coverages, by application and by industry vertical.
- Key Trends: - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework: - Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth: - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis: - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation: - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by component, by coverages, by application and by industry vertical in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth: - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape: - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies: - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking: - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard: - Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions: - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments: - Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies- Contains information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations- This section includes recommendations for trade credit insurance providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix: - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Component: Products; Services
- 2) By Coverages: Whole Turnover Coverage; Single Buyer Coverage
- 3) By Application: Domestic; Exports
- 4) By Industry Vertical: Food And Beverages; IT And Telecom; Metals And Mining; Healthcare; Energy And Utilities; Automotive; Other Industry Verticals
- Companies Mentioned: Allianz Group (Allianz Trade); Atradius N.V.; Coface SA; American International Group (AIG) Inc.; Zurich Insurance Group AG.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; trade credit insurance indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.