Surety Market 2027 - Opportunities and Key Manufacturers IFIC Surety Group, Crum & Forster, CNA Financia, American Financial Group, AmTrust Financial Services, The Travelers Indemnity Company, Liberty Mutual Insurance Company, Hartford Financial Services

The “Surety Market to 2027- by Bond Type (Contract Surety Bond, Commercial Surety Bond, Fidelity Surety Bond, and Court Surety Bond) – Global Analysis and Forecast”. The scope of study involves understanding on the factors responsible for this growth of surety market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant surety players in the market and their key developments.

This report focuses on the Surety Market Size, Revenue, Share, status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Surety development in North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA).

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Surety Market to 2027 – Global Analysis and Forecast by Bond Type. In terms of revenue, the global Surety market accounted for US$ 15.33 Bn in 2018 and is expected to grow at a CAGR of 7.5% over the forecast period 2019–2027, to account for US$ 28.77 Bn in 2027.

Top Leading Market Players:

1. AmTrust Financial Services, Inc.
2. Crum & Forster
3. CNA Financial Corporation
4. American Financial Group, Inc.
5. The Travelers Indemnity Company
6. Liberty Mutual Insurance Company
7. Hartford Financial Services Group, Inc.
8. HCC Insurance Holdings
9. IFIC Surety Group
10. Chubb Limited

Surety Bonds are obtained by principal parties to protect third parties from a failure to meet contractual obligations. There are four main types of bonds that serve the different purpose namely: contract surety bond, commercial surety bond, fidelity surety bond, and court surety bond. The most common surety bonds are the commercial and contract surety bond and serve the purpose of protecting the public and private interests. The court and fidelity surety bonds protect against the litigation and theft. Surety bonds of all types cost a premium based on the performance of the business and credit score of the business owner which is between 1-15% of the bond value.

Contract surety bonds protects the owners in case a contractor backs out after winning a bid, after the contractor wins a bid and accepts to work on the project bid bond is replaced by a performance bond. The performance surety bond protects the owner, if the work done by the contractor is not according to the terms in the contract. The payment bond ensures that the winning contractor has the financial means to compensate suppliers, laborers, and subcontractors.

The contract bond captures a significant share of the surety bond market and is growing continuously due to rapid increase in construction activities in various regions like APAC, Europe, and MEA. The contract surety bonds are replacing other guarantee methods like bank guarantees and pay on demand services.

The global surety market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. Market is currently dominated by North America followed by Europe however, the market in South America is growing at a highest CAGR. Some of the major companies operating in the market include 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.

Browse market data tables and in-depth TOC of the Global Surety Market (2018–2027)

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Market Segmentations:-

Global Surety Market – By Bond Type

• Contract Surety Bond
• Commercial Surety Bond
• Fidelity Surety Bond
• Court Surety Bond

Key Benefits:-

• To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Surety Market
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).

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