Surety Market Estimated to Flourish by 2027 - Leading Players IFIC Surety Group, Crum & Forster, CNA Financia, American Financial Group, AmTrust Financial Services, The Travelers Indemnity Company, Liberty Mutual Insurance Company, Hartford Financial Serv

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).

Surety market is experiencing good growth across all the geographical regions of the globe, with the increasing demand for infrastructural development as well as residential construction. Furthermore, the rising adoption of public-private partnership model is another factor fueling the growth of the market.

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.

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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

Merger and acquisition is expected to be the key growth strategy to be adopted by players for next two-three years. However, this strategy could impact competition, it is also expected to generate new market as well as product opportunities as recently combined companies will thrive to maintain position and profitability.

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.

Currently, the surety market penetration rates in the North America region is higher than any other markets across the globe. This is attributed to most of U.S. State governments’ laws that mandate surety bonds. Both the U.S. and Canada Surety markets are majorly ruled by insurers, while banks also play a significant role. However, SAM and APAC region are anticipated to grow at the highest CAGR.

The Surety Market report is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2019 – 2027, considering 2019 as the base year and 2019 – 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 16 countries across the mentioned regions. The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the market.

Browse market data tables and in-depth TOC of the Global Surety Market (2019–2027)

The report segments the Global Surety Market as follows:

Global Surety Market – By Bond Type

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

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• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Global Surety Market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Surety, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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