Surety Market to Witness an Outstanding Growth by 2027 - Lead by IFIC Surety Group, Crum & Forster, CNA Financia, American Financial Group, AmTrust Financial Services, The Travelers Indemnity Company, Liberty Mutual Insurance Company and Hartford Financia

Worldwide Surety Market Analysis to 2027 is a specialized and in-depth study of the Surety Industry with a focus on the global market trend. The report aims to provide an overview of global Surety Market with detailed market segmentation by product/application and geography. The global Surety Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the Surety players and offers key trends and opportunities in the market.

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.

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.

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Top Dominating Key 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

The global surety market for the bond type is fragmented into Contract Surety Bond, Commercial Surety Bond, Fidelity Surety Bond, and Court Surety Bond. Commercial Bonds are general surety bonds that are required by various government agencies state local or federal. Commercial bonds are primarily used by companies or working professionals as per state licensing and permit regulations. Commercial bonds are easy to qualify as they incur low-risk. Commercial bonds protect the general public from that interact with the principal being licensed.

The claim is made by someone who faced losses due to the violation of rules and regulations by the bonded principal. The agency checks various parameters before fixing the bond amount such as the number of employees, number of physical locations, and the type of business. Usually, the commercial bonds are annual bonds that are to be renewed every year in some cases bonds are also required for multi-year increments like service tax bond.

Further, surety market is expected to experience significant growth in the coming years due to the increasing demand of commercial bonds. The commercial bonds are gaining popularity in the markets of North America and Europe. Commercial bonds are replacing LOC as they provide a better method for risk management. Some of the big insurance like Crum & Forster, CAN Insurance Group, American Financial Group, Inc., and The Travelers Indemnity Company has a strong focus in providing commercial surety products.

The report focuses on an in-depth segmentation of the Surety market based on bond type. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA).

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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What our report offers:

• 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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