Surety Market SWOT Analysis and Segments from 2019-2027 | AmTrust Financial Services, Inc.; Crum & Forster; CNA Financial Corporation; American Financial Group, Inc.; The Travelers Indemnity Company; Liberty Mutual Insurance Company

The Surety Market is estimated to reach US$ 28.77 Bn by 2027 from US$ US$ 15.33 Bn in 2018

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 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.

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Surety market is segmented on the basis of bond type. The contract surety bond by bond type is expected to dominate the surety market during the forecast period. 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 such as bank guarantees and pay on demand services.

Surety market is segmented on the basis of bond type. The contract surety bond by bond type is expected to dominate the surety market during the forecast period. 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 such as bank guarantees and pay on demand services.

Leading Key Market Players Mentioned in the Report:- 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.

Key findings of the study:

South Korea holds the largest surety market share in APAC region. This growth is attributed to legal bonding requirements in the country for public and infrastructure construction projects. Also, commercial surety segment in South Korea is benefited from obligatory bonding requirements.

Majority of the countries have not witnessed significant increase in the number of global surety players entering in their market in the recent past. However, Europe, on the other hand, has noticed a slight expansion of global players’ entering markets to fulfil the demand.

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.

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Reason to Buy

• 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 Market, 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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This release was published on openPR.