Surety Market Is Estimated To Generate Revenue Of US$ 25.18 Billion By 2027: Crum & Forster, CNA Financial Corporation, American Financial Group, Inc.

This research report will give you deep insights about the Surety Market and it will also help you in strategic decision making. The final research document is an exhaustive document comprising of 150 pages. All our reports are usually purchased across industries by Executives, Managers, Senior Managers, Strategy people, Directors, Vice Presidents, CXOs, etc. and help them in understanding about the market trends and analysis, competition, industry landscape, market size, market revenue, forecast, COVID-19 impact analysis, SWOT analysis, etc.

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The gaining popularity of PPP (public private partnership) in both developed as well as emerging economies worldwide is one of a major driver for surety market. Infrastructure investment and development are the main concern for governments across the world. With increasing urbanization, the emerging economies are witnessing a need to develop their critical infrastructure, while developed economies are in need to expand or reconstruct their existing infrastructures. The enduring evolution in PPP model is noticed with increased demand for infrastructure development as well as growing fiscal constraints, to support governments’ to fulfill these escalating infrastructure challenges. For instance, EU member countries have aided wide-ranging pan-national initiatives to enhance the adeptness of PPP financing, which include measures such as the Europe 2020 Project Bond Initiative. This initiative is intended to allow eligible infrastructure project developers; generally, PPP, to attract private finance from institutional investors including insurance companies as well as pension funds.

Moreover, the US government continually supports to finance PPP using long-term debt instruments, and taking initiatives such as Infrastructure Finance and Innovation Act, TIFIA, and tax concessions for municipal and government bonds. Moreover, the Canadian government supports PPP at all its levels and encourages PPP development at the municipal level as well. These factors are expected to catalyze the surety market during the coming years.

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Leading players are Crum & Forster,CNA Financial Corporation,American Financial Group, Inc.,The Travelers Indemnity Company,Liberty Mutual Insurance Company,The Hartford,HCC Insurance Holdings Inc.,Chubb,AmTrust Financial Services,IFIC Security Group.

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 different purposes 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 that 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% and 15% of the bond value.

The recent outbreak of the COVID-19 has significantly affected the world and is continuing to shatter several countries. The construction industry across the world was witnessing significant growth prior to the emergence of COVID-19 in late 2019. The outbreak of COVID-19 has led the construction industry players to temporarily call off their respective projects. The unprecedented impact of COVID-19 and uncertainty in economic conditions of developedand developing countries, the construction industry is expected to witness a slower growth till 2021. Attributing to the fact that surety market is heavily driven by construction industry, the slowdown in growth of construction industry is reflecting downfall in surety market globally.

Several associations in the surety market and construction industry are extensively seeking a positive approach to build a growth path for the construction industry and thereby catalyzing the surety market in a short span of time. The imposition of lockdown measures by majority of the countries have been negatively affecting construction industry irrespective of residential, commercial, or industrial. This factor is adversely affecting the growth of surety market.

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Reasons for buy this Report
• Highlights key business priorities to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Surety Market 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 to components, type, and end-users.

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