North America Trade Credit Insurance Market Leading Competitors, Regional Trends and Growth 2031

The North America Trade Credit Insurance market was valued at US$ 3,680.52 million in 2023 and is expected to reach US$ 7,264.03 million by 2031; it is estimated to register a CAGR of 8.9% from 2023 to 2031.

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Inflation and high interest rates lead to financial vulnerabilities even when the business volume is not increasing. Rising business costs result in a higher risk of bad debts and counterparty default, which boosts the demand for trade credit insurance among businesses to support smooth operations. It protects insurers from default on payments due to increased costs, rising expenses, and high interest rates. Trade credit insurance supports businesses to increase their volume, support resilience in the face of continued volatility, and expand into new sectors and markets.

Analysis of the Top Market Players:

1. Allianz Trade
2. American International Group Inc
3. Aon Plc
4. Atradius NV
5. Credendo
6. Chubb Ltd
7. COFACE SA
8. Great American Insurance Company
9. QBE Insurance Group Ltd
10. Zurich Insurance Group AG

In this report, the market has been segmented on the basis of:

Enterprise Size (Large Enterprises and SMEs)

Application (International and Domestic)

End User (Energy, Automotive, Aerospace, Chemicals, Metals, Agriculture, Food and Beverages, Financial Services, Technology and Telecommunication, Transportation, and Others)

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Trade credit insurance provides businesses with an up-to-date insight into payment performance; for example, if the payment was made by their potential business partner on time or not. Furthermore, trade credit insurance gives insurers information that supports brokers to improve insurers' existing credit management methods and protect margins from being influenced by inflation and high interest rates. Additionally, trade credit insurance gives trade receivables that help businesses receive better terms from funders or investors, allowing businesses to deal effectively with high interest rates and rising inflation situations. This is also helpful for businesses that are less capable of dealing with inflation. Thus, the growing inflation and high interest rates fuel the North America trade credit insurance market growth.

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