Import Export Insurance Market Players Gaining Attractive Investments: Atradius, Euler Hermes, Coface

Global Import Export Insurance market to witness growth at a CAGR of 8.4% during the forecast period of 2024-2030

PUNE, INDIA, September 4, 2024 /EINPresswire.com/ -- According to HTF MI, "Global Import Export Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Import Export Insurance Market is anticipated to grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2030, reaching USD 11.9 Bn. in 2024 and USD 19.84 Bn. by 2030.

The protection offered to exporters and importers to lessen the risk of damage or loss of products during commerce is referred to as import export insurance. It covers damage to the cargo both on land and at sea. Import-export insurance demand is fueled by reasons including rising globalisation and the need for insurance protection to get a credit line from a financial institution. The market is, however, facing difficulties due to the unstable nature of the economy and the high price of insurance. Due to the enormous possibility afforded by providing customised insurance solutions and integrating technology, the market is anticipated to maintain its development trajectory overall.

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Key and developing players who have been highlighted as part of the coverage include Atradius (Netherlands), Euler Hermes (France), Coface (France), Zurich Insurance Group (Switzerland), Chubb Limited (Switzerland), Allianz SE (Germany), Liberty Mutual Insurance (United States), Tokio Marine Holdings (Japan), AXA XL (France), QBE Insurance Group (Australia), Sompo Holdings (Japan), AIG (American International Group) (United States).


Import Export Insurance

Market Drivers
• The main drivers of the market expansion for import-export insurance are the effects of rising globalisation and the need for insurance protection in order to get credit facilities from financial institutions. The need for import and export insurance has risen as a result of growing worldwide commerce. Businesses are growing their consumer bases overseas, sourcing goods from other countries, and investigating new markets. As trade volumes increase, it becomes increasingly important to have insurance protection against potential dangers. For the purpose of reducing the risks related to trade financing, banks and other financial institutions frequently demand that importers and exporters carry insurance coverage. Before granting credit facilities like letters of credit or export finance, lenders may demand confirmation of insurance.


Market Opportunities
• Depending on their sector, trade routes, and particular requirements, businesses involved in import and export activities have different risk profiles. Insurance companies have the chance to create and supply specialised insurance solutions that meet the distinct risks faced by various industries and enterprises. Clients looking for complete protection that matches their particular commercial activity may be drawn to customised coverage. Technology adoption in the import-export insurance sector has the potential to provide new possibilities. Insurance businesses may be able to improve client experiences and speed underwriting procedures by utilising advanced analytics, data management, and automation. Both insurers and insured parties can gain from the increased openness and confidence that technology solutions like blockchain can bring to the insurance business.

Market Restraints
• The market development of import-export insurance is being constrained by shifting economic conditions and the high cost of insurance. Economic ups and downs may significantly affect international commerce, which in turn can have an impact on the need for import-export insurance. Businesses may cut back on trading during times of economic uncertainty, which lowers the need for insurance protection. Particularly for small and medium-sized businesses (SMEs) with limited financial means, import export insurance can be expensive. Some firms may find it difficult to obtain full coverage due to the prices insurance carriers charge being seen as exorbitant. Cost factors, especially for price-sensitive businesses, may prevent the adoption of import-export insurance.


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Key Market Segmentation:
The report has categorized the Import Export Insurance market based on type, distribution channel, and region.


Market Breakdown by Applications:
• Export Credit Insurance, Marine Insurance, Political Risk Insurance, International Product Liability, Others
Market Breakdown by Types:
• Manufacturing, Agriculture, Energy, Retail, Others

Report Scope
The Market size value in 2024 (USD 11.9 Bn.) Revenue Forecast by 2033 (USD 19.84 Bn.)
Growth Rate CAGR Of (8.4000000000000004%) Historical Years (2019-2023)
Base Year (2023)
Estimated Year (2024)
Short-Term Projection Year (2030)

Regions Covered (North America, Europe, the Middle East and Africa, Latin America, and the rest of the world)

Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.

Competitive Landscape:
Along with studying the profiles of the key players, the industry's competitive environment has also been examined. Players profiled are Atradius (Netherlands), Euler Hermes (France), Coface (France), Zurich Insurance Group (Switzerland), Chubb Limited (Switzerland), Allianz SE (Germany), Liberty Mutual Insurance (United States), Tokio Marine Holdings (Japan), AXA XL (France), QBE Insurance Group (Australia), Sompo Holdings (Japan), AIG (American International Group) (United States)


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Key highlights of the report:
• Import Export Insurance Market Performance (2019-2023)
• Import Export Insurance Market Outlook (2024-2030)
• Import Export Insurance Market Trends
• Import Export Insurance Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

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Criag Francis
HTF Market Intelligence Consulting Pvt Ltd
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