ICISA sees insured exposure grow 9.3% in surety segment for 2024

Premiums written increased by 7.4%.

The International Credit Insurance & Surety Association (ICISA) has reported solid performance across its core business lines in 2024, with growth in insured exposure, improved claims ratios, and an expanding global membership.

In the surety segment, insured exposure rose by 9.3% to $1.71t (€1.5t), up from $1.596t (€1.4t) in 2023, driven by ongoing infrastructure and project development activity. 

Premiums written increased by 7.4% to $9.12b (€8b), whilst claims paid declined by 12.6% to $1.938b (€1.7b). 

ICISA attributed the improvement in claims to enhanced risk quality and portfolio resilience.

Trade credit insurance, including dedicated credit and political risk insurance (CPRI), also saw growth. 

Insured exposure reached $3.99t (€3.5t), a 7.5% increase from $3.762t (€3.3t) in 2023.

Premiums written dipped slightly by 0.6% to $10.26b (€9b), suggesting a willingness among members to support the global economy despite heightened exposure. 

Claims paid fell by 0.8% to $3.8646b (€3.39b), consistent with a stabilising claims environment.

($1.00 = €0.88)