The latest analysis from The International Credit Insurance and Surety Association (ICISA) reveals that nearly €8.5 trillion in global shipments were insured through trade credit insurance (TCI), covering about 15% of world trade in 2023—up from 13% the previous year. TCI penetration was highest in advanced markets like Europe and Australia, with steady growth also seen in North America.

This growth highlights the increasing importance of TCI as businesses seek to mitigate risks in an uncertain geopolitical and economic environment. It serves as a vital buffer against trade risks, protecting companies from payment defaults by buyers and suppliers. The industry’s expansion reflects its crucial role in enhancing the resilience of global trade.

As global uncertainty grows, demand for trade credit insurance is expected to rise. Geopolitical disruptions, supply chain pressures, and fears of trade wars may create challenges while driving companies to seek greater protection from risks.