ICISA reports solid growth as trade credit and surety insurers adapt to global risk landscape - Trade Treasury Payments

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ICISA reports solid growth as trade credit and surety insurers adapt to global risk landscape

The International Credit Insurance & Surety Association (ICISA) has released its 2024 performance results, reporting continued momentum across trade credit insurance and surety lines. 

ICISA members recorded significant growth in insured exposure, with surety reaching EUR 1.5 trillion (an increase of 9.3% over the previous year). This expansion was accompanied by a 7.4% rise in premiums written, which totalled EUR 8 billion. At the same time, claims paid declined by 12.6% to EUR 1.7 billion, indicating stronger underlying risk quality and disciplined portfolio management.

In the trade credit segment, including credit and political risk insurance (CPRI), insured exposure rose to EUR 3.5 trillion (a 7.5% year-on-year increase). Premiums, however, declined slightly to EUR 9 billion (a 0.6% drop) despite the growth in exposure. This suggests an intentional focus by insurers on maintaining liquidity and supporting client needs. Claims performance remained relatively stable, with total claims paid decreasing marginally to EUR 3.39 billion.

ICISA Executive Director Richard Wulff said, “These results reflect more than just market performance—they represent the willingness of our members to support the economy, even when there are clouds on the horizon. The strategic agility of our members enable the indispensable role our industry plays in enabling trade, investment, and development globally. When we bring together the lion’s share of the trade credit insurance and surety industry in one room, we create the opportunity to build a stronger, more resilient foundation for global trade and financial stability.”

The release of these results coincided with ICISA’s 83rd Annual General Meeting, held in Prague. During the meeting, Jan Muller, Managing Director at Hannover Re, was appointed President for the 2025–2026 term, succeeding outgoing President Benoît des Cressonnières. 

Muller’s appointment follows two years of service as Vice President, during which he contributed to strengthening the association’s governance and strategic focus. Joining Muller on the leadership team is Dekker Buckley, Senior Vice President at Chubb, who takes on the role of Vice President.

ICISA also confirmed the addition of eight new members in 2024. These include Sofimex, KODIT, Beazley, SMABTP, EDC, TransRe, Markel, and Ageas Re. The growing diversity of the membership reflects a broader recognition of the value that coordinated, cross-border insurance practices bring to trade and infrastructure markets.

In remarks closing his term, des Cressonnières highlighted the industry’s ability to remain operationally sound and strategically committed during what has been a prolonged period of geopolitical and macroeconomic turbulence. 

As the industry looks ahead, ICISA notes that the combination of increased exposure, relatively stable premium income, and improved claims outcomes points to a well-calibrated market.