World trade is essential and subject to a myriad of risks. From war to fridges being hacked, fake goods to money laundering, or people trafficking as part of cargo, the dangers are there for wholesalers, ports, shipping lines and many other companies in the distribution and production chains. So credit insurance is vital. Here’s the 2025 snapshot data for you;
The International Credit Insurance and Surety Association has reported its annual estimate of the role of credit insurance in protecting and facilitating world trade. The 2025 figures demonstrate a continued growth in the value of world trade protected by credit insurance (insured shipments) – rising to EUR 9.58 trillion from EUR 9.25 trillion in 2024.
This increase shows the continued growing demand from companies looking for protection in uncertain economic and geopolitical conditions. Viewed as a percentage of world trade insured by the global credit insurance sector, the value saw a small decline in ICISA’s baseline between 2024 and 2025, going from an estimated 15% to 14%.
This is largely driven by two factors. Firstly, growth in world trade outpaced GDP growth with the WTO estimating that world goods and services trade grew in 2025 by almost 5%, compared to world GDP growth of just under 3%. The proportion of world GDP made up of trade is an important metric within our estimate. Secondly, a weakening dollar during 2025, particularly compared to the Euro also impacted the underlying numbers in our estimate. Following this, if estimated in constant dollar terms compared to 2024, the ICISA percentage of world trade protected by credit insurance would have increased by 4bps.
Trade credit insurance performing in uncertain times
The increased volumes of insured trade comes against a backdrop of uncertain economic and geopolitical circumstances in 2025, building on trends seen across recent years. Companies are searching for ways to navigate these challenges and find paths to grow sustainably. We see a continued turn to credit insurance to facilitate flexible and resilient business at home and abroad, as well as support businesses to access finance.
Trade credit insurance works by protecting against the non-payment of trade receivables, usually due to the insolvency of a buyer. Credit insurance also boosts access to finance for companies around the world. With the risk of default of receivables mitigated by the insurer, banks and financing companies view these as more highly secured assets. This can impact both price and volume of financing available to companies, boosting finance when businesses need it most. However, its value extends beyond simple indemnification of losses. Insurers support businesses to expand by assessing new buyers. This is essential for companies in any market but is particularly powerful when growing internationally where businesses may have limited knowledge and experience. Together, credit insurance can enhance the competitiveness of companies within national and international markets.
ICISA members operate throughout the world and support companies in all sectors and segments and for domestic and export trade. ICISA members, which include the largest players in the sector as well as specialists across the global industry, represent around 80% of global premium volumes. Importantly, ICISA also estimates that in 2025, around 70% of cover was provided by the private insurance market.
In the most recent ICISA Business Sentiment Survey for Q3 2026, ICISA members reported a continued rise in demand for trade credit insurance and surety from businesses around the world. This is balanced with a cautious outlook for claims and insolvencies within the real economy. Among the greatest concerns for the credit insurance market today are the continued direct and indirect effects of geopolitical conflict on economies around the world.
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