ICISA reports strong global growth and expanding membership, reinforcing the vital role of Trade Credit Insurance and Surety in today’s economy
Against a backdrop of continued economic and geopolitical volatility, the International Credit Insurance & Surety Association (ICISA) highlights a year of strong performance across its core insurance lines, growing global membership, and a clear affirmation of the relevance and resilience of trade credit insurance and surety.
Solid market performance across industries represented
ICISA members reported robust growth in 2024, reflecting rising demand for secure risk solutions and proactive portfolio management:
Surety highlights
• Insured exposure rose by 9.3% to EUR 1.5 trillion [2023: EUR 1.4 trillion], demonstrating sustained investment in infrastructure and project development.
• Premiums written increased by 7.4% to EUR 8 billion [2023: EUR 7.5 billion], reflecting confidence from clients and continued market expansion.
• Claims paid declined by 12.6%, totalling EUR 1.7 billion [2023: EUR 1.9 billion], signalling improved risk quality and portfolio resilience.
Trade Credit Insurance (TCI) highlights, including dedicated CPRI business
• Insured exposure grew by 7.5%, reaching EUR 3.5 trillion [2023: EUR 3.3 trillion], supporting global trade at record levels.
• Premiums written slightly decreased by 0.6% to EUR 9 billion [2023: EUR 9.1 billion] despite an increase in exposure, reflecting a willingness on the part of members to support the economy.
• Claims paid decreased moderately by 0.8% to EUR 3.39 billion [2023: EUR 3.41 billion], in line with a stabilising claims environment.
“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,” said Richard Wulff, Executive Director of ICISA. “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.”
Milestones from ICISA’s 83rd Annual General Meeting
ICISA’s 83rd Annual General Meeting (AGM), held in Prague, Czech Republic, gathered global leaders in trade credit and surety to address today’s challenges and chart a path forward. The association welcomed new leadership and celebrated continued global growth:
• Jan Muller (Managing Director of the Credit, Surety & Political Risk division at Hannover Re) was appointed President for 2025/2026, following his 2-year term as Vice President.
• Dekker Buckley (Senior Vice-President, Overseas General leading Surety Operations on four continents at Chubb) was elected as the new Vice President, bringing fresh insights to ICISA’s leadership team.
In 2024, eight new members joined the association: Sofimex, KODIT, Beazley, SMABTP, EDC, TransRe, Markel, and Ageas Re. These additions enhance ICISA’s global footprint and broaden its representation across diverse markets and sectors.
Jan Muller, ICISA President:
“As president of ICISA, I would like to warmly congratulate and thank sincerely Benoît des Cressonnières for his outstanding leadership and dedication during his two years as President, and previously as Vice-President. His contributions have been instrumental in significantly enhancing the services ICISA provides to its members, and he has laid a strong foundation for the Association’s continued growth and success. The steady increase in the number of insurers and reinsurers joining ICISA is a clear testament to the impact of his commitment over the past four years. Benoît has always placed the interests of our members at the heart of everything ICISA does — a principle we will proudly carry forward.”
Benoît des Cressonnières, outgoing President:
“I would like to extend my best wishes to Jan Müller, who is succeeding me as President of ICISA. I’m confident that he will continue to inspire the Association, drive its progress, and successfully lead the projects currently being implemented for the benefit of all our members. Looking back on my two mandates, I’m proud of the remarkable resilience shown by our industry. Despite a prolonged period of economic and geopolitical challenges, our members have remained deeply committed to securing global trade and supporting the completion of millions of projects—contributing meaningfully to global development.”
Outlook: Growth, resilience and strategic focus
In 2024, ICISA members not only demonstrated strong fundamentals across their businesses, but also showcased their ability to adapt and lead amid complexity. The combination of increased insured exposure, relatively stable premiums, and improved claims performance underlines the strength of the industry and its vital role in supporting global commerce.
As ICISA continues to expand its membership and strengthen its voice on the global stage, it remains focused on promoting sound practices, increasing innovation, and driving collective action to support businesses worldwide.
