Insured trade volumes and coverage share
The value of world trade protected by credit insurance rose to €9.58 trillion in 2025, up from €9.25 trillion the previous year, according to figures from the International Credit Insurance and Surety Association. Despite this nominal increase, credit insurance coverage as a share of total world trade slipped from an estimated 15% to 14% between 2024 and 2025. ICISA attributes this gap to world trade growing faster than global GDP and the euro appreciating against the US dollar by 17% between January 2025 and January 2026, which compressed the percentage against a dollar-denominated trade base. Adjusted for constant dollar terms, ICISA noted that the share of world trade covered would have increased by four basis points year on year.
Insolvency trends and market demand
The growth in insured trade volumes reflects increasing demand for protection against non-payment amid rising insolvencies. Global business insolvencies rose 6% in 2025 and are forecast to climb a further 5% in 2026, according to Allianz Trade data cited by ICISA. ICISA members, representing approximately 80% of global premium volumes, accounted for over €3.5 trillion in insured exposure related to trade receivables in 2025. The private insurance market provided roughly 70% of cover during the year, helping businesses use insured receivables to secure better availability and pricing of working capital from banks.