LAMEA Trade Credit Insurance Market Size, Share & Industry Trends Analysis Report By Coverage (Whole Turnover and Single Buyer), By Application (International and Domestic), By Organization Size, By Vertical, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Trade Credit Insurance Market would witness market growth of 14.5% CAGR during the forecast period (2022-2028).
Export credit insurance (ECI) often covers business risks that could lead to non-payment, such as buyer insolvency, bankruptcy, or prolonged defaults/slow payment, as well as some political risks, like war, riots, terrorism, and revolution. ECI also covers expropriation, changes to import or export laws, and currency inconvertibility.
Short-term ECI, which offers 90 to 95 percent coverage against political and commercial risks which contribute to buyer payment defaults, usually includes (a) consumer goods, materials, and services up to 180 days, and (b) small capital goods, consumer durables, and bulk commodities up to 360 days.
Short-term ECI is provided either on a single-buyer model-based or on a portfolio multi-buyer model-based for short-term (up to one year) and medium-term (one to five years) repayment periods. Large capital equipment is often covered by medium-term ECI, which offers coverage of 85% of the net contract value for up to five years. ECI should be a proactive purchase on the part of exporters, who should get coverage before such a customer becomes a problem. The cost of ECI is frequently factored into the selling price by exporters.
Access to trade credit is much more difficult for SMEs in underdeveloped nations. One-third of the market for trade finance in Africa is thought to be unsatisfied, with unmet demand in emerging Asia estimated to be worth US$ 700 billion. Many thousands of people and small enterprises worldwide would be able to trade more freely if these provisional gaps were closed.
The Brazil market dominated the LAMEA Trade Credit Insurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $292.6 million by 2028. The Argentina market is experiencing a CAGR of 15.1% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 14.1% during (2022 - 2028).
Based on Coverage, the market is segmented into Whole Turnover and Single Buyer. Based on Application, the market is segmented into International and Domestic. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Food & Beverage, Healthcare, Automotive, Energy, IT & Telecom and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allianz Trade(Allianz Group), Atradius N.V., Coface SA, American International Group, Inc., Zurich Insurance Group Ltd., Chubb Limited, QBE Insurance Group Limited, Great American Insurance Company, and AON Plc.
Scope of the Study
Market Segments Covered in the Report:
- Whole Turnover
- Single Buyer
By Organization Size
- Large Enterprises
- Food & Beverage
- IT & Telecom
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Allianz Trade(Allianz Group)
- Atradius N.V.
- Coface SA
- American International Group, Inc.
- Zurich Insurance Group Ltd.
- Chubb Limited
- QBE Insurance Group Limited
- Great American Insurance Company
- AON Plc
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