1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Trade Credit Insurance in Italy

Trade Credit Insurance in Italy

  • October 2015
  • -
  • Finaccord
  • -
  • 25 pages

Trade Credit Insurance in Italy is a report about the market for trade credit cover in Italy. In addition to documenting the development of the market value from 2010 to 2014, the report also divides it for 2015 according to six key segmentations:

- between small customers with an annual turnover of less than EUR 5 million and larger insured entities with a turnover above this threshold;

- between single-risk and annual policies;

- between export and domestic trade credit insurance;

- for export trade credit insurance alone, between protection acquired for political risks and cover bought for business risks;

- between business underwritten by domestic insurers and that dealt with by underwriters based outside of Italy and with no branch in it;

- and between business intermediated by brokers and that underwritten directly.

These unique market splits are based in part on a survey of leading brokers and underwriters of trade credit insurance in Italy. This same survey also quantifies the degree to which underwriters of this type of cover are utilised by brokers on a regular basis, gives an input into Finaccord's estimates for the market shares of underwriters which are expressed as a likely percentage range (e.g. 5.0% to 7.5%), highlights the most important brokers of trade credit insurance in Italy, provides a basis for commentary surrounding distribution channels used for this type of policy, and informs Finaccord's forecasts for the Italian market value through to 2018.

Key features of this report include:

- quantification of the market size for trade credit insurance in Italy: how much is the market worth, how has it developed since 2010 and how does it break down into key segments?

- presentation of the estimated market shares of underwriters of trade credit insurance in 2014 based on both the broker survey and other available data sources;

- audit of the frequency of usage of underwriters by major brokers of trade credit insurance in Italy: to what extent are new entrants or smaller competitors effectively challenging the main incumbent underwriters?

- availability of an accompanying PartnerBASE™ dataset that logs partnerships for trade credit insurance identified by Finaccord across a combined total of more than 70 leading banks and major trade associations;

- forecasts for the likely value of the market for trade credit insurance in Italy in 2018.

Table Of Contents

Trade Credit Insurance in Italy


00 EXECUTIVE SUMMARY 1
10 INTRODUCTION 3
What is this report about? 3
Rationale 3
Several factors underpin the rationale for the production of this study 3
There are several distribution channel options in addition to brokers 3
Globally, trade credit insurers cover over EUR 22 trillion of commercial credit exposures 3
The report provides a standardised analysis of important metrics for trade credit insurance 4
Methodology 4
Research program 4
Market data analysis 4
Definitions 5
Trade credit insurance 5
Single-risk and annual policies 5
Export and domestic policies 5
Political and business risks 6
Premiums 6
Abbreviations 6
PartnerBASE 6
Finaccord 7
20 MARKET ANALYSIS 9
Introduction 9
Economic situation 9
Market size, growth and segmentation 9
Italy's market for trade credit insurance has delivered little growth since 2011… 9
… with premiums related to new policies as a percentage of total premiums having fallen slightly 10
An increasing proportion of the market is likely to be due to larger customers… 11
… with cover bought to cover single risks having risen somewhat 12
Demand for export trade credit insurance in Italy has apparently been increasing rapidly… 13
driven by the fact that exports account for more than 25% of Italian GDP… 14
… and with cover bought for political risks likely to have become more important in this market 15
A significant proportion of business is dealt with by underwriters based outside of Italy… 16
and most is underwritten directly by insurers (including business arriving via their agents) 17
Factoring as a complementary / substitute product 18
Growth trends in the factoring market have mirrored those in trade credit insurance 18
Underwriter utilisation by brokers and market shares 19
All brokers surveyed report making use of two underwriters of trade credit insurance… 19
… and these are the ones that are dominant in the analysis of market shares 20
SACE BT has implemented a more cautious underwriting policy in recent years 20
Distribution channels 22
Around one third of the total market value is distributed by brokers… 22
among which Aon is likely to be the market leader 22
Several of Italy's largest banks act as distributors of trade credit insurance… 23
… and cover is also quite widely sold by trade associations… 24
… all of which work directly with underwriters (as opposed to using brokers) 24
Future outlook 25
The value of Italy's trade credit market will grow up to 2018, but at a fairly modest rate 25
LIST OF GRAPHICS / TABLES
00 EXECUTIVE SUMMARY 1
Key market data for trade credit insurance in Italy 2
10 INTRODUCTION 3
20 MARKET ANALYSIS 9
Gross written premiums for trade credit insurance in Italy, 2010 to 2014 10
Gross written premiums for trade credit insurance in Italy, segmented by annual turnover of insured company, 2013 and 2015 11
Gross written premiums for trade credit insurance in Italy, segmented between annual and single-risk policies, 2013 and 2015 12
Gross written premiums for trade credit insurance in Italy, segmented by domestic and export cover, 2013 and 2015 13
Value of Italian exports inside and outside the EU and corresponding percentages of GDP, 2010 to 2014 14
Gross written premiums for export trade credit insurance in Italy, segmented between business and political risk, 2013 and 2015 15
Gross written premiums for trade credit insurance in Italy, segmented between domestic and non-domestic underwriters, 2015 16
Gross written premiums for trade credit insurance in Italy, segmented between business intermediated by brokers and business underwritten directly, 2015 17
Total factoring market value in Italy, 2010 to 2014 18
Percentage of brokers surveyed making regular use of particular trade credit insurance underwriters in Italy, 2015 19
Estimated market shares of gross written premiums of trade credit insurance underwriters in Italy, 2015 20
Estimated market shares of gross written premiums of trade credit insurance underwriters in Italy, 2014 (table) 21
Major banks promoting trade credit insurance in Italy: operating models and partnerships, 2015 23
Major trade associations offering trade credit insurance in Italy: operating models and partnerships, 2015 24
Forecast gross written premiums for trade credit insurance in Italy, 2018 25

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
2016 U.S. Commissions rcvd for sale of credit life insurance sold through Motorcycle, boat, and other motor vehicle dealers-Product & Retail Report

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Motorcycle, boat, and other motor vehicle dealers-Product & Retail Report

  • $ 199
  • Industry report
  • March 2016
  • by Barnes Reports

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Motorcycle, boat, and other motor vehicle dealers-Product & Retail Report, published annually by Barnes Reports, contains timely ...

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Boat dealersProduct and Retail Report

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Boat dealersProduct and Retail Report

  • $ 199
  • Industry report
  • March 2016
  • by Barnes Reports

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Boat dealers Product and Retail Report, published annually by Barnes Reports, contains timely and accurate industry statistics, ...

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Motorcycle, ATV, and personal watercraft dealersProduct and Retail Report

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Motorcycle, ATV, and personal watercraft dealersProduct and Retail Report

  • $ 199
  • Industry report
  • March 2016
  • by Barnes Reports

2016 U.S. Commissions rcvd for sale of credit life insurance sold through Motorcycle, ATV, and personal watercraft dealers Product and Retail Report, published annually by Barnes Reports, contains timely ...

Creditor Insurance In Latin America

February 2016 $ 3 994

Creditor Insurance In Peru

January 2016 $ 1 191

Creditor Insurance In Colombia

January 2016 $ 1 191

ref:plp2015

Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.