Trade Credit Insurance in the Netherlands

  • March 2013
  • -
  • Finaccord
  • -
  • 28 pages

Trade Credit Insurance in the Netherlands is a report about the market for trade credit cover in the Netherlands. In addition to documenting the development of the market value from 2008 to 2012, the report also divides it for the most recent year between four key segments: between small companies with an annual turnover of less than EUR 5 million and larger companies with a turnover above this threshold; between single-risk and annual policies; between export and domestic trade credit insurance; and between protection acquired for political risks and cover bought for business risks.

These unique market splits are based in part on a survey of leading brokers of trade credit insurance in the Netherlands. This same survey also identifies the underwriters of this type of cover used by brokers on a regular basis, gives an input into Finaccord's estimates for the market shares of underwriters and brokers of trade credit insurance in the Netherlands, provides a basis for commentary surrounding distribution channels used for this type of policy, and informs Finaccord's forecasts for the Dutch market value through to 2016.

Key features of this report include:

- quantification of the market size for trade credit insurance in the Netherlands: how much is the market worth, how has it developed since 2008 and how does it break down into key segments?

- presentation of the actual or estimated market shares of both brokers and underwriters of trade credit insurance in 2012 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 the Netherlands: to what extent are 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 over 30 leading banks and major trade associations

;- forecasts for the market for trade credit insurance in the Netherlands and how it will split between domestic and export trade credit cover: what is this sector likely to look like in 2016?

Table Of Contents

Table of Contents 
 
0.0 EXECUTIVE SUMMARY
1.0 INTRODUCTION
What is this report about?
Rationale
Several factors underpin the rationale for the production of this study
There are several distribution channel options in addition to brokers
Globally, trade credit insurers cover over EUR 1 trillion of commercial credit exposures
The report provides a standardised analysis of important metrics for trade credit insurance
Methodology
Research program
Market data analysis
Definitions
Trade credit insurance
Single-risk and annual policies
Export and domestic policies
Political and business risks
Premiums
Abbreviations
PartnerBASE
Finaccord
 
2.0 NETHERLANDS
Introduction
Market size, growth and segmentation
Relative to GDP, trade credit insurance in the Netherlands is not especially well-developed...
... with a higher proportion of the market due to larger companies than the European average
A relatively high proportion of Dutch brokers do not market single-risk policies at all
For several brokers, export trade credit insurance makes up more than a half of their total business...
... which is partly a result of the relative importance of exports to the Dutch economy
The provision of cover for political risks is also an important component for a handful of brokers
Atradius runs the public export credit guarantee on behalf of the Dutch government
The value of the factoring market may have exceeded EUR 50 billion in 2012
Underwriter market shares
Reflecting its background, Atradius is a very clear market leader in trade credit insurance...
...although most brokers also maintain on-going relationships with Coface and Euler Hermes
Distribution channels
The lion's share of trade credit insurance business is intermediated by brokers...
...with Aon and Finance and Insurance accounting for a large share of the market
Rabobank offers trade credit insurance underwritten by Interpolis
Trade associations in the Netherlands display a keen appetite for promoting trade credit insurance...
... with underwriting invariably carried out by one of the big three competitors
Future outlook
The value of export trade credit insurance within the total market is forecast to remain stable
3.0 APPENDIX
Brokers participating in the survey
 
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Key market data for trade credit insurance in the Netherlands
1.0 INTRODUCTION
2.0 NETHERLANDS
Gross written premiums for trade credit insurance in the Netherlands, 2008 to 2012
Premiums paid by small companies with an annual turnover of less than EUR 5 million as a proportion of the total market for trade credit insurance in the Netherlands, 2013
Premiums paid for single-risk policies as a proportion of the total market for trade credit insurance in the Netherlands, 2013
Premiums paid for export trade credit insurance as a proportion of the total market for trade credit insurance in the Netherlands, 2013
Values of exports inside and outside the EU and corresponding percentages of GDP in the Netherlands, 2007 to 2011
Premiums paid for political risk cover as a proportion of the total market for export trade credit insurance in the Netherlands, 2013
Total factoring market value in the Netherlands, 2007 to 2011
Estimated market shares of gross written premiums of trade credit insurance underwriters in the Netherlands, 2012
Frequency of usage of specific trade credit insurance underwriters by brokers in the Netherlands, 2013
Major banks offering trade credit insurance in the Netherlands: operating models and partnerships, 2013
Major trade associations offering trade credit insurance in the Netherlands: operating models and partnerships, 2013
Forecast gross written premiums for trade credit insurance in the Netherlands and the proportion due to export trade credit insurance, 2016
Forecast segmentation of gross written premiums in the Netherlands between domestic and export trade credit insurance, 2016 (table)
3.0 APPENDIX

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