The premium of export credit insurance of property insurance companies in China experienced variable trends over the past decade, reaching 193.35 hundred million yuan in 2023. From 2013 to 2019, premiums largely increased with occasional declines, peaking in 2018 at 242.48 hundred million yuan. A significant drop followed in 2019, and modest fluctuations marked the period until 2022. The year-on-year variation fell by 2.37% in 2023, and the 5-year compounded annual growth rate (CAGR) plunged to -4.43%.
Looking ahead, the forecast for 2024-2028 predicts a continuing decline, with a 5-year CAGR of -1.37% and an overall reduction in premiums by 6.64%. Observers should watch for:
- Government policy changes on export credits and insurance.
- Global economic conditions affecting export volumes.
- Technological advancements in the insurance sector.
