The results showed that:
• The global trade credit market saw a reduction in claims volume and value in 2025, with 185 claims reported, totalling over US$400 million. The value of claims fell, in fact, by over US$100 million, or almost 25%.
• Claims continued to be paid reliably in a very high percentage of cases. Less than 1% of claims – valued at just US$3.9 million – were not paid by the contractual deadline, and all valid claims were ultimately settled.
• Africa accounted for the majority of claims, with 71% coming from the continent, compared to just 10% from the Americas, 14% from Europe and 5% from Asia.
• The public sector saw many more claims than the private sector, with 72% of claims coming from the public sector. However, with lower average claim values in the public sector, the total amounts paid were more evenly distributed across the two sectors: 54% to the public sector and 46% to the private sector.
• The five most ‘expensive’ sectors in terms of value of claims paid were:
- support activities for crop production
- mining of chemical and fertiliser minerals
- water construction projects
- construction of roads and motorways
- support activities for petroleum and natural gas extraction.
David Powell, Head of Technical Underwriting at the Lloyd’s Market Association, commented: “Trade credit insurance plays a crucial role in enabling global trade – giving exporters the confidence to invest in exporting goods and services and in backing large-scale infrastructure and construction projects. Worldwide, it provides a vital safety net to permit trade in goods and services. This is especially evident in regions like Africa, where infrastructure investment remains critical but comes with an increased level of risk. Even in these challenging environments, insurers continue to provide protection and to pay claims reliably when they occur.”
Joe Shaw, Director of Claims at the International Underwriting Association (IUA), said: “Trade credit insurance offers several advantages beyond simply protecting against non-payment. It facilitates business growth and improves access to financing. IUA member companies are prominently involved in providing such cover. The data from our latest survey clearly illustrates the reliability of their solutions, enabling businesses to extend credit with confidence, expand into new markets, and secure better financing terms.”
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